Start-Up Forum: Sciative Solutions
Anticipating the impact of technology, 14 years ago, TravelBiz Monitor introduced an industry-first live news portal, with hourly online reporting on travel, tourism, aviation and hospitality industries. Since then, we have created a niche for ourselves by providing analytical stories and statistical information to the travel trade on a regular basis. To keep this momentum going, the Editorial team has decided to showcase new-age technology products and services every month that have the potential to disrupt the market further. Moreover, the time now is also appropriate as the on-going pandemic has further widened the scope of using technology.
For this unique initiative, TravelBiz Monitor has partnered with ‘Start-up Mentor Board’, a visionary platform with credentials in business, technology, e-commerce, digital market place, payment solutions and IT infrastructure, to highlight the stories of new-age technology ideas. Start-up Mentor Board has been set-up as an initiative to mentor and guide the travel technology driven start–ups and facilitate collaboration in the larger travel ecosystem.
The Board is spearheaded by well-known thought leader Ashish Kumar, who is also the Co-Chairman of FICCI Travel Technology Committee. It comprises Bharti Maan, who has led start-ups to scale rapidly; Patrick Richards, an experienced travel industry leader in the UK; Chetan Kapoor, an analyst with deep understanding of the travel and tourism business and trends; Kartik Sharma, an artificial intelligence practitioner; Karthik Venkataraman, a digital transformation & an e-commerce visionary; Jure Bratkic, who led innovative solutions in the USA and Kyasha Bhoola, with expertise and advanced insight into the travel industry across Africa.
*One can register for the SMB Program at https://startupmentorboard.vgmrtechsolutions.com/form.html
Startup Name: Sciative Solutions
Core Team: Dr. Anshu Jalora, Founder & MD, Sciative and Vijeta Soni, Co-Founder & CEO, Sciative
Founding year: 2018
Company Website: https://www.sciative.com
Description: Sciative solution enables companies to offer right pricing EVERYTIME. With its award-winning artificial intelligence powered tech solutions, Sciative is transforming the pricing decision processes at organisations by bringing in speed, accuracy, automation, and scalability. Its pricing bots continuously monitor customer, competition, and market behaviour, and provide real time optimal price corrections in response to any changes in the behaviours. This not only keeps the business on the growth and profitability track, but also builds customer loyalty by avoiding unfavorable pricing.
Viaje.AI is Sciative’s fully automated dynamic pricing solution for the travel industry. Its unique artificial intelligence powered demand forecasting algorithm accurately predicts a bus/flight trip level demand and customer willingness-to-pay many months in advance. Further every 15 mins, based on changes in market demand and supply, it updates the forecasts to keep itself up-to-date. Its prescriptive engine computes the seat level optimal price for each leg or via-route in the trip, with the objective of achieving a minimum level of occupancy and maximizing the trip revenues. Across seasons, markets, pandemic vs. non-pandemic scenarios, and service types, Viaje.AI is consistently helping operators make 15% to 30% incremental top-line revenues.