Transformational Solutions for Airlines to Unlock Profits
Optimized for Cruise Ferry Business Processes
Rail Specific Revenue Management Functionalities
Sr. Vice President – Cargo Solutions
As we begin the second half of 2018, it is a good time to take stock of one’s progress on targets and goals that each of us had set for the year. We at RTS are racing against time to wrap up projects as we kick-start new ones. Apart from keeping our focus on completing customer implementations on time, we are also applying finishing touches to the maintenance releases across passenger and cargo portfolios. We have had a few key milestones accomplished in the first half of the year that includes going live with the first phase of ProfitOpt at BC Ferries and other such accomplishments. We are pretty proud of these and want to congratulate BC Ferries for being trusted partners.
We are actively participating in our marketing efforts as you can see in the scoop section where along with gearing up for our annual summit in Vienna, our presence will also be felt at other significant events around the world. After hosting our annual RTS Summit in Cape Town, London, Barcelona, Dallas and Amsterdam in the last few years, we thought we will try out Vienna in 2018 based on the voices that we heard during our summit last year.
Our teams across the globe are ramping up their efforts to give back to the community by volunteering their time and money to various causes as we strongly believe nothing is more satisfying than making a difference in the lives of those who are not as privileged as some of us are.
Wishing you all the best for the remainder of 2018 and we look forward to continue working closely with all of you for the rest of the year and beyond.
We offer advanced software solutions and consulting services that drive growth and profitability by effectively planning your revenue budgets and setting your schedule. Our solutions enable you to get the maximum value out of every departure by optimally managing your flight capacities in terms of seats and cargo space considering origin-destination demand and different service products.
We provide industry leading solutions and services that help you to squeeze additional revenue and profit from your key resource – ships. Our solutions consider key aspects of cruise ferry customer behavior and ship characteristics to deliver the best results from tourists, cabins, and freight decks.
Optimally matching capacity and demand is a big challenge in the rail industry due to adjustable capacities and varying journey lengths. Our experts have developed models and algorithms to determine the optimal prices to sell seats to maximize the profit potential for the rail industry.
Routes Americas 2018 in Quito, Ecuador
RTS attended the Routes Americas 2018 conference held in Quito, Ecuador from Feb 13th to 15th. Pradeep Bandla – Senior Vice President of Passenger Solutions represented RTS at the conference and got an opportunity to interact with network management departments of airlines and showcase the SchedOpt scheduling solution. There was considerable interest expressed by prospects with follow-up meetings after the conference. RTS was also chosen by the organizers to present the ‘Best airport in the Americas’ award to Myrtle Beach Airport in South Carolina. Heartiest congratulations to them.
RTS ‘Namaste’ at Air Cargo India
India is one of the fastest growing economies of the world. India jumped 19 places and ranked 35th in 2016 as against 54th in 2014 in the latest Logistics Performance Index by World Bank. The Indian air cargo sector is poised to undergo significant growth in the coming years. With that in mind, we made our presence felt at the Air Cargo India conference in Mumbai from February 20th to 22nd. Mukundh Parthasarathy, Senior Vice President of Cargo was a panel speaker at the event and met with several executives of carriers including Oman Air, Etihad Cargo, Saudia Cargo, Qatar Airways, Turkish Airlines, MAS Kargo as well as Indian carriers such as Spice Jet and Indigo. We hope to expand our global footprint as well as brand equity taking opportunity of such events.
RTS dazzled at its own backyard in 2018 at IATA World Cargo Symposium
The 2018 World Cargo Symposium was held in its own backyard in Dallas from March 13th to 15th and RTS was one of its principal sponsors and made its presence felt by sponsoring an exclusive breakfast event for C-level executives in the industry along with a massive booth manned by its employees. The conference is considered the premier event in the air cargo industry where over a thousand decision makers and experts from across the entire air cargo supply chain participate to exchange ideas and discuss solutions to the industry’s issues. Since the conference was in Dallas, RTS leadership team was present to mingle with the decision makers and put on a show that was the talk of the town. Foresight, along with CargoProfitOpt and CargoPriceOpt piqued the interest of the decision makers and a few of them are expected to be a part of the growing community of these solutions.
Aviation Festival Americas
RTS attended the Americas Aviation Festival held in Miami, USA from May 7th to 9th as an exhibitor. The team from RTS that participated included Raja Kasilingam – President, Sheila Ruiz – Marketing and Pradeep Bandla – SVP, Passenger Solutions. The conference included a number of airlines not just from America but from Asia and Europe as well. It presented RTS a good opportunity to present its solutions and also network with delegates. Pradeep Bandla also participated in a panel discussion on ‘Dynamic Pricing – Which analytics play a key role?’
Agile Carnival INSPIRE 2018
Paritosh Agarwal, Senior Business Analyst at RTS, successfully co-organized the biggest Agile Carnival INSPIRE 2018 which was held in Chandigarh, India on the 1st and 2nd of June 2018.
INSPIRE 2018 aimed to provide an excellent platform to the IT community of the Chandigarh Tri-city area to come together to:
Get equipped with agile methodology techniques that are used at various levels in an organization.
Network with fellow attendees to exchange and explore ideas.
Enable them to build world class products.
The conference invited speakers selected through rigorous proposal evaluation from all over India and London to share their knowledge and experience. The speakers were a fair mix of C Level Executives, Directors and Managers who held presentations and conducted workshops on the contemporary topics that garnered lot of interest from the participants.
The speakers talked about Agility in HR processes, Internet of Things, Data Sciences, and AI tools for Agile process management, Agile Automation Testing and Importance of Being Agile for C Level Executives.
There were several interesting workshops on building and validation of MVP products, Service Design Thinking, Design thinking for Startups and a simulation game that talked about what to do when Agile doesn’t work.
The conference was a huge success that saw a footfall of more than 100 participants from over 30 companies and set the stage for next year’s conference with even bigger expectations.
IATA SLOTS Conference
The 142nd IATA SLOTS conference was held in Vancouver, Canada from June 19th to 22nd. This is a global conference attended by airports and scheduling departments of over 100 airlines. RTS was an exhibitor at this event and was represented by Pradeep Bandla, Jason Codd (Senior Vice President – Client Services) and Sheila Ruiz. The SchedOpt solution was well received by the delegates and RTS had a great opportunity to interact with airlines, airports and vendors to get valuable insight into scheduling challenges being faced by the aviation industry.
World Aviation Festival
RTS is pleased to announce that it will be attending the World Aviation Festival being held in London, United Kingdom from September 5th to 7th as a sponsor. Jason Codd will be talking about our next generation revenue management and scheduling solutions at the conference. We will be showcasing these solutions in our booth as well, so we encourage you to stop by and get insight into the value our solutions can provide to your airline. More information about the event can be found at http://www.terrapinn.com/conference/aviation-festival/index.stm. If you are interested in attending, there are a limited number of passes that RTS can provide, so please reach out to Jason at Jason.Codd@RTSCorp.Com at your earliest convenience.
RTS Summit 2K18
What does outperform mean to your company and your industry?
In terms of RTS, it means innovation, collaboration with fun and knowledge and we want to showcase the same through our Annual Flagship Event. We have designed an experience keeping your needs in mind from remarkable keynotes by industry experts, networking time with meaningful conversations to an evening that epitomizes Vienna keeping you hooked once you fall prey to its charm.
RTS welcomes you all to its Annual Summit 2018 at Vienna, Austria. It revolves around the theme “Outperform” and commences at 6.30 PM on October 2nd with registration and a cocktail reception unfolding into succinct podium presentations by external speakers and breakouts and interactive sessions on pricing, revenue management, scheduling, revenue planning, profit optimization on October 3rd and 4th. Not only you will gain strategic to tactical insights in managing your customers and inventory by having group discussions with a panel of experts from the airline, cargo and cruise ferry worlds, and sharing of future vision and experiences by RTS leaders but also be taken aback by social events and dinners. You will find a great platform to network with your peers and the RTS team at the Welcome Reception as well as during the conference breaks, meals and social events.
Above all, “Dream on, but don’t imagine they’ll all come true. When will you realize…Vienna waits for you” (Billy Joel). A city with excellent imperial sights, coffee houses and the very special Viennese charm awaits your presence. Do visit to outperform yourself by hearing some of the great speakers, sharing your experiences, networking and savoring each morsel of Viennese food by indulging in its exotic culture.
You can visit here for registrations or any other piece of information you require. Please feel free to contact Palak.Gulati@RTSCorp.Com for any queries.
Looking forward to an exuberant summit with you all!
The first half of the year has been a busy one for client visits. These visits have covered a range of activities almost as wide as the geographic area covered.
The visits included:
Planning and training for the latest ProfitOpt 2018 release, allowing clients to take advantage of performance improvements, new features and functions.
Working with clients on developing new models as well as enhancing existing functionality. This has included workshops and meetings followed up with remote sessions.
Implementation activity related to both new implementations and upgrades.
Training new analysts.
We fully expect that the second half of the year will be equally busy, and look forward to working with you!
Our clients have also been extremely busy so far this year and below are some interesting areas in which they have been quite active.
RTS ProfitOpt Phase 1 Go-Live at BC Ferries
At the end of May, BC Ferries went live with the first of two phases of the RTS ProfitOpt application. The first phase consisted of the implementation, configuration and training on the RTS-hosted application, along with the collection of their advance booking data from their legacy reservation system. The second phase, which will provide integration with their new booking system, is currently slated for go-live in November. RTS will initially manage 3 major routes for BC Ferries, with additional routes slated for roll-out in the coming year. BC Ferries (BCF) is an independently managed, publicly owned company providing all major passengers and vehicle ferry services for coastal and island communities in the Canadian province of British Columbia. Based in Victoria (Canada), BC Ferries is one of the largest ferry operators in the world, providing year-round vehicle and passenger service to coastal and island communities with 25 routes, 47 terminals, and a fleet of 35 vessels. In 2017, BC Ferries carried more than 21.8 million passengers and 8.5 million vehicles.
RTS Waitlist Management Module returns results at Brittany Ferries Freight
RTS and Brittany Ferries developed the first Freight Profit Optimization system for Cruise/Ferry, which was also integrated with their RTS Passenger Profit Optimization system. A core objective of the original project and requirement scoping exercise was to create a robust system which had significant in-built flexibility within the individual modules. This included the Waitlist Management model which can evaluate a range of key factors and apply weightings to provide a targeted waitlist order to the reservation agents.
As part of our ongoing collaboration during 2017, RTS developed a Waitlist Performance Analysis report to understand the impacts and revenue benefits of this module in a better way. The report was developed with input from Brittany Ferries to take into account their waitlist policy and procedures and accepts that operational requirements will take precedence in certain scenarios.
From the start of 2017, a typical range of 11 to 16.5% revenue improvement has been experienced on waitlisted bookings for each quarter to date. Simon Wagstaff, Brittany Ferries Freight Director commented, “Ongoing improvements of the CargoProfitOpt product, as a result of close collaboration between Brittany Ferries and RTS, continue to bear fruit. The recent development of the Wait List Management element of the system has allowed Brittany Ferries to optimize revenue in this area, which makes a significant contribution to improving margins”.
Patrick Allen, RTS Senior Manager – Client Services, who oversaw the original CargoProfitOpt implementation and the design, development and analysis of the Waitlist Management report, said “Once again we were very pleased to team up with Brittany Ferries Freight to combine ideas in our ongoing spirit of co-operation and partnership. These benefits have outperformed and exceeded even RTS expectations”.
P&O Ferries Upgrades to ProfitOpt
RTS is pleased to announce that long standing client P&O Ferries, a cruise ferry operator based out of Dover, UK, commenced upgrading to RTS ProfitOpt (2018) last month. Implementation is currently under way with the aim of going live in the second half of the year. The solution will provide enhanced revenue management on a variety of routes, including both short and long-haul crossings to Europe and Ireland. P&O Ferries operates ferry services across the English Channel, North Sea and Irish Sea, with almost 4,000 employees. A fleet of more than 20 ships operates over 30,000 sailings a year, carrying in excess of 10 million passengers, 1.6 million cars and 2.2 million freight units. For more information, you could visit www.poferries.com.
We are always pleased to see our clients doing well and with Brittany Ferries and Color Line with new vessels being built, it is nice to see Fjord Line and TT Line also joining them.
With RTS commitment to environmental and social initiatives, it is always nice to hear our clients contributing to their community too. Below are some of the related initiatives undertaken by our clients:
One of our newest features, ‘Competitive Insight’ provides the ability to the analyst to review what current price is available for sale by their competitors and their current selling price. This provides the analyst with immediate access to much needed information to decide on what changes might be needed in order to influence customer traffic away from the competition. Working with Cayman Airways, RTS has created a process to transform the competitor data which they get daily from a third-party competitor application and load it into the RTS ProfitOpt application. This data is then made available for the analyst to view on the application’s case list and worksheet.
Cargo Maintenance Releases
RTS cargo products’ maintenance release will be available for client community during fourth quarter of 2018. The release includes various product specific enhancements as given below:
Ability to view historical departures from the Flight Manager and Flight Workbench user interface.
Enhancements to the Capacity and Demand Forecasting Module for automatic sponsorship recommendations.
Enhancement to Allotment Module to view the allotments on each flight and ability to update and release the allotments.
Automatic allotment re-accommodation based on business rules.
Performance improvements to the Router Module.
Ability to define bid price overrides based on reading day and density range.
Flight and market performance reports.
Quick currency filters in the header to view the cost and revenue data in different currencies.
Dashboard updates to view process and quarantine status.
Enhancements (Cruise Ferries)
Product upgrade with the New Look.
Ability to view historical departures from the Sailing Manager and Sailing Workbench user interface.
Ability to view historical profiles for the selected departure from Sailing Manager.
Sailing and Analyst Performance Reports.
Quick currency filters in the header to view the Cost and Revenue Data in different currencies.
Dashboard updates to view process and quarantine status.
Product upgrade with the New Look.
Ability to define dynamic business rules to use with the rating engine.
Ability to define flexible hierarchy logic from the user interface for rating decisions.
Modified matrix user interface for Contract Rate and Spot Price evaluation.
Router integration with the Spot Price Module.
New Age Revenue Management
New Age Revenue Management Systems
The travel industry is a complex beast. Competition is far from being straightforward. Travelers look towards personalized, value added services and need value for every dollar. In such scenarios, revenue management is stepping itself up to being a high art rather than being just a skill set. Understanding the multiple factors that influence customer’s travel behavior and being able to manipulate them to provide irresistible packaging is a challenging task. Let us take a look at some of the latest trends in the RM world that are going to prove crucial in boosting the top line of both vendors and carriers.
Data & AI
Future RM systems will fuel innovation by unlocking the power of data through platforms. RM systems are gifted with data from various sources including social media, reputation management, web traffic sources, weather and information related to competitors. Latest RMS technology incorporates different sources of big data into its analytics when the right types of data are statistically significant and will drive better revenue performance. At RTS, we constantly strive to improve our solution to deliver value to our clients by driving new initiatives that include incorporating powerful analytical capabilities in our solutions.
In the real world, sometimes following hunches can lead to leaving money on the table as things don’t always work out the way they are planned. Modern revenue management systems provide the gift of predictive analytics to allow analysts to truly understand the impact of their hunches before setting them in motion. What-if scenario analysis allows exploration of performance outcomes and revenue gains/losses by varying the decisions.
Total Revenue Optimization
To date, transportation companies typically have focused on how to price the core tickets. With a radical change in the industry, where ancillary revenues that come from items such as checked baggage, onboard food, premium seat selection, extra leg room (for airlines) and on-board spend including duty free shopping, dining, gambling, etc. (for cruises) form an important chunk of total revenues. RM systems cannot simply tweak their existing models expecting to optimize total revenues. Instead, RM systems must optimize total revenue by taking attribute-level customization a step further. Factoring in cargo revenues (especially in the case of cruise ferries) should also be part of the equation.
Nowadays, the focus has shifted towards how the results are displayed. Data visualization and presenting numbers in the form of charts help in faster decision making. A chief benefit of data visualization is that it exposes changes in a timely manner. But unlike static charts, interactive data visualizations encourage users to explore and even manipulate the data to uncover other factors. This creates a better attitude for use of analytics.
“The only constant in business is change” is an old business maxim. But for revenue management, it is particularly applicable. With the emergence of new technologies, an inclination towards being customer centric, a focus on Big Data and Artificial Intelligence, it is the right time for RM systems to step up to the next level.