PROS ® (NYSE: PRO), a world leader in pricing and revenue management software, today announced a new cloud-based revenue management solution for low-cost airlines. The new solution – PROS first product for low-cost airlines – drives significantly greater alignment between revenue management and pricing, which enables these carriers to achieve revenue and load-factor goals. PROS provides these airlines with big data technologies that improve analysis and speed, and help analysts take control of the booking process to maximize revenue for the thousands of flights they follow.
PROS plans to publicly demonstrate the solution for the first time at the upcoming World Low Cost Airlines Congress in London, scheduled for Sept. 17-19 at the Sofitel London Heathrow.
PROS new cloud solution enables low-cost carriers to dramatically optimize revenue for each flight, with powerful analytics that transform near real-time flight data into new strategic insights. Analysts gain the agility they require to make competitive pricing and seat inventory decisions until just hours before boarding.
“As the industry’s revenue management leader, we’re extending our market reach with new products for low-cost carriers, a traditionally under-served segment,” said PROS Travel President Benson Yuen. “With our long history of helping airlines monetize big data, we’re now leveraging cloud technology and our continuous innovation to meet the unique needs of these carriers. Every airline is looking to outperform in the markets they serve. With PROS, low-cost airlines can align optimal pricing and revenue management in a single system, which provides the agility to respond more quickly to competition and enables them to generate additional revenue streams. We look forward to showcasing our new solution with customers and prospects at the London congress.”About the New Solution PROS offers a new, more powerful approach to revenue management for low-cost carriers with its innovative cloud-based solution. With PROS, these airlines are able to improve the revenue of each flight, and also reduce costs with the cloud infrastructure that enables them to outperform against their business goals:
- Make faster, more accurate pricing decisions: With access to near real-time data, carriers gain the agility and flexibility to make pricing decisions until just hours before departures.
- Keep revenue and business goals on track: With near real-time tracking of load factors and average fares, carriers can now proactively monitor and analyze their progress against business goals to ensure they’re hitting corporate targets. This new method provides a far more effective approach compared with current methods that rely on end-of-month calculations.
- Respond more effectively to competitors: Designed with PROS highly regarded revenue management science, the new solution transforms data into insights. Low-cost carriers can combine and price their airline products to enforce traditional advance purchase rules and respond more effectively to unexpected competitor moves.
- Gain higher performance and lower costs: The cloud deployment eliminates capital-intensive expenditures, lowers IT support requirements, and provides the privacy and security of an advanced on-premise computing environment. Systems are always cutting edge, with new innovations immediately available for customers to review, test and activate.
- Enable faster training times for new hires: The software is easy to use and requires little training, which enables new, less-experienced analysts to gain proficiency much faster.
- Boost productivity and efficiency: Analysts are no longer encumbered by complex spreadsheets and manual calculations. Instead, they can analyze and compare flight data, identify trends, craft strategies and keep a watchful eye on corporate goals much more easily. With its innovative features that shift the role of analysts from tactical to strategic, they’re able to work more efficiently and productively than ever.