Kowee Park Solutions
KOWEE PARK EDITION . KOWEE PARK SERVICES
The only software solutions in the world solely dedicated to the optimization of parking revenues.
KOWEE PARK EDITION
Manage and optimize your car park revenues with innovative Yield Management and Pricing tools, dedicated to the car park sector.
Yield Management techniques are eligible to the car park sector … but the classical Yield models do not apply.
KOWEE PARK EDITION proposes ad hoc Yield solutions that take into account the uniqueness of a car park business model, adressing in particular the trade-off to find between short and long-stay vehicles.
KOWEE PARK EDITION solutions are specifically designed for car park managers providing them with ad hoc tools to gain control on the revenues of the parking lots they propose, be they urban or airport car parks.
KOWEE PARK EDITION is composed ot 3 families of product, all fully compatible and making it possible to:
- K-Analytics: Analyze the demand distribution to better follow-up and control the car park revenue
- K-Pricing: Design optimal pricing policies by performing simulations (based on mutliple business and pricing hypothesis) and instantly estimating the revenu impacts
- K-Yield: Optimize the car park revenues thanks to Yield / Dynamic Pricing modules applied to pre-booking requests as well as the turn-ups
Very simple to use, KOWEE PARK EDITION is available in SaaS mode, accessible 24/7.
The custom-tailored, cloud based Kowee reporting solution for car park actors around the world
K-ANALYTICS is a BI tool inclunding enriched revenue management dashboards to better control and follow-up the activity of the car parks.
- A knowledge base regurlaly fed by parking data able to manage millions of tickets.
- Interactive dashboards definitely business-driven: parking sell-out, distribution pattern of the entries per length of stay, most contributive vehicles per entry time and length of stay, etc.
- A secured web access to the reports
- Dedicated Revenue Management KPIs to take the best pricing policy decisions
- A daily update of the dash-boards based upon an automated interface with the equipment provider systems
WHAT’S IN IT FOR YOU?
K-ANALYTICS is the definitive reporting tool for your parking business. It helps you identify revenue optimization leverages on your local market and prepare for pricing policy changes. Unlike classical reports, it includes Revenue Management KPIs to easily track the potential for additional revenues.
Interactive and user friendly, this turn key online tool is based on a new generation BI technology.
K-PRICING is a real time pricing simulator helping you fine tune and optimize your pricing policies
K-PRICING is a pricing simulator software dedicated to the car park sector including multi price grids management, seasonality management, tariff grid structure evolutions, price elasticity hypothesis, etc.
K-PRICING is based upon the real time re-processing of past tickets that are automatically made available. Whatever the number of newly simulated price grids, special offers definition (week-end packages, etc.) and/or any type of tariff grid structure changes (linear, recursive, etc.), it instantly estimates the impact on your revenues and gives you all the elements on the relevancy of the pricing policy changes.
The real time simulation of structural tariff grid changes makes it a powerful decision-making tool for car park managers. The following questions are most easily addressed:
- Should we change the tariff after 1 hour of stay? Or 45 minutes? Between 4 and 8 hours of stay in the parking?
- Should we introduce seasonal rates?
- What are the threshold effects of any change in the pricing structure?
- How many vehicles are affected? Which customer segments will be proposed different tariffs than before?
- What are the consequences on revenue?
- What are the most likely hypothesis regarding client behavior? Will the demand volume decrease if we the price is raised by x%? In what proportions and with what effect on the revenues? What is the best trade-off between price and volume?)
K-PRICING makes it possible to measure the impact on the revenues and breaks it down into various axis: customer segment, day of week, etc.
K-PRICING presents the results in such a way that the readability and consistency of the pricing policy can be assessed (though “revenue-optimized,” the pricing policies primarily need to be understable, and easily disclosable to the market!).
K-PRICING is powerful enough to cope with day and night pricing policy differentiation if necessary (the client pays different rates according to the time zones it « crosses » along its full stay in the park): how much of revenue do we lose when introducing an attractive pricing policy for the night time zones?
K-PRICING is accessible 24/7 in SaaS mode: the engine uses a dedicated and fully secured database (daily refreshed with the new ticket transactions).
WHAT’S IN IT FOR YOU?
Unlike classical excel pricing spreadsheets – which are often used – K-PRICING makes it possible to simulate price changes at the finest level with an immediate estimate of the impacts on the revenues.
It integrates different elasticity criterion for the demand, customizable according to different customer segments (meeters and greeters, travelers, etc.), in order to create different scenarios and find the most efficient ones.
Connected in SaaS mode and connected to a daily updated database, the software makes it possible to adapt the pricing policies as often as necessary, tracking and simulating any local demand changes.
K-YIELD is a true car park Yield Management solution that helps you increase your revenues by 10%!
K- YIELD is a Yield Management software solution specifically designed for the car park sector:
- “True Yield” solution, K-YIELD is based on forecasts produced at the finest level (date/time of entry and length stay of the vehicles)
- It guarantees a proper trade-off between short-stay and long–stay vehicles
- It ensures 100% consistency between the turn-ups and pre-bookings
Revenue optimization of a car park is a problem similar to a « Tetris game » problem: the question is to find the optimal combination bewteen the various shapes coming down (or entering the park) so as to reduce the occupation (optimize it in a real car pak situation).
From a Yield Management perspective, it requires a completly different optimization model than in other classical Yield sectors:
- the question is not to select the most contributive vehicles amongst those cars entering at 8am in the parking
- but compare the requested pre-booking for an entry at 8am to all the competitive other potential entries at the same full time zones of stay (over 2 days for examples)
- … doing so, the combination of entry possibilities is infinite and only a dedicated engine can find its optimum!
K-YIELD has been designed in this perspective: it primarily addresss the question of the optimal trade-off to find between the various lengths of stay susceptible to enter the parking.
K-YIELD uses exclusive forecasting methods as well as unique optimization algorithms.
- The forecasting methods combine short-term demand estimates (entry of vehicles in a couple of hours) with long-term demand estimates (based on the seasonality of the demand:per day of the week, period of the year, etc.).
- The seasonal models are easily customizable to properly address the question of the calendar differences from one year to another (holiday periods, weekends, etc.)
K-YIELD offers an extremely simplified user interface making it immediate to control / fine tune the proposed dynamic prices in the various so-called Yield situations.
The applied Yield policies are therefore always 100% aligned with the sales and marketing strategy of the car park operator.
WHAT’S IN IT FOR YOU?
K-YIELD is the definitive Yield Management solution for a full control of your car park revenues, based on the most advanced revenue optimization techniques. When receiving and assessing the economic interest of a given pre-booking, the engine will automatically retrieve the proper price level to apply (that you will have defined in advance): is it a contributive or dilutive request? should it be favored (and therefore discounted) or unfavored (proposing the full fare)?
Easy to set-up though highly powerful, K-Yield is interactive and user friendly (the opposite of a black box): thanks to it, you gain back full control on the revenues of your car parks!
K-ANALYTICS is a unique business intelligence tools that gives a car park manager a unique vision on the activity and economy of its parks.
K-PRICING is a pricing simulation tool based on highly innovative algorithms enabling the real time recalculation of hundreds of thousands of tickets submitted to new pricing policies, considering elasticity parameters, traffic evolution, etc.
K-YIELD is a highly innovative Yield Management solution dedicated to the car park sector, addressing its « Tetris specifity » (optimal trade-off to find bewteen short and long stay vehicles) and producing 5 to 10% of additional revenues.
KOWEE PARK SERVICES
HELPS YOU GET FAMILIAR WITH KOWEE PARK EDITION SOLUTIONS
Building on its expertise of car park sector, Kowee provides consulting services including custom-made responses to the specific needs of its clients:
- Pre-study preparing the implementation of a car park booking system
- Specific pricing policy study when facing new competitive environment (like off-airport new car park actors)
- Specific pricing policy study when willing to change the marketing of existing car parks (how will the demand switch from a single park to 2 different parks addressing long-stay and short-stay different offerings?)
Kowee has designed specific training programs for the optimal use of its tools.
Kowee also offers further in-depth training on the implementation of Revenue Mmanagement policies by accompanying its customer teams (yield managers, price managers, etc.) in the elaboration of specific Yield transformation programs:
- Progressive approch towards the market in terms of tariff changes,
- Communication aspects,
- Internal alignment of the processes with the new Yield and Pricing policies,
If needed, Kowee also helps its clients for the recruitment of Revenue Management resources:
- Job description elaboration,
- Pre-selection of candidates and interviews,
- Recommendation letters
Relying on a team of expert consultants in both marketing, revenue optimization and the car park sector, Kowee puts its savoir-faire at the service of its customers, including recruitment and Yield transformation aspects.