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Urmi Axis, a bustling commercial complex in Mumbai, faced the common challenge of managing parking operations efficiently and ensuring seamless revenue collection. With a mix of daily visitors and long-term tenants, implementing a system that differentiates between paid parking and whitelisted vehicles seemed daunting. However, by leveraging a Fastag and ANPR -based smart collection system, Urmi Axis was able to achieve remarkable results and transform their parking operations.
Prior to the implementation of the Fastag-based smart collection system, Urmi Axis relied on manual cash collection from parking visitors. This process was time-consuming, prone to errors, and led to revenue leakages. Additionally, distinguishing between tenants' vehicles and daily visitors' vehicles proved to be a complex task, often resulting in confusion and disputes..
To overcome these challenges, the facility management company partnered with Barrel Scope Solutions Pvt Ltd to implement a digital Fee Collection and Access control system. The setup utilized RFID and OCR (Optical Character Recognition) technology to enable seamless and automated payment processing for visitors, while tenants' vehicles were whitelisted in the system, exempting them from paying parking fees.
The implementation process began with the installation of underground magnetic Loop sensors, Automatic Number Plate reading cameras and RFID scanners for identifying a vehicle through its FASTag and number plate. This system was installed at both entry and exit points of the parking lot. Each visitor vehicle has to mandatorily have a standard number plate and almost all vehicles have a FASTag sticker on the windscreen. The FASTag can be recharged through numerous apps digitally by the vehicle owner. The entire system was integrated with a centralized management platform that allowed real-time monitoring and reporting of parking activities.
For tenants' vehicles, a streamlined whitelisting process was established. The system collected and stored the necessary vehicle details, such as license plate numbers, in a secure database. These vehicles were automatically recognized upon entry, ensuring a seamless parking experience without the need for payment.
The implementation of the Fastag-based smart collection system brought about significant improvements in parking operations at Urmi Axis. The results were nothing short of impressive:
Cash Collection Reduction:
With the system eliminating the need for manual cash collection, Urmi Axis experienced a complete elimination of cash transactions at the parking lot. This not only increased operational efficiency but also eliminated the risk of cash handling errors and revenue leakages.
Increase Revenue:
The introduction of the smart collection system led to a substantial increase in daily collection by 65%. The automated payment process and seamless parking experience attracted more visitors and encouraged compliance with parking fees, resulting in a significant revenue boost for Urmi Axis..
Enhanced User Experience:
The Fastag-based system provided a convenient and hassle-free parking experience for both visitors and tenants. The automated payment process reduced waiting times, eliminated the need for physical tickets, and enhanced overall customer satisfaction.
Real-Time Monitoring and Reporting:
The centralized management platform enabled Urmi Axis to monitor parking activities in real-time. They could generate comprehensive reports, analyze parking patterns, and make data-driven decisions to optimize their parking operations further..
The successful deployment of the Fastag-based smart collection system at Urmi Axis transformed their parking operations, leading to a dramatic reduction in cash collection, a significant increase in daily revenue, and an enhanced user experience. By leveraging cutting-edge technology and streamlining the differentiation between paid parking and whitelisted vehicles, Urmi Axis established an efficient and revenue-generating parking system. The case study stands as a testament to the transformative power of implementing innovative solutions to overcome operational challenges in the parking industry.
