Beyond Revenue Management: Wiremind’s CAYZN Introduces Three New Game-Changing Products for Augmented Commercial Performance

Sruthi Kolukuluri

16 March 2023

Passenger

Share

In an ever-changing business environment, Revenue Management Solutions (RMS) have become indispensable for the success and growth of transportation companies. As businesses adapt to fluctuating market conditions and evolving customer needs, optimizing capacity and pricing remains a critical challenge. Wiremind’s CAYZN steps in as a powerful RMS, streamlining the process of managing capacity and pricing for revenue optimization, and helping businesses generate more revenue, improve client satisfaction, and increase profitability. The introduction of three new products has made the tool even more flexible and powerful. In this article, we will explore CAYZN and its three new product additions.

What is CAYZN?

CAYZN is an intuitive RMS designed by industry experts to provide an advanced AI-powered solution for RM professionals. It streamlines the process of managing capacity and pricing for revenue optimization. This advanced solution presents all relevant information in a single view, eliminating the need to switch tabs or use complicated Excel files. Its user-friendly interface allows users to quickly become proficient with its features, freeing up time to focus on core responsibilities.

CAYZN equips users to:

• Access all vital information on a single screen, improving efficiency and reducing the potential for errors.
• Automate repetitive tasks and manage multiple variables with ease, increasing productivity and freeing up valuable time.
• Identify optimal price paths thanks to real-time AI-powered forecasting and competitor tracking.
• Set up real-time alerts to be notified of the competition’s price change instantly, allowing you to make data-driven pricing decisions.

CAYZN has an impressive track record, helping clients generate over $10 billion in revenue and priced 250 million tickets last year alone. Achieving an increase of 5-15% in revenue for clients, CAYZN’s real-time forecasting and optimization pipeline can manage thousands of departures per day, guiding businesses toward the optimal price path to maximize revenues and/or load factor.

New CAYZN Additions for Improved Revenue Management

We believe that RM lies at the core of a transportation company’s commercial performance. Recognizing its pivotal role, CAYZN has matured to offer an augmented suite of solutions that extend beyond the traditional scope of RM. By embracing a broader focus on commercial performance, we aim to create a next-generation ecosystem with RM as its central pillar. This comprehensive approach integrates various aspects of the business, equipping companies with the tools and insights needed to drive growth, optimize operations, and achieve competitive advantage.

We envision a powerful Commercial Performance suite that optimizes not only seats but also pre and post-booking services and offers an overall commercial performance view of your business. In line with this vision and our ongoing commitment to product excellence, we have expanded our offering with the addition of three new products.

Here is a quick glimpse of the new products added to CAYZN:

CAYZN Recovery Engine

As a Revenue Manager in the transportation sector, you understand the challenges posed by spilled services and the impact they have on your business. Spilled services occur when your seats are filled too quickly, resulting in lost revenue potential for tickets that might have been sold for a higher price. CAYZN Recovery Engine is specifically designed to tackle this issue, providing a powerful solution that integrates seamlessly with existing CAYZN ecosystem. This integration allows for the precise identification of revenue opportunities, resulting in more accurate forecasts and targeted strategies. Using this, businesses can efficiently capitalize on emerging trends, and optimize their pricing decisions.

Our intuitive Recovery Engine activates post-booking features, such as swapping or upgrading, through a user-friendly rebooking platform. By recovering seats on journeys that fill up too quickly, CAYZN Recovery Engine unlocks additional revenue from existing capacity and optimizes revenue management processes.

Use CAYZN Recovery Engine to:

• Proactively predict which days your seats will be fully booked, allowing for strategic planning and management.
• Estimate potential losses early on and adjust your pricing based on market demand to maximize revenue.
• Enhance customer satisfaction and simultaneously recover revenue loss by offering passengers a refund, swap of service, or an upgrade.

For example, an overbooked train for a certain journey can be post-optimized through the Recovery Engine tool to rebook reservations. By offering early-booking passengers (who booked when prices were low) the option to choose an alternative journey with more available seats, you can free up space on the sold-out train for those who need it, in order to generate additional revenue.

CAYZN Ancillary Management

In today’s highly competitive business landscape, it is crucial for companies to explore and maximize every potential revenue stream. CAYZN Ancillary Management is a groundbreaking tool designed to help you unlock the hidden value of ancillary services, an often overlooked source of potential revenue.

This intuitive tool is equipped with powerful real-time visualization widgets specifically tailored to manage ancillary services. Combined with advanced machine learning algorithms and data-driven analytics, CAYZN Ancillary Management empowers businesses to optimize the effectiveness and profitability of their ancillary offerings.

With CAYZN Ancillary Management, you can:

• Seamlessly incorporate additional baggage, upgrades, and other ancillary services to your passenger tickets, enhancing customer experience and satisfaction.
• Utilize dynamic pricing strategies to set optimal prices for your ancillary services, ensuring maximum revenue generation.
• Leverage precise booking forecasts to strategically sell ancillaries well in advance, such as offering upgrades with confidence, and knowing that your seats won’t be overbooked — early forecast insights enable you to make informed decisions.
• Gain valuable insights into customer patterns and trends for your ancillary services, enabling data-driven decision-making and strategic planning.

For example, transport providers can leverage CAYZN Ancillary Management to offer customers the option to purchase additional services like purchasing adjacent seats, offering them time-to-think, and more. By harnessing the power of machine learning and algorithms, the tool helps determine the optimal price for each service, thereby driving additional revenue for the company.

CAYZN Horizon

Elevate your business intelligence and strategic decision-making with CAYZN Horizon, a cutting-edge solution designed specifically for C-level executives and team managers. CAYZN Horizon distinguishes itself from other BI modules by offering a unique strength: seamless integration with other CAYZN modules. By connecting directly to our optimizer and RM modules, CAYZN Horizon transforms your revenue management tool into a comprehensive Commercial Performance suite.

The platform also stands out from traditional Business Intelligence (BI) solutions through its innovative features that cater to modern businesses’ dynamic needs. Its real-time capabilities enable users to access up-to-date information, ensuring that decision-makers always have the most relevant data at their fingertips. Additionally, it delivers final forecast information with remarkable speed, allowing for rapid adjustments in strategy to address emerging trends or challenges. Its unique drill-down workflow offers a comprehensive overview of a business’s strengths and weaknesses in just one minute, streamlining the analysis process and ensuring that critical insights are never missed. In essence, CAYZN Horizon revolutionizes the way businesses approach data-driven decision-making by offering a fast, efficient, and intuitive solution.

Experience the unmatched capabilities of CAYZN Horizon:

• Access a macro view of your company’s performance as a C-Level executive or team manager.
• Access past performance data and gain insights into future performance through reliable forecasts, enhancing decision-making and strategic planning.
• Zoom in on specific routes on specific days, months, or even years to get accurate insights that will help you identify weaknesses accurately.
• Leverage the seamless integration with other CAYZN modules for a comprehensive understanding of your revenue management potential.

For example, a transportation company can utilize CAYZN Horizon to monitor overall performance across multiple properties. The intuitive drill-down workflow allows managers to swiftly pinpoint which properties are performing well and which ones need improvement. Armed with this knowledge, they can make data-driven decisions on resource allocation and overall performance enhancement.

The Next Generation of Revenue Management

Revenue management is evolving, and Wiremind is staying ahead of the curve. With the addition of the Recovery Engine, Ancillary Management, and Horizon modules, CAYZN aims to offer a more comprehensive commercial performance ecosystem with RM at the core. Whether you’re looking to recover lost revenue, generate more revenue from ancillary services, or get a more in-depth understanding of your business performance, CAYZN has the tools you need to succeed.

If you want to increase your revenue by 5-15% compared to traditional revenue management systems, try CAYZN for yourself today. Book a free demo with us by dropping a mail at info@wiremind.io.

Stay tuned for more information and further deep-dive into each of these products in the coming weeks!