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Blog post: 5 ways to save on parking expenses
Revealing the hidden costs of poor parking management.
Every business watches its spending. But one area many miss? Parking costs. In a busy city, parking can get pricey: overpayments, parking fines, and long manual claim processes. Without streamlined parking expense management, costs add up fast. After reading this blog post, you'll see how digitizing your parking management can make a difference.
What’s wrong with the old parking meter?
The invention of the parking meter in 1928 brought order to the chaos of street parking. However, it also brought a whole new set of problems: running back and forth if you need to top-up the meter, having to overpay if you weren’t sure of how long you’d be, or else risk a parking fine.
Mobile parking apps have revolutionided the way we park and manage parking expenses. With EasyPark Business, you can control parking permissions, review costs, and get monthly invoices in a couple of clicks from a single portal. With all the figures at hand, you can analyse expense data to identify cost-saving opportunities and even customize your reporting. So, let’s look at how you can find cost-saving opportunities just by shifting from an outdated parking system to a cashless and paperless mobile parking app. If your company is starting to grow to a larger size, congratulate yourself and take a really close look at the 5 tips below. There’s money to save.
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Did you know about all these hidden costs?
Think of the time spent dealing with expense reporting. Not to mention the time spent on administering the parking costs or fines. And all the interruptions in your employees' workday, due to extending the parking, and using the parking meter. Little by little, these hidden costs build up to impact your business’ performance. But it doesn’t have to be this way.
To understand the hidden cost of parking, consider the cumulative effect of these seemingly minor annoyances that can result in hefty overpayments.
Miscalculating parking durations
Not having access to real-time pricing
Simply human error
Then come the penalties. Parking fines and penalty charge notices, often due to manual errors or oversights, compound the problem and lead to unbudgeted expenses.
“Time spent finding a spot and paying for parking can quickly add up to full working days”
Ways to save on parking costs
The path to reducing these hidden costs is paved with an app and some smart tools. With EasyPark Business, you can easily track and manage parking costs. This user-friendly expense management platform will give you a clear picture of how much you spend on parking. Analyse the data and discover hidden cost-saving opportunities. Just making this strategic shift to a digital tool will save you a lot of time. Time better spent on your core business. You’ll receive a single invoice per cost center and remove the hours spent on dealing with individual parking expenses.
The same time-is-money saving trick is true for your employees. All that time spent finding a spot and paying for parking can quickly add up to full working days or weeks. Instead, your employees can handle their parking in only a few taps with our truly user-friendly app. In wrapping up, this also makes parking payments clearer and helps everyone follow parking rules. Your employees stay for as little or as long as they need without overpaying or worrying about fines. With a tap, they can stop the parking session if they need to leave earlier than planned or prolong it if they need to stay for longer.
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5 tips to save time and money on parking
Now, take a moment to reflect on how these tips can improve efficiency and save costs, particularly if your company is growing to a larger size.
Digitalisation
Shift to digital parking payment and automated expense administration
Analyse the data
Put all the data on the table and uncover new cost-saving opportunities
Take control
Prevent abuse by limiting use to operating hours and approved vehicles
Don't overpay
Avoid overpaying for parking with the stop feature
Learn about GST
Learn more about smart GST opportunities
Cost savings and beyond
In the end, the hidden costs of parking might seem small but they matter. It's not just about saving money, it’s also about making work smoother for everyone. You aren't just reducing costs, you're reimagining workflows, improving employee satisfaction, and paving the way for a future where parking pains become a thing of the past.
EasyPark’s Business solution doesn’t just help you save; it makes parking way easier. You can pay for parking, reduce the risk of parking fines, optimise parking time, and track expenses. When you have an overview of your parking costs, you can easily manage and streamline your financial tracking. This user-friendly digital platform will simplify your parking administration while helping you control costs. The icing on the cake? Many of your employees might already know EasyPark from using the app themselves.
Now you’re ready to catch an opportunity that many businesses are missing out on. Dig into this bite-sized lesson on GST deductions and we’ll teach you. Hint: It's important to keep your receipts organised for proper declaration.
Discover the solution that fits your needs
For medium and large enterprises
In the dynamic landscape of medium and large enterprises, optimizing costs and streamlining operations is a top priority. With EasyPark Business, your employees can manage their parking effortlessly, eliminating the tedious task of reimbursement reports. Discover how EasyPark Business can enhance your employee experiences and boost your administrative efficiency.
For small businesses
In the world of small businesses and self-employment, every moment and resource counts. EasyPark Business simplifies parking management, saving you time and frustration when it comes to finding spots, making payments, and managing receipts. All your parking-related expenses are unified into a single invoice for your convenience.
