Stop Parking Revenue Loss with LPR & Pay-on-Exit Tech
For parking operators, property owners, and property managers, the invisible threat of revenue leakage is a familiar challenge. Revenue loss may stem from human error, intentional misuse of parking, such as tailgating other vehicles, or limitations in parking operations. But what if we told you that your parking facility could automatically capture revenue that would otherwise be lost? ParqEx has addressed the revenue loss and leakage problems. Our robust combination of license plate reading cameras and our pay-on-exit payment system provides a solution to revenue leakage in your parking operations. Stop parking revenue loss with LPR and pay-on-exit tech from ParqEx!
The Problem: Parking Facility Revenue Leakage
Parking facilities, lots, and parking garages without robust access control systems or enforcement measures face the recurring problem of parking revenue leakage. Parking facility revenue leakage occurs when vehicles manage to leave the facility without paying for parking and take full advantage, and then some, of grace periods. More often than not, these cases go entirely unnoticed by parking management or parking operators, explaining why we claim it’s an invisible threat.
But even parking facility access control systems, like gate arms or ticket kiosk-based models, experience revenue loss. Tickets are “lost,” gate arms malfunction, vehicles tailgate paying vehicles, and enforcement is genuinely inconsistent. This is where we state: stop parking revenue loss with LPR & pay-on-exit tech from ParqEx! Our tech-driven solution is the immediate answer to the parking facility revenue leakage problem.
The ParqEx Answer: LPR + Pay-on-Exit
ParqEx’s access control parking license plate reading technology automatically captures images of every vehicle’s license plate upon both entry and exit of the parking facility in real-time. When this camera-operated access control system is combined with the pay-on-exit payment process, parking operators, owners, and managers can regain revenue control over their property.
Here’s LPR + Pay-On-Exit Works Together:
- Vehicle Enters: Only pre-approved users (with payment information included in their profile on the ParqEx parking app) can access the property. The LPR system captures the license plate number and automatically logs these approved vehicles’ timestamps in real time. The User experience—there is no need for tickets or gates; the car is tracked by its license plate.
- Vehicle Exits: The LPR parking system recognizes the plate, automatically calculates the parking duration based on entrance and exit timestamps, and immediately charges the driver based on pre-set rates for the exact duration of their stay.
This simple ParqEx automation eliminates potential loopholes and results in secure revenue control.
Real Results: Revenue Recovered in Real Time
One of our current properties has benefited from LPR and recently activated the ParqEx pay-on-exit feature. Since the property has utilized both LPR and pay-on-exit technology together, it has consistently identified 2-3 unpaid transactions daily, situations in which vehicles would have otherwise exited without payment.
2-3 caught transactions per day already contribute to the property’s bottom line. However, during peak traffic periods such as weekends, events, or favorable weather seasons, that number can spike to 15-30 unpaid transactions captured and converted to revenue in just a single day! Before ParqEx’s property technology and pay-on-exit payment system, these vehicles would have left the property entirely unnoticed, leading to thousands of dollars in revenue loss for the property each month.
With ParqEx, any vehicle that leaves without payment will automatically be charged once the LPR camera detects that the car has exited the property. Stop parking revenue loss with LPR and pay-on-exit tech without adding extra staff or complicated manual enforcement measures.
Why It Works – The Explanation is Simple
- ParqEx Automation = Accuracy: ParqEx’s LPR cameras capture each vehicle’s license plate with near-perfect accuracy, eliminating the human error that often occurs in manually operated systems.
- Touchless and Easy for Drivers: Drivers no longer need to keep track of tickets (or worry about losing them), and there are no confusing kiosks to navigate at entry and exit. Approved drivers can simply enter the parking facility and park, while the system takes care of the rest.
- Zero Tolerance for Lost Revenue: Every vehicle’s entry and exit is tracked and reconciled. If a car tries to exit without payment, the system detects it, captures the information, and immediately charges the user using the payment info already provided in their user profile.
That’s a Wrap on Stop Parking Revenue Loss with LPR & Pay-on-Exit Tech
Parking revenue leakage is the silent killer of parking profits. When properties take advantage of ParqEx’s LPR and pay-on-exit payment systems, property owners, managers, and parking operators can plug those leaks and transform every parking session into real parking revenue and profit.
Remember, ParqEx’s most recent property to activate the pay-on-exit feature has already seen 2-3 recovered transactions on a daily basis. That is significant in terms of savings and profit! So just imagine what a massive boost in revenue the property is about to experience during the peak summer season, anticipating to catch 15-30 unpaid exits daily! All that without lifting a finger or investing in more parking staff or enforcement officers.
Stop parking revenue loss with LPR and pay-on-exit tech! Contact a ParqEx sales representative today!
