today announced the travel industry’s first dynamic Pricing Rule Engine for use with Accovia’s web-based Selling System Platform. The Accovia Pricing Rule Engine automatically applies business logic to the sales process and provides a pure object oriented platform for travel industry rule-based systems, simplifying the complex pricing nature of dynamic packaging.
“Dynamic packaging is more than just a buzzword in the travel industry today,” said Claude Guay, president and CEO of Accovia. “The dynamic pricing function is key to realizing a comprehensive dynamic packaging solution. The flexibility afforded by our Pricing Rule Engine—to seamlessly apply pricing rules at the individual component level or at the package level—gives customers a competitive advantage by removing limitations on product pricing.”
Pricing schemes enforced by the Accovia Pricing Rule Engine range from relatively simple to complex. Examples include:
a) If length of stay is greater than 5 days at location A then customer gets discount of 5%.
b)If the package destination is Caribbean with hotel type premium, and the traveler age is greater than or equal to 18 years old for departure dates between January 1 to March 31 with a length of stay that is greater than 4 nights, then discount the hotel price by 50% for nights after the fourth night.
Complex schemes take additional factors into consideration including, but not limited to: departure and return dates, minimum and maximum stay requirements, package or individual product codes, passenger type and age, market, brand and location. The Accovia Selling System Platform displays and discounts (where applicable) component prices individually or cumulatively, proffering one reference price based on customer preferences, as opposed to compiling various brochure and contract prices.
Dynamic packaging is critical to today’s travel industry as airlines, hotels, tour operators and travel agencies realize the financial and commercial benefits of offering custom packaged travel services to consumers. Enabling technologies such as Accovia’s, allow travel service providers to optimize revenue and margin by using a selling and distribution system for multi-component travel services, with a control center for all selling system pricing behavior - automating the generation of mark-ups and discounts, and simplifying complex commission and rebate schemes.