RTS announces the launch of Foresight – a revenue planning solution

Revenue Technology Services (RTS), Plano, Texas, a provider of profit optimization tools for the transportation industry, announced today the successful launch of Foresight. 

Foresight is a state of the art decision support system that uses existing schedules, allows users to manage them through an intuitive graphical interface, and then evaluates the cargo profitability of the schedule by performing what-if simulations. The solution recommends sales targets based on previous year’s targets as well as expected demand that has been allocated to the available cargo capacity. The solution also includes tactical and operational reports that provide key insights into the performance of sales teams across the organization.

Typically Cargo is an after thought in most passenger airlines and cruise ferries in terms of schedules, equipment and profitability. The passenger network team comes up with medium term schedules and short-term schedules based on passenger demand on an origin-destination basis. Today, there are no tools available in the industry that can react to these passenger schedules using cargo demand to calculate the impact of cargo revenue. Foresight will address this challenge along with addressing the setting of sales targets and tracking for the cargo sales team across the network

The three major components of Foresight include:

1.       Schedule Optimizer

2.       Sales Targets and tracking

3.       Freighter Schedule

Schedule Optimizer - It is essential for cargo to have a voice in the network optimization decisions.  Many times when schedule analysis is conducted, cargo is an after thought. In some cases cargo demand is a just a courtesy input. With airlines and cruise ferries trying to scoop every last penny to improve its bottom line as well as top line, it is imperative that they take a long term view on the health of their business.

This module’s primary object is to analyze schedules where demand forecasts at a network level are taken into account while evaluating the profitability of cargo for a given schedule.

Some features include:

•        Evaluate the network value/profitability of a given schedule

•        What-if analysis (impact on network profitability on changes to schedule)

•        Determine the optimal assignment of demand to routes

•        Identify bottleneck flights and the incremental capacity value

•        Identify flights with excess capacity

 

Sales Targets and Tracking– Sales targets are a projection of achievable sales revenues based on schedules, cost, capacity and expected demand for a future planning period. The accuracy of Sales plan is very important in sales performance evaluation and incentives across Cargo organization. Cargo departments struggle with setting up sales targets, as it is a manually intensive effort. Most airlines and cruise ferries set up sales targets based on previous year revenues or using a ‘top down’ approach based on the organizations’ targets set up by executive team. Some organizations take a ‘bottom up’ approach where the sales team can provide the targets for their respective lanes or stations , which can be summed up for the network and then approved and accepted by the executive team. The sales target module will provide a methodical approach to address this problem from both ‘top down’ and ‘bottom up’ approaches.

The module will also be able to measure sales targets based on actual flown AWB data on a weekly, monthly and quarterly level at an O&D, product, commodity, and service level categories. The module can be used to proactively monitor targets vs. actual revenues / profits along with measuring Revenue per available tonne miles (RATMs) which is a key performance indicator for the cargo organizations.

The benefits of the RTS Foresight solution include productivity gains and revenue improvement based on the mapping cargo demand to the schedules

"Revenue Technology Services is committed to providing value enhancing planning solutions to the air cargo and cruise ferry freight industry and in that spirit has built a comprehensive state of the art revenue planning sales target and tracking solution that will make the lives of cargo departments easier. Foresight will compliment our cargo revenue management solution, CargoProfitOpt and our price optimization solution, CargpPriceOpt completing the decision support package for the marketing and planning functions of cargo departments" said Mukundh Parthasarathy, Senior Vice President of Cargo Solutions at RTS.

About RTS

Revenue Technology Services is a worldwide provider of profit enhancing revenue management, scheduling and pricing software solutions for passenger and cargo, consulting services, and IT development support for the airline, cruise ferry, and rail industries. RTS is headquartered in Dallas, Texas with offices in UK, South Africa and India. For additional information, visit www.rtscorp.com or contact This email address is being protected from spambots. You need JavaScript enabled to view it. or 1-972-325-1250

For More Information on RTS Cargo products, please contact:

Lisa Martin

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