RateGain Technologies, a SaaS company for travel and hospitality, announces the launch of CarGain Canvas, an integrated market position analytics application that utilizes leading indicators to help car rental companies verify and rectify issues in their pricing strategy.
Due to the pandemic, car rental companies are unable to track and anticipate demand with precision, RateGain said in a statement. This lack of visibility leads to pricing challenges that directly impact revenue optimization.
Car rental companies can use CarGain Canvas’s filter options to analyze historical trends and track instant market changes by monitoring booking pace, tracking utilization, and get a 360-degree view of the market.
“Canvas is bridging the gap between our customer needs and the inability of existing platforms to give a clear and accurate picture,” said Harmeet Singh, CEO, RateGain.
Pricing managers have traditionally used analytics to get trends based on historical data which in the new normal is no longer a reliable source to make decisions. Using causal analytics as the base, CANVAS provides pricing teams actions they should take based on the change happening in the market real-time.
“RateGain’s Canvas is a game changer and a mission critical application as it helps us stay in sync with real-time market trends and compare our positions in the market,” said Tom Mallo, licensee owner of Budget Las Vegas. “With actionable insights based on leading indicators such as flight information on a day-to-day basis is helping us reduce manual effort, save cost of technology while making our forecasts more accurate.”