With the introduction of Automated Configuration for its G3 revenue management system (RMS), IDeaS, an SAS company and the world's largest provider of hospitality revenue management software and services, has reduced the initial configuration of G3 from weeks to as little as one day, depending on client needs and requirements.
By utilising data science, IDeaS offers a feature that enables its clients to quickly realise returns on their technological investments. Customers will gain confidence in system settings and decisions by replacing guessing with optimal settings based on science, save time by lowering the amount of manual setup and training needed, and accelerate ROI with a system that generates revenue-enhancing decisions from day one.
To guarantee confidence in a property's system settings and outputs, Automatic Configuration for G3 RMS completes the following modules:
Optimal pricing, Last Room Value, and overbooking restrictions are used to maximise room performance through the automatic grouping of room types that have comparable pricing and demand into room classes.
Market segment and rate codes – These two factors work together to generate forecast groupings that improve optimisation and revenue performance by assigning guest behavior-based qualities to market segments and combining rate codes with similar behaviours.
Price configuration: Establishes the principal product pricing approach for a property and guarantees that G3 RMS generates the best data-driven pricing. For each room class, G3 chooses the room kinds and offers the floor and ceiling pricing points.
Determines the best competitive configuration, including which rivals' prices have an impact on pricing choices and which channels and competitor data are displayed in G3. With the use of this information, hoteliers are able to fully utilise market data to guide their pricing decisions and automatically assign competitive room types to room classes with similar price points.
Christian Boerger, vice president of revenue strategy at Oxford Collection, stated: "IDeaS' new automated configuration procedure has been great. We installed G3 RMS at 17 hotels. The amount of time and work saved is astounding; this has been our fastest deployment.
When working with The Guest House at Graceland, Marci Garcia, CRME, director of revenue strategies at Revenue Matters, said: "Automated configuration for G3 RMS helps us to capture more money straight away, with less ramp-up time. It's like having a second revenue manager on staff who is constantly reviewing the data.
Product manager at IDeaS Jason Barnett stated: "Our development team constantly strives to make our system more effective and user-friendly. IDeaS stands apart from the competition thanks to its creativity and dedication to its client success initiatives. We'll keep paying attention to what our clients want in order to deliver simple solutions that speed up their workflows and guarantee a short time to value.