Calendar, scheduling and yield management in a service marketplace
Calendar, scheduling and yield management are at the heart of the economic output of every service provider.
Service marketplaces are symbiotic with the output capacity of every vendor. By organizing service requests to optimize the availabilities of service providers, a marketplace can maximize the yield of each vendor. This approach builds stronger relationships with service providers and increases platform revenues.
Cocolabs natively adresses these considerations and provides the tools and features to ensure that your marketplace offers a win-win-win relationship between customers, vendors and yourself.
Times during which business operate is often managed weekly, typically with 5 days of work and 2 days off. Cocorico lets vendors easily declare workdays and work hours, including breaks and varying opening hours.
Monthly recurring availabilities enable offerors to declare moments of each month where they are un/available to render their services. This allows rules such as “the second Monday of every month I am unavailable from 8am to 11am”.
Additionally to recurring availability management, service providers will regularly have specific events that punctually change availabilities. Managed through a drag & drop interface, offerors can add or delete un/availabilities at specific dates & times as their calendar changes.
Updating with bookings
Every time a service is booked, the vendor's calendar is immediately updated to reflect the new unavailability. This is also true with cancellations, where the calendar instantly becomes free again to new bookings.
Calendar synchronization reduces vendor workload and provides reliable scheduling options to customers
Cocolabs offers easy to use synchronization tools with the most popular calendar solutions such as Apple’s iCal and Google Calendar. A calendar and scheduling API is also available for more powerful vendor requirements.
These features empower marketplaces to present reliable service calendars and entices vendors to use your platform as the central point to synchronize and manage their scheduling.
Time is the measuring unit of service availability and pricing policies
Time units are directly linked to business rules. The hospitality industry typically uses “per night” units, for example to express the price of a hotel room. Boat rental marketplaces may use a price “per day” for each ship that’s available. Personal and business services such as consultancy work is often offered on a “per hour” basis, and in some cases is even precise to the minute.
Each time unit will incur specific business rules such as the fact that the shortest time range that you can book a hotel for is 2 dates (try it on booking.com).
Cocolabs offers the complete variety of time units and their corresponding business rules when scheduling bookings and updating calendars.
Many services require that a minimum and/or maximum duration be set for each booking. This capability aligns your marketplace with your vendors habitual business practices. This also ensures that orders correspond to the individual requirements of each seller.
More and more services are rendered at a distance (teleservicing). In these cases, setting appointment times needs to take into account the potential for multiple time zones, as vendors and customers can be very far appart.
Price variability is also referred to as "seasonal prices" in the tourism industry. These features enables vendors to set different pricing policies depending on the day or time at which the service is rendered
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.