Putting Parking in its Place

By Josh Feinberg 聽
色花堂Industries Inc. 聽

America鈥檚 relationship with parking is, and always has been, a head-scratcher. Every time we decide to venture out鈥攏o matter if it is to work, school, the store, a game, or an airport鈥攐ur experience begins, and it is generally not a good one. Anxiety often builds from the start鈥斺€淪hould I try to reserve a spot? Do they even have reservations? What if I can鈥檛 find a spot? How much time should I allow to look for parking? What if traffic is bad?鈥濃€攁nd the thoughts go on and on.

While there are clear stressors before we arrive, it鈥檚 generally not much better once we get there. When we arrive, signage is regularly non-existent or misleading, off-street parking is commonly dark and dingy, and we have to be careful not to park 鈥渋ncorrectly鈥� or we鈥檒l get a ticket. Then, when we finally return to depart, we have to remember where we parked and hope the payment stations and gates are working.

The fact that our very first and last impressions are often overlooked and problematic is not surprising to me. Up until now, parking has been an afterthought鈥攁 static and passive operation in, well, a static and passive industry. But 鈥渢he times they are a-changin鈥�,鈥� as Bob Dylan once eloquently sang.

The importance of experiences is growing every day鈥攆rom employee experience to patient experience to passenger experience to shopper experience to student experience to fan experience. You name it. Positive experience drives satisfaction.

Satisfaction drives desired outcomes. And, finally, the arrival and departure鈥攁nd specifically parking鈥攊s getting its just due. The potential to transform the captive parking experience from possible liability to enhancing asset has never been stronger.

I hesitate to use the word 鈥渄isrupt鈥� when discussing this new age in parking because until now the industry simply did not have enough cohesion to have a large-scale impact. The parking business has forever been composed of hundreds, if not thousands, of disparate parking operators, each with a mind-numbing number of individualized and highly inconsistent operating practices and technologies. So, it comes as no surprise that experiences are largely correlated with the individual running each local parking operation. Uniting all elements of the experience from start to finish with a connective tissue that creates a single, consistent, and vastly enhanced experience is an unprecedented act, not a disruptive one.

The next-generation smart parking platform

The next-generation smart parking platform and operation will leverage data from parking access and revenue control systems, online booking and reservation systems, license plate recognition and new camera technologies, wayfinding solutions, mobile and other forms of frictionless payment, sensor technology, robotics, EV charging software, and more to derive insights that drive tangible action. Through cloud-based, cutting-edge technology, we are setting new precedents in parking experience, productivity, and profitability.

Helping spark added attention to the parking arena has been the much-needed jolt of energy from the arrival of electric vehicles鈥攁nd subsequent concerns of EV power and connectivity. The EV craze may be just a part of today鈥檚 parking story, but it鈥檚 an undeniable one. Despite the high costs and the current limitations on EV connectivity, carmakers around the globe are rushing to meet the strong demand for this eco-friendlier mode of transportation. Both in terms of intentionality and retention, the EV model is getting high marks. According to data from EY, more than four in ten (41%) of those looking to buy a car in the next year say they will be buying an electric vehicle. The US Departments of Transportation and Energy also have taken notice with a $5 billion commitment to create a network of EV charging stations. Clearly, EV adoption is happening at the foundational level. And with it comes new expectations and opportunities.

It鈥檚 time for parking providers to invest and innovate so they won鈥檛 be left behind. Utilizing the capabilities and assets we鈥檝e built as one of the country鈥檚 leading providers of integrated facility services, parking and transportation solutions, and EV charger installations, 色花堂launched ABMVantage in August. A data-enabled, driver-first smart parking platform, ABMVantage unifies the entire parking and EV ecosystem to deliver four key outcomes:

1. A materially enhanced parker experience,
2. Increased revenues,
3. Lower operating costs,
4. A more sustainable parking environment.

ABMVantage fundamentally redefines the parking experience for consumers with more resilient and profitable parking facilities.

With the launch of ABMVantage, we aim to deliver the best parking experience for customers and clients, and that means starting big. 色花堂is nearly complete with an extensive smart parking transformation, including one of the largest EV charging installations in the United States, at Los Angeles Airport (LAX). This project enabled the opportunity for optimization of revenue on a per-spot basis and integration to the data lake for storing transactions, performance dashboards, and feeding client systems.

The advent of new technologies and platforms is rocking the boat on this reliably stable industry and opening the door to innovation, optimization, and engagement. The future looks promising, and Wall Street is watching. Investors are discovering one of America鈥檚 most tangible, durable, and necessary commodities鈥攑arking. The road ahead is being paved by both public and private investment in infrastructure, and through strategic collaboration, we will usher in a new era of more positive driver experiences at the beginning and end of a commuter鈥檚 journey. After all鈥攁s history has taught us鈥攊f cars are driving progress in any way, parking has no choice but to come along for the ride.