Fleets could boost efficiency and cut costs by analysing their parking procedures, says Brannan Coady, CEO at YourParkingSpace.

Brannan Coady, CEO at YourParkingSpace

In an era where efficiency and cost savings are paramount for businesses, the traditional approach to parking is facing scrutiny. Fleet managers are increasingly recognising the true impact of parking-related issues on their operations, leading them to explore various innovations to alleviate these challenges.

However, what is required by most businesses is a simple change in their parking habits to become more proactive and less reactive when it comes to parking.

For too long, parking has been an afterthought, something that everyone deals with when they arrive at their destination. Pre-booking parking used to be something that was done only when going to the airport. But, with the rise of various parking platforms, the ability to pre-book parking has become more accessible in many locations across the country, especially in busy cities.

Hidden costs for fleets

It’s a scenario familiar to many: a valuable driver, equipped with a delivery or service vehicle, circles city streets, endlessly searching for that elusive parking spot. Minutes turn into wasted hours throughout the week, fuel is consumed needlessly, and operational efficiency dwindles. Recent survey data shows that these parking challenges are costing fleets more than just time; they’re costing money.

A UK study by VW Commercial Vehicles (reported in Fleet World), revealed that van drivers alone had been hit by more than £1.7m in fines in the previous three years for incorrectly parking or using stopping bays, probably because they couldn’t find anywhere to park. However, recent research from YourParkingSpace has discovered that drivers can save on average 47% for each pre-booked parking session and completely remove the risk of receiving a parking fine for not having a valid ticket.

Pre-booking parking guarantees a spot is available when the fleet user reaches their destination. With around a third of motorists delayed by up to 30 minutes due to not being able to find a parking space, the time and resources wasted have repercussions far beyond the initial frustration, with the potential to erode profitability and hinder operational success.

Smart parking solutions

As the company has grown within the parking world, we have realised fleet managers’ needs for increasing parking efficiency as a demonstration of how they’re reviewing rising costs across all areas.

We can assist fleet managers in block- booking spaces on a subscription-based service, ensuring they have a guaranteed space when they need it, at the lowest price. This new ‘turn-up and pull-in’ approach helps reduce fuel consumption, minimises late arrivals and optimises daily routes.

Looking ahead, plans to expand our self-service platform to allow fleet managers to add and remove vehicles as needed are already underway.

Embracing the electric future

As the automotive industry continues to transition towards EVs, fleet managers also need to start planning how their fleet will get around. YourParkingSpace is rolling out more charging points, but is also working on the deployment of a ‘Park and Charge’ functionality within our app, with a view to launching in Q1 2024. This new feature will allow fleet users to reserve a charging point, further maximising time efficiencies due to the driver knowing their EV will be able to be charged at its destination.

Furthermore, with the Government’s recent announcement of the National Parking Platform, on-street parking and charging could also become a reality in the not-too-distant future, opening the door to further parking options for fleet managers.