Rate-Monitor’s sophisticated Comparison module reviews and compares Clients’ current rates against competitors’ rates. Based on custom rules that reflect Clients' revenue management strategy, Rate-Monitor’s Rate Rule Suggestion Report will present Clients with granular rate change suggestions based on their rules (e.g., "I want my LAX ICAR rate to be $3.00 less than my second lowest competitor). Rate-Monitor’s rate change suggestions are optimized to factor in utilization for each location and car type based on the Client’s pricing strategy as defined in the comparison rule.
Suggested rate changes can be fully automated and applied during rule execution. Alternatively, Clients can proceed to the Correction process where rate changes may be selectively submitted as semi-automated input, or rate change suggestions can be manually entered.
Step Two: C2 - Comparison (Rate Alerts & Rules)
Rate-Monitor’s Rate Comparison intelligence.
- Rate Rules - Define Competitor rate criteria (Rules) to trigger a rate suggestion. Rate-Monitor automatically analyzes searched rates using rate rules
- Rate Suggestions – Define pricing strategy to generate rule-based rate update suggestions
- Simplicity - Rules don't have to be complex; they can be as simple as "make sure my rate is $2.00 less than Competitor X"
- Sophistication –Rules can be as complex as needed to reflect a sophisticated rate strategy. Rules are linkable and can be used to create multi-tiered logic trees - i.e. if Competitor X is $2.00 less and Competitor Y is $1.00 more, then change my rate to X or if Competitor X is $2.00 less and Competitor Y is 10% more, then change my rate to Competitor X minus $2.00 – and that's just for starters!
- Integration – Import data from your reservations and rental system to incorporate current utilization levels and bookings. This additional information can be factored into competitive rate comparisons and rule evaluations