5 Reasons Businesses Need Smart Parking Solutions Now

Parking is an inevitable experience and something drivers do every day. Many people drive to work, to the grocery store, attend sporting events or even park in designated areas at home. At each of these locations, we must be able to park our car in order to perform the task at hand. For businesses and employers, this means parking lots or garages must have available spaces so that consumers can shop and team members can go into the office. Sometimes the parking experience is not always easy. Lots are full. Customers drive around aimlessly. Some customers give up and leave. Smart parking solutions enable businesses to make better use of existing parking spaces and improve a company’s bottom line. Here are the top 5 reasons why to invest in parking technology today:

1. Reduce operating costs and increase efficiency by 20%

Operating costs directly affect the profitability of a business. Parking lot and garage management is a significant operating cost for some businesses and with a smart parking solution, businesses can reduce operating costs and increase operating efficiency by 20%. Parking guidance technology is the key to smart parking. The technology utilizes infrared sensors and bluetooth technology that are 99.9% accurate to monitor parking areas, identify open spaces, and lead drivers to them. This reduces wear and tear on garages and ventilation systems, and saves on related energy costs. Plus, the system requires no personnel to operate, reducing staffing costs.

2. Increase revenue opportunities through dynamic pricing

Does your business ever experience a surge in demand at peak times of day or certain days of the week? Smart parking solutions empower business owners to understand driver trends and better maximize existing spaces to increase profits during peak or low periods. With ParkHelp’s real-time data management system, business owners can capitalize on revenue opportunities you didn’t even know you were missing.

3. Reduce driver frustration & find parking 50% faster

Americans on average spend 17 hours per year searching for parking, resulting in a cost of US $345 per driver in wasted time, fuel, and emissions*. In cities, it’s worse. 33% of city traffic is generated by people searching for parking because it takes drivers 20 minutes in pursuit of parking on average.* Parking guidance technology can simplify the parking experience by minimizing the amount of time spent looking for parking. On average, drivers spend 33% less time looking for parking in facilities utilizing smart parking technology. The first thing people see, and the last thing they remember about an experience with a business is parking.

4. Reduce CO2 Emissions by 50%

Not only is reducing your carbon footprint good for the planet, it’s smart business. In a 2015 Nielsen Report, brands that demonstrated a commitment to sustainability grew more than 4% globally, while those without grew less than 1%.* Smart Parking solutions expedite parking for drivers through reliable parking guidance and sensor systems, reducing unhealthy CO2 emissions. In fact, one parking owner was able to reduce their CO2 emissions by 50% by installing parking guidance technology.

5. Cloud Based & Open API for Future Proof Solutions

We get it. You need this to be the last parking parking management technology you buy. Make sure that your smart parking provider offers an open platform that allows for third party integrations and regular software updates so parking operators can continually offer next level service.