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Why Parking Management Is Important To A Business’s Success?

Why Parking Management Is Important To A Business’s Success? One might wonder why parking management is important to a business’s success. When a business starts thinking about parking, the first thing that comes into consideration is needs and rules. Retail giants structure their parking offerings usually as a giant lot out front. There is a reason for it. According to K&E Flatwork LLC, by turning the surrounding area into parking spaces, they ensure customers can — and will — shop as much as they need to. Having ample, usable parking can attract customers and instil loyalty in existing ones. On the other hand, a lack of readily available parking has been proven to deter potential customers.

Parking is the first touchpoint a business has with its customers. A positive interaction starts the customer experience off on a good note. However, a poor experience can make customers frustrated from the start. Much like the layout of a space, noise level or even temperature, parking can make or break the way a customer feels when they are visiting a business. It is likely to determine whether or not they return. Furthermore, 40% of drivers say they avoid places where parking is a challenge.

Above all, parking can impact the bottom line in two main ways. Firstly, forgone revenue from poor parking. When customers can’t find a place to park or the parking situation is too much hassle, they often just choose another business to support. In a theoretical restaurant scenario, failing to consider parking would cost the restaurant a minimum of 40% of its annual revenue. Secondly, through an additional source of revenue. That is to say, charging for parking can be a small, incremental increase in revenue. Even if you choose to offer validation for customers, charging for parking offers you the additional opportunity to source revenue from patrons of nearby businesses.

What Is A Parking Management System?

Now that we know why parking management is important to a business’s success. Do you know what is a parking management system? Parking Management System automates a car parking system. It optimizes parking space and makes the process efficient. As well as gives parking information such as vehicle and slot counts, available slots display, reserved parking, pay-and-park options, easy payments, reports, and other features. That is to say, it combines technology and human innovation in an effort to use as few resources as possible. This includes fuel, time and space – to achieve faster, easier and denser parking of vehicles for the majority of the time they remain idle. It also helps preserve various resources and reduce carbon emissions.

What Are The Features Of Parking Management?

You might be wondering what are the features of parking management. It lessens the time and boosts efficiency. Above all, in overpopulated zones, well-implemented parking strategies are a must. It offers a real-time solution to both – the parking lot owner and the vehicle owner as it facilitates hassle-free vehicles parking and subdues management costs. It offers an end-to-end user and operator management solution with features such as:

  • Improved efficiencies in time management of parking lots especially in large set-ups during peak hours
  • Optimum utilization of fuel while tracking vacant space for parking
  • Provide accurate detailing of parking available as well as the spot for convenience
  • Less usage of manpower and rather automates managing the parking directions
  • Improved power consumption with precise details on parking information

What Is The Process Of Work?

It is an organized system that saves the customers the time and hassle of finding a spot to park as well as boosts efficiency. Let us explain what is the process of work.

  1. An organized dashboard system is installed at the parking entrance. This provides a one-view of complete level-wise details such as capacity, vacancy, and in-transit numbers of vehicles.
  2. Customers can look at the availability on the dashboard and choose their choice of the level they wish to park. Each level has different billboards that are installed to provide a complete map view of the parking slots.
  3. The system is designed in such a way that the occupancy status of the selected parking slot automatically changes once the customer has parked their vehicle in the spot.
  4.  The exit process is also well defined where the status of the parking slot automatically turns in transit when a vehicle is removed from the slot and till the time it exits the main entrance.
  5. Once the vehicle has exited, the status of the parking slot turns to empty automatically. This is how the cyclic automated system is designed and integrated to manage the Smart Parking System.

What Are The Benefits Of Parking Management?

Smart Parking is one of the fastest-growing needs of a developing city. Malls, airports, multiplexes, hospitals and large corporate areas are a few places that can benefit greatly from integrating smart parking into their systems. Let us tell you what are the benefits of parking management.

  • Fully automated
  • User-friendly solution
  • Wireless enabled communication
  • Central GUI monitoring
  • Flow of traffic
  • Investment in long term
  • Cost-effective
  • Simple installation process
  • Low-maintenance system

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