Smarter Pricing Solutions using AI

Deploying advanced AI-driven tools to gather and structure contractual information, building a comprehensive pricing database for a global travel logistics firm.

The Challenge

The global travel logistics firm was facing significant challenges in managing and leveraging its pricing data effectively. With pricing information buried in various contract documents and scattered across multiple systems, commercial teams found it difficult to:

• Quickly retrieve and compare current and historical service pricing
• Understand where they stood in terms of pricing across different stations and customers
• Recognise trends and patterns to support data-driven decision-making during negotiations

This lack of visibility and easy access to pricing data made it harder to optimise pricing strategies, identify revenue opportunities, and maintain a competitive position in the market.

They needed a solution that would allow them to easily query and analyse their pricing across multiple dimensions, ensuring that they could make informed, timely decisions.

The Solution

QuantSpark leveraged the extraction and outputs from its ARC AI solution to create a centralised pricing database tailored to the client's needs. The solution offers an intuitive, user-friendly interface that allows users across the organisation to query and analyse pricing data with ease. This solution provides visibility into historical and current pricing, empowering the business to make smarter decisions and optimise their pricing strategies.

The first phase of the solution is composed of three key capabilities:

• • Interactive dashboards that allow users to query historical pricing and gain a clear line of sight into the source documents from which each price was extracted.

• • Detailed investigation of service pricing distribution across customers and stations.
  • Enrichment of pricing data with relevant metadata, including aircraft categories and exchange values.

• • Mapping of services and aircraft descriptions to a consolidated list, enabling clear comparisons and insights.

These capabilities ensure the client can track pricing variations, compare data across customers and stations, and use insights to drive commercial decisions.

Visual Insights

• Pricing Overview: Summarises contract data by showing which contracts are active between chosen dates, broken down by stations and customers.
• Pricing Distributions: Allows users to explore the pricing spread across different service categories and analyse by station, customer, or aircraft.
• Pricing Source: Provides a deep dive into the original contract PDFs, showing the extracted service pricing alongside the contract documents.

Next Steps

We have created a detailed roadmap focused on generating ROI for the global travel logistics firm through a more competitive and intelligent pricing solution. This roadmap outlines both short-term and long-term initiatives to ensure continued value.

In the short term, we focus on:

• Enhancing the model’s extraction accuracy to provide even more precise pricing insights.
• Developing a tool to assess extraction quality, identifying areas for model refinement and optimisation.

Looking at the long term, our strategic roadmap includes:

• Data enrichment to integrate additional data sources, delivering more comprehensive insights.
• Price benchmarking and resource optimisation, allows the business to better gauge their pricing strategies relative to the market.
• Smart pricing recommendations that use both internal data and external market factors to suggest optimal pricing strategies.

These steps are designed to ensure that the client's pricing decisions are not only data-driven but also aligned with market conditions, ultimately leading to greater ROI and a stronger competitive edge.

By addressing the client's pricing challenges, QuantSpark’s solution has achieved streamlined decision-making, improved competitive positioning, and supported overall business profitability.

For more information on how this solution could help your business click here.