Fare management as a travel professional is increasingly complex, and even more so if you work with other travel companies too. As a business, it’s crucial to have the right fares to receive enough profit, distribute commissions to agents, and communicate clearly with your travelers. Managing multiple parties and conveying the correct prices while making sure the deals are profitable can easily get complicated. That’s where our software comes into play. In Victoury, you get a clear overview of your prices, taxes, profits, and commissions, you get to manage your buy and sell prices and have special offers for each individual price all in one platform. This article explores all the relevant price settings that can make your work easier.
Overview:
- Entry/Buy and Sell Prices with individual taxes and commissions
- Custom Deal Price without modifying your original sell prices
- Special offers and discounts
- Calculation Sheets for easy fares
- Adding taxes and currencies in your financial settings
- Automatically calculated Down Payments
- Setting Agent Commissions for product categories or codes
The Difference Between Entry and Sell Prices
Our system makes a difference between the buy and sell prices of a product. The buy price is your entry price as you would get it from a supplier. In the price details, you can define the unit buy price and add the tax and commission related to it. Once you have the buy price down, you can freely modify the profit and markup percentages to get an automatic sell price.
The sell price can be modified independently as well. This is where you would add any additional taxes when making a sale so the price gets calculated with the tax.
Custom Overall Deal Price or per Traveler
The final deal price can be changed without modifying the original price of your product. This is done in the Deal Details page under the “Travelers” table. Simply click on the Sell price field and modify it as needed. The “Total Sell” column shows the original prices for reference. This feature allows you to round up prices or further edit your final price as needed.
Special Offers and Discounts
Every price has the option for special offers and discounts, called price rules in our system. If you have special offers for early bookers in the summer season, you can set this up for a price available during the season without influencing others. Or if you offer discounts for seniors, you can set up a rule to automatically apply the senior discount when a deal’s traveler is over a specific age.
Adding a price rule is quick. This is done in the price details of a product in the Price rules section. Select the type and fill in the fields. Most rules can be set for the sell, buy, or sell and buy prices, further customizing your fares.
Please check the Help Center Article on Price Rules for a list of the available offers and how to set them up.
Calculation Sheets for Easy Fares
Victoury also has a tool called the Calculation Sheet. This tool allows you to input the entry prices for a package and your expected markup or profit to automatically calculate the appropriate fare for your package for different time slots and group numbers. The sheets also include sell taxes if there are any. After adding everything, you can save the prices and products into the system. This tool is also a way to modify a package’s prices quickly.
Adding Taxes and Currencies in Your Financial Settings
Your Victoury account can have multiple taxes and currencies so you can cater to a global audience. Taxes can be separated by the area they’re available in and by brand.
Automatically Calculated Down Payments
The financial settings also include an “Invoice” section where you can set your down payment calculation settings along with the text shown on the invoices.
The available down payment settings are:
- Payment type – fixed or a percentage
- The down payment amount (either as a number or percentage)
- To maximum – setting a maximum amount for the percentage option
- The due date in days
- The total amount due date (balance)
Setting Agent Commissions for Product Categories or Codes
Victoury has a difference between travelers and customers. In the customer’s case, this can be either an agent, a company, or the person paying for the trip. If the customer is an agent and they get a commission, the percentage can be set in their customer profile under the “Agent” section. They can have a default commission, and specific commissions for product categories (such as hotels, group tours, etc.) or product codes (a specific product).
Chat with us and get a personalized demo
Victoury is more than a fare calculator – it’s a comprehensive tool to manage your travel business and streamline your operations. Our software has functionalities for both B2B and B2C business models with automation for emails, travel documents, and supplier orders. Your Victoury account can be connected to other systems and websites to exchange data or display products online.
Contact our team today and chat with a representative to see how your workflow can be improved with Victoury. Request a demo here: https://victoury.be/request-a-demo/
