The Parking Genius

Commentary

Parking has changed dramatically as we have made our way through the Pandemic. Parking technology has become a key factor in meeting the needs of consumers and operators. Parkers rely on technology to provide safety, convenience, and a contact-free user experience, while operators seek a more efficient and simple management strategy.  In many cases this has spurred digital transformation on a scale never seen before.

Now is the time if you have not deep dived this process, to get started. Our team at Space Genius can help guide your own digital transformation. Give us a call and get started today.

Key Parking Indicator: Miles Driven

Covid kept people home and off the road for all of 2020 and most of 2021. That had a direct impact on parking volume everywhere.

“U.S. driving rose 11.2% for all of 2021, to 3.23 trillion vehicle miles, up from 2020’s 2.9 trillion. That was the lowest yearly total since 2003 as COVID shutdowns drastically reduced road use.” Reuters

US miles driven exceeded 2019 levels for the first time in November and December 2021. Travel on US roads rose 11.2% in December 2021 compared with December 2020, the second straight month that driving surpassed pre-COVID-19 levels, according to the U.S. Department of Transportation. This is the same time frame we observed that Parking turned the corner and streaked ahead of 2019 levels.

A key trend is that more single passenger commuters are driving themselves back to work, rather than taking public transportation or ride-share. That has put pressure on public parking availability.

It’s All About Technology

“The move towards innovative technologies to improve parking access control and payment automation is the number one trend that is having the greatest effect on the parking industry.” Parking Network

As noted by Sonny Samra, Pay-ByPhone, here are some of the top parking industry technology trends for 2022:

• The Switch to 5G: By the end of 2022, there will be 900 million 5G phones sold. The switch to a faster and more reliable network will be a defining tech trend for the year. It could mean higher rates of adoption for mobile payments. It could also improve access to smart parking systems for users on the go.
• Computer Vision and Pattern Recognition: Computer vision and pattern recognition keep getting better. There are different applications in the world of mobility. For instance, operators can scan license plates and identify users automatically. Cities can also monitor traffic flow and adjust pricing and parking availability in real-time. On-board cameras that assist drivers with parking are another interesting use of this technology.
• Mobility-as-a-Service: The rise of mobility-as-a-service and the tech platforms to support it are creating a new model in parking. With more mobility services becoming connected, convenience will never be higher for people using connected (i.e. ridesharing and delivery) services, so owning a car might one day stop being the norm.
• EVs and Charging: Thanks to innovations in battery technology, including fuel cell EVs with longer ranges, as well as government backing and a wider selection from manufacturers than ever, we’ll see more EVs on the roads in 2022.EVs have the potential of helping reduce our dependence on fossil fuels. But adding charging stations to parking lots and spaces will be critical in 2022, and vitally important for supporting EV adoption as this could be a future bottleneck.
• Connected Cars: Automakers are using more tech than ever in their cars. With better connected features like 5G and edge computing, it might be possible to completely rely on a car’s dashboard instead of a phone. Drivers could complete tasks like finding and reserving parking spots, and paying for parking from their dashboards in the near future.

The Impact of COVID…So Far

“The parking industry is not what it used to be. Parking trends have shown that COVID has forever changed how people interact with parking. Organizations within the industry need to adapt to keep up and meet the needs of American drivers in a post-pandemic society, which likely means turning to technology that prioritizes safety, convenience, and user experience for consumers and simplified management for operators.” Eddie Westerfield, Chief Product Officer at GET IT

Smart Parking has arrived and will change the face of parking as it provides all of the above benefits. Smart Parking is driven by tech solutions such as mobile apps, LPR, Bluetooth sensors and cameras.

Reservations have shown considerable growth as they guarantee spaces in busy venues like sporting events, public parking facilities, office parks, etc. Reservations offer convenience and peace of mind to drivers and operational efficiencies to parking operators.

Genius Tips

How to Set Up Cancellation Fees to Protect Your Revenue

The ability to add a Cancellation Fee is a new feature of our system.  Frequently seen in the travel industry, cancellation fees help to insulate your business from loss created by cancellations.

Some important things to know about the new Cancellation Fee feature are:

1. It will enable you to put a non-refundable fee into place for a cancellation that does not show on the Price Summary Detail of a reservation.
2. It will only be available to view by an end user if they choose to cancel their reservation.
3. This Cancellation fee can be set to a dollar amount or a percentage.

Simple to implement, cancellation fees can be set up within the system at three different levels:  Company Level, Location Level, and Channel Level.

Company Level

At the Company Level, Cancellation Fees are set up by Space Genius. To set up a Cancellation Fee at the Company Level you MUST submit a ticket to support@smartluis.com.

Location Level and Channel Level

The Cancellation Fee can be set at the Location Level or the Channel Level by you, the customer. Follow these easy steps for set up.

The steps to set this feature on the Location Level are as follows:

1. Choose Locations under Company Settings in the left navigation menu
2. On the Locations page select the Edit button to the right of the location
3. On the Edit Locations page select Configurations from the right navigation menu
4. On the Local Configurations page select Cancellation Fee
5. Select Cancellation Fee Type from the drop-down menu of Dollar or Percent and enter the dollar or percentage in the Amount field
6. Select Save

The steps to set this feature on a Channel Level are as follows:

1. Choose Locations under Company settings in the left navigation menu
2. On the Locations page use the drop-down arrow to the left of the location to expand the channels grid.
3. Select the edit button to the right of the channel
4. On the Edit Channel page select Configurations from the right navigation menu
5. On the Channel Configurations page select Cancellation Fee
6. Select Cancellation Fee Type from the drop-down menu of Dollar or Percent and enter the dollar or percentage in the Amount field.
7. Select Save

Get started now with the new Cancellation Fee feature. Recover losses generated by cancellations and watch the impact to your bottom line.

For assistance or more information, contact support@smartluis.com.