The booking engine solution that streamlines transactions on your marketplace
A booking engine provides the framework which drives bookings from initiation to completion.
Bookings are the central element of a transaction between a customer and a vendor. They begin when a customer makes a service request, and end once all elements of the service, including payment, are complete.
The Cocolabs booking engine offers a wide-ranging set of tools, features and business rules that streamline and secure bookings on your marketplace.
Rate based prices
Rate Based Prices are the notion that a price is directly related to the duration of a service. This is commonly practiced in rental services booking engines, such as hospitality (price per night) or consultancy services (hourly or daily rate).
Rate Based Prices are amongst the most common pricing policies in the service industry. Cocolabs complements this pricing policy with tools such as price variability (price changes depending on when it is ordered), volume discounts, minimum and maximum service durations and the ability to add complementary options to each service booking.
Seat based prices
Seat Based Prices is a policy where the cost of a service is directly related to the number of persons consuming it. This is a common pricing policy in education booking engines (price per student), entertainment industry booking engines (price per ticket) and collective activities booking engines such as yoga lessons (price per participant).
Seat Based Prices typically also entail the notion of sessions, which are moments predefined by the vendor when the service is rendered. This means that customers can only choose amongst the sessions that have been predetermined.
Finally, stock management of the number of available seats is necessary for each session, for instance to decrement the number of seats available at a given session as they are ordered online through the booking engine or offline.
Service based prices
Service Based Prices offer the one of the most flexible approaches to setting the price of a service. This pricing policy builds a price from one or several services that can be ordered concurrently within the booking engine, each service carrying a fixed price and duration. This is commonly practiced in personal services, such as hairdressing, where you can combine several services (haircut, color, extensions…).
Services Based Prices are a universal approach to selling services online, in particular through their ability to form a bespoke offer through the combination of multiple services, as desired by the consumer.
Quote based price
Quote Based Prices are used when the price of a service cannot be determined in advance. This is useful for complex services, or services whose environment is difficult to define, such as bespoke software development or home renovation services.
In this pricing model, a booking begins by the customer expressing the service he requires, which is sent as a quote request to the vendor. Once the customer receives his offers, he selects a quote and the transactional phase of the booking can be launched.
The Cocolabs booking engine offers workflows and business rules that adapt to each service case
Booking engine workflows dictate the sequence of events following the online purchase of a service. Equipped with flexible workflow tools, Cocolabs offers unlimited possibilities that adapt to your business rules and service typologies.
Workflow statuses include managing service requests, quotations, acceptations, expirations, refusals, mediations, disputes, completions, payment errors and more. The combination of these statuses, along with the ease of creating new statuses and sequences, enables the Cocolabs booking engine to offer exactly the workflows your service marketplace requires.
As a result of perfectly adapted workflows on your booking engine, service providers and customers alike are guided on a clear path to successful service completion.
Tools and rules adapted to the habits of booking services online, and sometimes cancelling them
Returning a product and being refunded is commonplace when purchasing goods. You can’t however return a service. Cancellation and refund rules therefore cannot be transposed from product e-commerce solutions.
Cancellation rules and policies take into account the moments at which a cancellation is possible, and the refund amount that the client is entitled to. Typically refund amounts vary depending on on the time left between when the cancellation was requested, and when the service was meant to start.
Placing trust on users provides better experiences for both customers and vendors
Cocolabs offers mediation tools that can be activated by either the vendor or the customer at any moment through the booking engine. Launching a mediation informs both parties and allows them to engage in a discussion which may conclude in a revision of the price.
In the rare events where a mediation request does not conclude positively between the parties, a dispute can be elevated to the platform operator so that a trusted third party may help resolve the disagreement.
Build consumer trust by propagating the reputation of each service up to the corresponding provider and then to the platform.
The reputation of a marketplace results directly from the quality of the services that are rendered by vendors on the platform, but also from the quality of the customers that are connected to vendors. The Cocolabs booking engine offers the entire tool set required to build and manage the reputation of individual services, service providers, and when needed also to build the reputation of customers.
One way or two ways
As marketplaces replace traditional service distribution channels, it is also becoming more and more common to see consumers be rated by their service provider at the completion of a booking.
Cocolabs natively offers the traditional one way rating of service providers by customers, but also two way ratings when this is adapted to your business case (both parties rate each other).
Launch your marketplace with confidence
Contact a project manager and find out how Cocolabs can meet your needs.
Find out in a few minutes if our services are suitable for your project and get more information about our marketplace solution, as well as costs and lead times.