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OTF works within many food sectors including restaurants, bars and fast food chains.
For the customer it presents an opportunity to view the menu, order and pay online.
For the operator it facilitates dynamic pricing on inventory that is perishable and subject to variations in demand.
A tee-time is the ultimate perishable product. On golf courses, the average time gap is an 8 minute interval which means operators have well in excess of 100 tee-times to sell every day.
Such a finite resource is subject to huge variations in demand making these technologies very relevant to this sector.
Implementing such a sales strategy would allow courses to incentivise purchase activity on periods of low demand and raise profit margins during periods of high demand.
Such businesses tend to sell time slots as an inventory. This may be an hour’s massage or a spinning class at the gym.
OTF technologies seek to maximise the revenue achieved from this perishable inventory.
This is particularly relevant in an environment where fixed costs remain constant.
This is a complex industry that involves selling an area for a set period of time.
This could be anything from a board room, to a Christmas party to a nightclub table.
Following the ‘use it or lose it’ ethos we are so familiar with, OTF technologies implement a strategy to both incentivise purchase activity and maximise revenue.
OTF technologies can be applied to many business strategies across varying industries.
It is imperative that we emphasise that your inventory needn’t fall into the perishable category.
If you think you work in a sector that may benefit from our technologies please do not hesitate to get in touch for an exploratory chat.
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