Dallas/London/Barcelona: RateGain Technologies, a leading SaaS company for travel and hospitality, announced the launch of CarGain Canvas, an integrated market position analytics application which utilizes leading indicators to help car rentals verify and rectify issues in their pricing strategy to enable them to unlock new revenue in this highly uncertain environment.
Due to the pandemic, car rentals are unable to track and anticipate demand with precision. Furthermore, the lack of visibility leads to pricing challenges which directly impacts revenue optimization. CarGain Canvas easy to use UI provides in-depth insights through leading indicators to help revenue managers track every market movement as well as reason for changes while eliminating manual effort and errors.
RateGain’s CarGain Canvas, the first such platform for the car rental industry identifies profitable opportunities from millions of competitor rates, verifies demand indicators, and helps rectify pricing decisions with real-time alerts. With easy-to-use filter options, car rentals can now analyze historical trends and track instant market changes by monitoring booking pace, tracking utilization, and get a 360-degree view of the market.
Commenting on the launch, Harmeet Singh, CEO, RateGain said, “We worked closely with our customers to develop Canvas. In our interactions with all the leading car rentals, we realized the acute need for an application such as Canvas. Canvas is bridging the gap between our customer needs and the inability of existing platforms to give a clear and accurate picture. RateGain’s deep understanding and commitment to the Car Rental industry will ensure that we continue to pre-empt the needs of our customers and develop products that help them unlock more revenue in the new normal.”
Pricing managers have traditionally used analytics to get trends based on historical data which in the new normal is no longer a reliable source to make decisions. Using causal analytics as the base, CANVAS provides pricing teams actions they should take based on the change happening in the market real-time.
Sharing his experience, Tom Mallo, Owner for Budget Las Vegas commented, “RateGain’s CANVAS is a game changer and a mission critical application as it helps us stay in sync with real-time market trends and compare our positions in the market. With actionable insights based on leading indicators such as flight information on a day to day basis is helping us reduce manual effort, save cost of technology while making our forecasts more accurate.”
For more information on CarGain Canvas, click here.
RateGain is a leading provider of SaaS products, which help travel and hospitality companies with cognitive revenue management, smart e-distribution, and brand engagement to make more revenue every day. RateGain is proud to support 250,000+ hotel properties globally by providing 240 billion rate and availability updates & powering over 30 Million bookings. RateGain is trusted by 25 out of the top 30 OTAs, world’s fastest-growing airlines, 23 of the top 30 hotel chains, tour operators and wholesalers, all top car rental companies, largest cruise lines, and the largest travel management companies. In 2018, RateGain acquired DHISCO, which made it the only company in the world to offer end-to-end smart Distribution. In June 2019, RateGain acquired award-winning BCV to offer guest experience cloud to maximize guest lifetime value for hospitality chains. For more information, visit https://rategain.com
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