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A Robust Yield Management System is the Most Powerful Parking Management Tool for Maximizing Revenue
A Yield Management System allows parking companies to adjust their parking prices based on supply and demand. Parking Reservation Software’s Yield Optimization is integrated into reservations, inventory and pricing functionality. It uses Dynamic Pricing Strategy and Price Optimization in an automated program to help increase revenue.
Seamlessly integrated into our Central Parking Reservation System, the powerful web-based Yield Management System is specifically developed to help Clients manage and streamline daily parking information: credit cards, cash, customers, services and staff time.
The Parking Reservation Software Yield Management System offers:
- A fully integrated, central back-office system that allows data to flow smoothly from one database to the other in real-time.
- Designed to help Clients manage revenue and accurately produce detailed reports for forecasting, calculating and capturing customer and financial data in a real-time environment.
- Equipped with the data and reporting needed to execute these three critical elements:
- Demand Forecasting – Methods for forecasting the future parking demands based on past events using historical data
- Dynamic Pricing – Allows Clients to make pricing adjustments based on available inventory, supply and demand and seasonality, to determine the right price at the right time
- Inventory Allocation – Reserve inventory to specific price tiers, based upon demand forecast and dynamic pricing structure
Yield management system is based on a history of real data. It is a daily, weekly, and quarterly strategy that helps increase annual revenues. We’ll show you how your parking business can begin to utilize this powerful tool.