Rail revenue management: Short line rating in the age of the digital rail
Revenue management is critical for any company, railroad or not. Revenue inflow keep a railroad healthy and running, able to continue to adapt to digital innovations in the industry and remain competitive in their market.
But for short lines, revenue management has been characterized by aging systems, poor visibility, and manual processes that don’t provide the automated, integrated revenue management system that short lines need to drive operational efficiencies. At the end of the day, these systems don’t help you optimize your operations, or support compliance with new industry requirements.
One of the main challenges for short line railroads trying to digitalize and optimize their operations is cost and capability of implementation. Identifying processes in their revenue management where short lines can save costs and automate rating processes, takes them one step forward. And by having a partner in their digitalization journey, short lines can accelerate their modernization and stay ahead of the disruption cycle.
As a short line, your top consideration when looking at a digital revenue management system should be capability of standardizing processes in line haul, equipment, extra service, and accessorial rating in an easy-to-use interface. To accomplish this, the solution should be fitted with an automated rating engine that interfaces with pricing dockets, rail ops, waybill, and other business systems—all in order to automate the rating process.
Download this whitepaper today to learn more about how your railroad can benefit from a cloud-based revenue management solution.
CloudMoyo empowers rail and transportation companies to gain greater insights, unlock efficiencies, and improve agility in operations, revenue and asset management as well as critical areas of safety, crew scheduling and maintenance. Combined with deep rail industry expertise, our cloud-based, AI-driven solutions leverage cutting edge technology to reimagine railroad digitization.
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