If you find yourself often parking for work, whether you are driving around visiting clients and customers or parking in the same place every day, it can be tedious to expense each hour of parking costs. And if you are the one collecting the receipts, the hours of parking cost management and reimbursement can add up. That’s why ParkMobile for Business can help make your administrative activities easier, so you can focus on your day-to-day.
How parking costs can affect your business:
- Parking fees add up: In urban areas or commercial districts, parking fees can be exorbitant. When employees park individually, each incurs these costs separately. Over time, these expenses accumulate, eating into the fleet budget unexpectedly, especially when paying for time you may not need.
- Time suck: Coordinating individual parking receipts can be time-consuming for fleet or office managers. It involves communicating with employees, monitoring reimbursements or allowances, and potentially dealing with parking violations or disputes. This administrative burden takes away time that could be better spent just about anywhere else.
- Missed opportunities for cost savings: By centralizing parking arrangements, fleet managers can negotiate bulk rates or secure discounts with parking payment providers. However, when employees handle parking individually, these opportunities for cost savings are often missed.
- Lack of oversight: Individual parking expenses can lack proper oversight. This opens the door to abuse or misuse of parking privileges, such as using company funds for personal parking or parking in unauthorized areas. Without centralized management, it’s challenging to enforce parking policies effectively.
So, what can fleet managers do to mitigate the impact of employee individual parking expenses?
- Centralize parking management: Implement a centralized parking management system that allows for better coordination and oversight.
- Find the right places to park: This can result in significant cost savings for the company.
- Implement Parking Policies: Establish clear policies regarding parking reimbursements, allowances, and usage guidelines. Enforce these policies consistently to ensure fair and equitable treatment for all employees.
- Utilize Technology: Leverage parking management software and parking payment apps to streamline the process of tracking expenses and vehicles. Automation can help reduce administrative burden and improve efficiency.
Where ParkMobile for Business comes in
With the ParkMobile for Business platform, your employees can experience a centralized, hassle-free payment system for when parking on the job. As an admin of your business’s ParkMobile for Business account, you can receive all payments from every vehicle and driver on one monthly statement. You can also have a 24/7 view of your company’s parking costs and patterns. And with over 800 locations nationwide, you can be sure your employees never have to circle the block trying to find a place to park or waste time running back to feed the meter.
With the ParkMobile for Business wallet, you can enjoy reduced transaction fees on each parking session, no matter where you are parking. And since the average expense report costs $56 to submit, review, correct, and approve, putting the process on a single platform saves you time, effort, and money.
Creating a ParkMobile for Business account is easy: sign up with an administrator’s email address, and from there, add your drivers and vehicles. There is no limit to the number of vehicles you can add. Drivers can log into the ParkMobile app under the email associated with the company account, and use the app as normal: all parking costs will be billed to the chosen payment method.
By addressing the hidden costs associated with employee individual parking expenses, fleet and office managers can not only save money but also free up valuable time and resources to focus on more strategic initiatives. Effective parking management is not just about finding a place to park—it’s about optimizing resources and maximizing value for the entire organization. Learn more today!
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