parking

Just the Right Amount of Parking

How employees use a space is one of the most important considerations for any building owner or facilities manager. They spend their time installing the sensor, analyzing usage and testing their conclusions. But these efforts are often focused on the inside of a building, where the employees spend most of their time and often neglect what is happening outside in the parking lot. Since parking is part of any buildings costs it stands to reason that this part of the property should also be held to the same kinds of efficiency standards as the inside. That is exactly what a company called Parkpnp intends to do.

After receiving €500,000 in funding the Irish company is hoping to expand its operations. They say that they have been able to help clients an average of $50,000 per year by better understanding their parking needs. I asked the company’s CMO Daithí de Buitléir how this was possible. He told me:

“Most companies have a massive parking overspend. Let’s say that it costs $200,000 a year for a company to rent 100 parking spaces as part of it’s overall office leasing plan. Most companies will designate these spaces to key staff. However, key staff go on holidays, they work abroad frequently, they spend a lot of time out of the office meeting clients, they get sick. All this time, their expensive parking spaces lie empty. From our research upwards of 25% of employee parking is lying idle at any given time. By using our technology to optimize their workplace parking, companies can park the same amount of cars in less space. Meaning potentially massive reductions for your real estate bill.”

How do they figure out the correct amount of parking? Easy, they just ask. Daithí told me, “On a weekly or daily basis, staff receives an email asking them their parking needs. We then allocate space to staff based on availability, previous usage, seniority, health, distance traveled and a host of other factors. The beauty of the product is that key staff can be guaranteed space, when they don’t need the space they can then release it for allocation to other employees.”

Technologies like this could become an increasingly important part of the property industry as remote working, alternative and public transportation and autonomous vehicles proliferate. As Daithí points out, parking is a universal need and therefore a universal problem, “some countries have lots of parking barriers, some have none. In some places you can get clamped, other places you can get parking fines. However, there is one constant and that is parking is fundamentally failing a lot of people and businesses. There are way more parking spaces than people in the world. We just need to be cleverer about how we use technology to ensure people can easily access the spaces.”

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