Revenue Technology Services (RTS), provider of profit optimization tools for the travel and transportation industry, announced that Saudia Cargo, one of the world’s leading cargo airlines, went live with RTS Velocity, AcceleRate and Foresight solutions as part of a phased approach.
Velocity is a comprehensive revenue management solution designed to forecast capacity, show-up rate, and demand while optimizing overbooking, allotments, and bid prices. AcceleRate complements Velocity by offering dynamic pricing decision support tailored for the cargo industry. This solution considers various factors such as competition, customer value, price elasticity, and costs to recommend dynamic prices, alongside managing rating and rate sheet information. These two solutions work seamlessly together to enhance efficiency for Saudia Cargo.
Additionally, Foresight serves as a revenue planning and sales budgeting solution, taking into account schedules, capacity, demand, routes, equipment characteristics, and shipment details to set annual revenue targets and sales objectives. It also facilitates the design of freighter/truck schedules based on split demand, ensuring comprehensive planning and optimization across the organization.
The extensive implementation effort comprised two distinct phases, each focused on the development of advanced Artificial Intelligence (AI) and Machine Learning (ML) techniques. These cutting-edge solutions were tailored to enhance air cargo revenue management processes, encompassing forecasting capacities, overbooking optimization, O&D based demand forecasting, and allotment optimization. Additionally, the solution addressed pricing challenges, including dynamic pricing, upsell and cross-sell offers, rating engine refinement, and network optimization.
Saudia Cargo collaborated closely with RTS to optimize long-term schedules, effectively representing cargo interests within the organization and aiding sales in setting and tracking targets. Prior to deployment, rigorous testing was conducted by Saudia Cargo and RTS to ensure alignment with all business requirements.
Mansour Alasmi, Vice President of Network & Revenue Management at Saudia Cargo, commented: “Our partnership with RTS Global epitomizes our unwavering commitment to pioneering innovation and cutting-edge solutions that redefine our industry. It’s a testament to our relentless pursuit of excellence and our dedication to staying ahead of the curve when it comes to delivering unparalleled service quality and operational efficiency through automation.”
Mansour Alasmi added: “With RTS’s cutting-edge solutions Velocity, AcceleRate and Foresight seamlessly integrated into our operations, we’re empowered to make data-driven pricing decisions. This collaboration exemplifies our commitment to leveraging the latest technologies to drive strategic initiatives, cementing our position as leaders in the industry. These innovations are a testament to our shared ethos of pushing boundaries and continuously striving for excellence, ensuring that Saudia Cargo remains at the forefront of progressing our industry and customer satisfaction.”
Johan Van Rensburg, Global head of Cargo Delivery, added: “Today marks a momentous stride forward for the RTS and Saudia Cargo partnership with the successful integration of RTS Velocity, AcceleRate, and Foresight solutions. We are confident Saudia Cargo will redefine cargo automation. This accomplishment strengthens our global partnership, setting new standards and inspiring us to reach even greater heights.”
Mukundh Parthasarathy, Head of Cargo solutions at RTS, said: “Our vision of an end-to-end decision support solution suite for cargo has been realized with Saudia Cargo with Velocity, Foresight and AcceleRate. The thought leadership shown at Saudia Cargo is something for the aviation industry to look up to and we are glad that RTS is the chosen partner in this journey.”
