Over the years, how software is used by businesses has radically changed. Gone are the days when businesses spent hundreds of thousands of dollars to buy the software packages, and then another hundreds of thousands to implement them as well as costly ongoing maintenance. Only to realize within couple of years their software has become obsolete. Compounding the problem now is the rapid digitalization of various functions of the business, along with the rapidly changing business models to stay competitive and meet their customers’ changing expectations. In this digital world, making costly capital investments to own software makes no prudent business sense anymore.
Using software as a service, or “SaaS”, makes businesses more agile. It shifts the responsibility to the software service provider to keep their software up-to-date to meet the evolving needs of the business. But the success of these SaaS solutions depends on how closely they track the specific industry needs. Are they built ground up keeping the specific industry vertical in mind? Do they help digitalize the specific industry business processes? Further, how seamlessly they work together?
The cloud-based software SaaS has become particularly popular in the parking industry. Parking asset owners from universities to municipalities to private operators and everyone in between now need an extensive array of parking technologies. Each organization has its own unique needs, goals, and requirements for serving their patrons. An excellent way to do this is through a SaaS platform built ground up, for the parking industry, that allows them to identify the solutions they need, and incorporate them into one platform.
Parking vertical SaaS solutions offer a number of benefits that are particularly useful in today’s environment:
- Fitting hand in glove with the needs of the parking industry end-to-end operations.
- Ability to pick and choose and customize the solutions that are right for the operations and meet the unique needs of the customers they serve.
- Reduced costs due to minimal hardware needs such as cameras, equipment, and hardware, as well as software installation expenses common in previous technologies.
- Flexibility to implement solutions on a “pay as you go” with no long-term commitments.
- Scale up and down as business needs changes due to seasonality or other factors.
- Simple to understand and easy to use technologies, allowing parking staff to implement tasks and obtain and evaluate data to make the best decisions for the operation.
- Minimal maintenance required due to cloud-based platform with regular updates and fixes when needed.
ParkEngage implements innovative parking vertical SaaS solutions through a parking industry platform. With a number of years of parking industry experience, we have built parking solutions to digitalize virtually every aspect of the parking operation. We work with our clients to identify the technologies that work best for their end-to-end parking operation. In the next few blogs we would talk about the blueprint for digitalization of various processes involved in parking operations.
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