The Cooperative ParkeerService in collaboration with Monit Data will introduce an automatic connector between parking transactions and payments received data. This automatic audit is part of Monit Data’s Parking Monitor and provides ParkeerService with greater transparency and efficiency in the financial accountability of parking charges.
ParkeerService has decided to introduce an automatic connector between parking transactions and payments received data. Due to the variety in payment methods, payment terms, and parking equipment, good financial reporting is time and labor intensive. With an automatic link, audits are easier and financial accountability is more transparent for members. The solution will be delivered by Monit Data on January 1, 2022.
The complexity of parking payments
ParkeerService is a cooperative that implements parking policies. This includes issuing permits, remote or local management of parking equipment, collecting parking meter cash payments, and enforcement. The cooperative currently has 15 Dutch municipalities as members.
Part of the service provided by ParkeerService is the processing of parking payments for its members. This brings various challenges. Parking users pay in multiple ways, such as coins, paper money, debit card, credit card and mobile. All these payment methods have different lead times, and parking meters are also emptied at irregular times. In addition, equipment from different suppliers supplies data in different formats. All these factors make checking parking transactions with the payments received a difficult and time-consuming activity.
“We consider sound financial accountability for our members to be essential. With the new, automated working method that we are now introducing, we expect to be able to carry out the entire accounting process much more efficiently.” Arnold Geytenbeek – MD ParkeerService
To solve this challenge and to give members more insight into the financial accountability, ParkeerService was looking for a solution. This was found with the Payments Audit module of Monit Data.
Parking transactions, the applicable times and rates, and money counting and banking data are collected and combined in a fully automatic manner. During the automatic audit, ParkeerService can set at which deviation a warning should follow.
“We are very pleased that we can help ParkeerService with more insight into the financial accountability of parking revenues for its members. It opens doors to further process and revenue optimization. This ties in with our vision that by converting raw data into valuable information parking operators can operate better and more efficiently.” Ernst Bos – MD Monit Data
Complete insights in parking
The Payments Audit module is part of the Monit Data Parking Monitor. The Parking Monitor combines data from various sources and suppliers in a standardized format. This is enriched into valuable information that provides many insights. Financial analysis can be performed, for example, on the different payment methods, types of subscriptions, income per neighborhood or time segment, and simulations of the effect of applying different rates.
In addition, the Parking Monitor can be used for insights into parking occupancy, scan-car data, enforcement and operational management. Adding EV charging and bicycle parking monitoring is also possible.
About Monit Data
Monit Data provides parking data analytics services for municipalities and private operators. User-friendly dashboards give clear information on car, EV and bicycle usage. Use data-driven insights for urban mobility policies and day-to-day operational management.
ParkeerService supports municipalities in implementing parking policies. In the city, we are a practical service provider and the point of contact for motorists, residents and companies. We are a non-profit parking cooperative by and for municipalities. Fifteen municipalities are currently participating in ParkeerService.