The days of losing revenue to constant equipment maintenance and upgrades are on their way out. We’re living in an app-driven, tech-forward, interconnected world where equipment manufacturers have accelerated the pace of the upgrade cycle from years to months. We have a sustainable way to disrupt this expensive cycle while keeping the tools of your business sharp and your profits in your pocket.
Hardware-as-a-Service (HaaS) is our model for positively changing how equipment expenses, maintenance contracts, and technology upgrades work. Here, we’re examining how parking owners and managers can escape the cycle of losing their profits to upgrades and unexpected costs. By adopting HaaS, your parking equipment is never out-of-date or depreciating, and you gain clear visibility into your bottom-line. The result: a future-proofed parking solution.
Using the HaaS model, you pay a consistent, affordable monthly fee, making it easy to keep your business running and competitive.
Why Does The World Need HaaS?
HaaS is an operating model many of us can easily understand, and it’s going to be a critical factor in expanding the lifetime of your parking business’ operations and profitability.
To grasp HaaS firmly, let’s use the example of something that’s likely very dear to you: your smartphone. When you purchased your device, it was probably brand new, had “the best” features, took the sharpest pictures, and connected to the fastest network. It was fantastic. But unless you bought your phone within the last year, it’s probably already outdated. Phone manufacturers operate at breakneck speed to stay ahead of their competitors. The result is that your device depreciates faster than ever.
The manufacturer offers an “easy fix”: buy a newer phone. All you need to do is pay roughly the same amount as you did for your older device. If you can’t afford that, you’ll have to hold off until you have the cashflow or wait until you’ve finished financing the old model you have right now.
If you’ve ever purchased or upgraded equipment for your parking facility, you’re familiar with this same cycle—only with a much bigger price tag. Like your phone, buying and re-buying the tech that keeps your business running at the same pace that manufacturers release improvements is unsustainable.
What’s needed to get past this antiquated process is a business model that replaces legacy hardware as soon as it’s out-of-date and eliminates the huge capital expense of a total refit. That’s how businesses will survive, and it’s how we put HaaS to work.
HaaS Breaks The Cycle Of Big Spending
For a parking facility manager, the costs pile up. You’re expected to outright buy your gates, kiosks, parking revenue software, and all other assets. With them, you’ll be forced into a maintenance contract to service and upgrade your equipment over time. If any parts of your system need an unexpected upgrade, that’s an extra cost. When your equipment depreciates to zero, you’ll have to buy new versions of everything and start all over.
HaaS turns that standard on its head. The up-front cost is gone, as is the burden of having to finance equipment or seek out investors. Gone too is the stress of worrying about the unexpected fees to cover breakdowns. The money you typically lose from paying for out-of-warranty repairs or intermittent upgrades stays in your pocket.
Using the HaaS model, you pay a consistent, affordable monthly fee. When you sign up with us, for the life of our partnership, we provide you with the hardware upgrades, software updates, regular maintenance, and flexibility to improve your services as you see fit. In short, we make it easy to keep your business running and competitive.
Why You’re Losing Parking Revenue
Your success in parking operations goes hand-in-hand with how up-to-date your services are. Providing consumers with the conveniences they expect, like automated parking, online booking, digital payment, and touchless entry, can get expensive.
In addition to keeping features modern, parking revenue management must account for the costs you can’t see coming. What if the software standard for credit card processing changes? What happens if your equipment fails? How much will any downtime cost you? What if your consumers demand new features and technology you don’t have?
The old system of buying equipment and paying to have it serviced forced you to put aside money to cover unexpected costs. Additionally, you might still be financing your current equipment or saving toward your next overhaul. All these hurdles make it challenging to determine if you made a profit last month. You deserve better.
HaaS takes the uncertainty away. You don’t need to worry about paying off your equipment because we upgrade it as part of our partnership—likely well before you would typically replace it yourself. You don’t need to worry if you can afford the next software update—our service includes it. There are never any out-of-warranty repair costs because your equipment is covered for the duration of its service. You’re investing in a partnership, and with HaaS, we cover you at every turn.
HaaS Provides Innovation Without The Hurdles
With the confidence that your regular costs are covered, you have the freedom to focus on improving your property and facilities. Instead of saving for an unexpected expense, you can upgrade spaces with electric vehicle chargers or add room for shared mobility solutions, like eBikes. Equipment issues, like innovations in payment processing, online reservations, mobile apps, and advances we can’t yet predict, will be taken care of—that’s our job.
Consider a software update as an example. In our partnership, we eliminate the process of paying for an update. We eliminate the wait for a technician to show up to perform an install. Our system is built in the cloud, and we use that power to deliver timely upgrades. When your software needs an update, you get it securely over the air, as soon as it’s available—all without unexpected costs.
The same goes for your parking equipment. When a new touchless payment system comes to the market, it’s in our interest to make sure you have it installed and operating as soon as possible. That keeps your business running smoothly, which keeps our partnership working optimally.
Disrupting The Big Expenditure Cycle
We’re not about changing the upgrade cycle for your facility. We’re about breaking the cycle altogether. Our role shifts away from selling machines and charging for their maintenance. Instead, our job is to aggressively adopt the latest parking systems and technology available and deliver them to your door.
Using an HaaS model, you lower the financial barriers to equipping your operation with the latest technology. You minimize the risk of your investment in a high-end solution with an unpredictable lifespan. We provide a lifetime warranty along with routine service and updates, thereby eliminating unexpected costs and enabling parking revenue recovery. When consumers require new technologies that make transactions smoother, we’ll provide them to you as soon as they’re available.
With HaaS, we set you free to grow and scale your business.