Time to Purge the Surge in Ride Sharing
World first Australian technology can put an end to the “one way street” of surge pricing in the rapidly expanding ride share industry.
AutoYield’s dynamic variable pricing can offer passengers cheaper trips while maximising turnover for drivers.
CEO Martin McConnachie says AutoYield’s revolutionary system means fare pricing can be determined by real time supply and demand.
“Now with Uber the price only goes up in so-called surge pricing when demand is higher but there’s no reason why passengers and drivers can’t enjoy the benefits of lower demand,” Mr McConnachie said.
“AutoYield’s dynamic pricing is true, active yielding and achieves a smoothing-out and a greater average use of your service.
“A pricing variable will mean that people will seek-out economic times to travel.”
Mr McConnachie said there’s no doubt drivers should be earning more when demand is high but if the market is stimulated to travel in the off-peak times you are going to get a much more even flow of patronage.
“Being occupied 80% of the time as opposed to 20% of the time is obviously going to reflect a higher income for the driver – even if it is at a slightly lower rate,” Mr McConnachie said.
“Smaller online companies can compete with the big guys in real time,” Mr McConnachie said.
“AutoYield is not a massive expenditure or overhead – it’s a simple API that means prices will automatically adjust to live changes in the market.”
“The traditional taxi industry is under enormous threat from the likes of Uber and others.
“But once AutoYield is injected into the systems of modern cabs they will have the same power to calculate supply and demand and set their prices accordingly.”
AutoYield leads the world in dynamic variable pricing, as a cloud-based plug-in that can be adapted for a range of industries, including road transport, hotels, airlines, freight and tolls.
“From the business perspective, you’re getting a much greater spread of sale based on inventory holdings and you’re able to take advantage of peak times to marginally increase your rate and boost the bottom line,” Mr McConnachie said.
AutoYield’s capacity to embed within existing applications for point of sale, retail or distribution allows the automatic monitoring of sales, supply and demand as rate variation is generated within parameters set by any user.
Inquiries & Interview requests: Katherine McConnachie: +61 7 5667 3414