Revenue Management Outsourcing
Are you looking for someone with Revenue Management expertise who can be responsible for revenue optimisation at your company?
Revenue Management Outsourcing is an alternative to hiring a Revenue Manager and gaining direct access to our Revenue Management experts who become part of the commercial team. Our outsourcing services cover both takting care of pricing and of the e-Commerce platform including our own website.
Taktikon’s Outsourcing services create the opportunity to control cost and at the same time ensure comprehensive expertise in profit optimisation. This means that the company gets an external and highly competent employee who works within the commercial team and at the same time ensures application of Revenue Management.
Taktikon’s Outsourcing is perfect for:
The Benefits of Revenue Management Outsourcing
The optimum result is reached. Direct access to Taktikon’s experienced Revenue Management experts results in Taktikon being able to ensure that the work towards profit optimisation takes place from day one, without long handovers. We work with the most up-to-date methods and thus help our clients to have the most optimal pricing and distribution strategy that generates the best possible financial results.
Reduced cost. Hiring Taktikon for Revenue Management Outsourcing is more cost effective than hiring a Revenue Manager. It is especially fit for smaller hotels or for those working on a tighter budget. Taktikon takes care of Revenue Management whilst the facility does not need to invest in related technology, skills development, recruitment, handovers, etc.
Winning market shares. Taktikon’s Revenue Management experts work hard to give the facility a significant advantage over their competitors by being a little smarter and sharper. Our goal is to increase revenue at least three percent more than our competitors. This is also why the Benchmarking reports are a crucial part of our work.
More focus on Sales and Operations. Operating a hotel is complicated and time-consuming. Revenue Management Outsourcing significantly reduces the workload. In addition, Taktikon takes care of the Revenue Management department in close cooperation with the other commercial departments, which allows a General Manager as well as any department heads to focus more on getting the property working optimally.
Why Taktikon for Revenue Management Outsourcing?
At Taktikon, we are goal-oriented, enduring and make things happen. We prioritize the most important and take the important next step in implementing Revenue Management strategies quickly and flexibly. We are prepared to adjust our strategies as needed and always have the desired future situation in sight. Along the way we make constant follow-ups so that we know that we are on the right track in both the short and long term.
Taktikon has a team of experienced Revenue Managers that enables us to ensure that the facility receives excellent Revenue Management from day one and all year round. This means that Taktikon ensures that a Revenue Manager is in place even during holiday time and in case of sick leave.
Tactics icon addresses the specific needs of the facility and adapts the strategies to their specific conditions
As the work is done from Taktikon’s Revenue Management office, we offer combined experience and expertise from day one and look at the specific needs and conditions of the plant.
Taktikon’s way of working
We help companies clarify the desired and future situation. Our working method is according to the PDCA method. This is a continuous process; make a plan, change, check, adjust and start planning again
Plan: we start with an analysis of the current situation; how is Revenue Management used today, what key metrics are measured, what works well, what can be better, what are the challenges and can these be influenced.
Do: the next step is to actually test our findings in real life. We make small changes and see what the result is, after which more improvements are made.
Check: Taktikon makes constant checks in order to ensure that improvements always are tested with reality.
Adjust: what worked well and can be improved, what did not work too well and why?
Step 1: Revenue Management Audit
Before starting a Revenue Outsourcing project, we always perform a market analysis where we see how we can best optimise results. A Revenue Management audit can include the following ingredients:
- Price vs Review Score Analysis
- OTA performance report
- Market Mix Analysis
- Benchmarking and Fair Share Report
Step 2: Implementing Revenue Outsourcing
To get started with Revenue Management Outsourcing, Taktikon only needs to have access to the various systems. With many projects across Europe, we know most systems and need no learning.
- Property Management System
- Channel Management System / Central Reservation Systems
- Rate Shopping Tools
- Benchmarking reports
Step 3: We are in process
Taktikon works after the Revenue Management Wheel, which means that we constantly test and evaluate ourselves. This is how we have become and remain the best at what we do:
Analysis: SWOT analysis, Event affecting demand, Company positioning in the market, customer buying behavior, outcome of previous sales and benchmarking reports
Forecast: We predict demand by conducting a market forecast where we take into account events that affect demand, lead times and customer buying behavior.
Strategy: The analysis and forecast lead us to form the optimal strategy, where we develop the best Price and Distribution strategy and find the optimal sales and marketing activities
Implementation: where we implement our strategy and ensure that it is communicated to the appropriate departments
Analysis: In this step, we analyze the results of our strategies to constantly improve. Was it good? How can we use this information to improve us? Did it get less good? What did we learn from that?