We help our customers to implement Revenue Management, so that they can maximise their income by adjusting their pricing policy. That’s only if the services sold are actually collected. A multitude of causes can lead to invoicing errors, with the risk of losing a significant proportion of the gains made through Revenue Management.
All for the sake of undercharging. Fortunately, Revenue Integrity is watching out!
It's the year 2000 bug all over again!
With the growing complexity of pricing policies, the list of potential problems is as long as a President’s arm. We see them all too frequently with our customers not to alert you. Essentially, these are incorrectly applied discount rates, wrongly issued refunds, commissions paid on cancelled bookings or, worse still, structural causes such as general terms and conditions of sale that are not applied, or packages that turn out to be more expensive than the sum of their parts.
Revenue Integrity doesn't punish, it encourages
It scans the entire marketing chain: by assessing each stage, it makes its tour of France from marketing to invoicing, via the distribution pass and the sales time trial, pricing and yield.
We identify problems in systems that are increasingly intertwined with rules and data. And the result? It’s becoming increasingly complicated to ensure that everyone pays the right price.
Hiring a constable isn’t the right answer
It’s a question of measuring rather than monitoring, of getting to the root of the problem rather than applying a plaster on a wooden leg. You could certainly integrate tools for monitoring the competition and include yourself on the panel to check that your fares are not out of line. You might also be tempted to monitor voyagespirates.fr, which identifies good deals, and in particular abnormally low prices, due to parameter bugs.
You will certainly be able to correct a few errors, but this is tantamount to outsourcing Revenue Integrity to tools that are not designed for it.
Revenue Integrity audits, clarifies and repairs...
… and remains a fully-fledged component of Revenue Management, which it extends to optimise your results. As there are many causes of malfunctioning, we need to identify them one by one, in the form of procedural problems, increasingly complex parameterisation and inadequate coordination between departments. Revenue Integrity will identify the leaks through which your margins are escaping and make corrections that will provide lasting solutions. By clarifying and enriching the General Terms and Conditions, harmonising contracts, blocking functionalities in tools, providing leeway and escalation processes for exceptional cases, it secures all sales and invoicing circuits.
Revenue Integrity secures your invoicing
Offering the right price at all times is the result of complex parameterisation of a large number of variables. We’ve seen too many customers spoil the fruits of a magnificent RM job because of a succession of malfunctions that squandered the company’s bottom line.
To keep control, you need to support your pricing policy right through to the end, with the assurance that the system is working perfectly. By giving yourself the means to secure your commercial chain and making a process more reliable, you can move closer to operational excellence and secure your profits.
Keywords: Revenue Integrity, Revenue Management, pricing policies, general conditions, Pricing
