ParkEfficient is the startup of the week 41: Intelligent management of company’s parking areas


Mobility

As progressive as many companies are now: Innovation stops with the management of their parking areas. Parking spaces are usually allocated per employee and are therefore empty during holidays, business trips or sick days. Not only does this sound uneconomical, it also creates dissatisfaction among employees who are looking for a parking space every morning.
Our startup of the week is tackling this inefficiency. ParkEfficent is developing an app with which vacant parking spaces can be determined and re-allocated. Managing Director Konstantin Wilms explains to us in the interview how exactly the app works and what other added value ParkEfficient offers.

Hi Konstantin. Thank you for taking the time today! Would you give us a short pitch to get us started?

The ParkEfficient App helps companies to achieve 140% utilization of their parking space – without risky overbooking, but with an intelligent allocation system.

That sounds like a very benefit-oriented solution. What does the app look like in detail and how does it work?

Our product is an app that can be individually adapted to the needs of our customers. Parking management in companies is often a complex problem that is strongly dependent on the organisational form, location and accessibility of the parking spaces.The majority of German companies offer their employees a very limited number of parking spaces, which are allocated according to the principles of fixed allocation or limited access. This inevitably means that up to 40% of the parking spaces are not optimally utilised every day, for example due to holidays, business trips, illness or mobile work.In addition, there are large differences with regard to the leasing/subsidisation of parking spaces: While some companies rent parking spaces/access points for a whole year, others rely on monthly debits or individual models.We offer unique solutions for unique cases.For each corporate customer, a profile is created that can only be accessed by employees. Modular features are then added. Depending on requirements, parking tickets can be offered on a monthly or daily basis and can be purchased free of charge or for a fee. Costs can be invoiced via the app or via a link to the customer’s payroll accounting system.With ParkEfficient, employees on long waiting lists have the opportunity to use the company’s own parking spaces. No more time is wasted on cost-intensive parking searches in large cities. The data collected by the ParkEfficient App enables daily forecasts to be made. For a utilization of up to 140%.

There are already some services for parking space management. What do you see as the USP that motivates companies to use your solution?

Previous ParkApps only offer the rental of parking spaces to third parties. ParkEfficient, on the other hand, concentrates on company-owned parking spaces and employees. The primary aim is to increase employee satisfaction. Additional income can be generated, for example by subletting to employees.Flexibility and efficiency. This makes ParkEfficient unique. We are able to map the needs of our customers in real time and offer an individual solution. In addition to our know-how, we also have a large amount of data at our disposal, which allows us to predict the constantly changing workload. This is particularly interesting for new construction projects – the number of parking spaces to be built is often a critical factor in planning, where investors and cities negotiate against each other. New laws and regulations allow investors to reduce the number of new parking spaces to be built if intelligent parking management solutions are demonstrably used. This is what ParkEfficient offers.

Software solutions are distributed by many companies as license models. Is that the same for you or do you use a different business model?

For the use of our app we usually charge a license fee. This varies, based on the previously collected potentials that our app creates on site and the number of additional features booked.In addition, we offer our customers the option of individual customizing, for which a one-time payment is usually required.We are constantly developing our business model further. In the meantime, in addition to our standard product (the procurement of fixed parking spaces), we offer intelligent solutions for the optimisation of parking areas operated by First-Come-First-Serve. In addition, we are currently developing optimization options for office space utilization.

During your previous answers you briefly addressed your customers: Companies with their own parking spaces. Do you make any further selections within this target group?

We primarily address companies with their own parking spaces. The more parking spaces and locations a company has, the more lucrative the business becomes for both sides. However, this does not mean that we only serve companies with a certain number of parking spaces: our solution also offers profitable solutions for small companies. In cities such as Düsseldorf, Cologne or Dortmund, an externally rented parking space costs up to 390 euros a month, in Zurich even 500 euros. An unused parking space means one thing above all else: loss. This is where we come in and offer companies an intelligent and resource-saving way out. Currently our marketing is aimed at companies in NRW. However, we also want to address cities such as Berlin, Frankfurt, Munich, Zurich and Vienna as soon as possible. Our business model is scalable and can therefore be transferred to any company worldwide.We also support new construction projects that can reduce the number of parking spaces to be built by using ParkEfficient.

ParkEfficient was founded in 2017 and since then surely pushed the development of its products steadily. In terms of agility: Has your strategic direction changed since then, or are you still pursuing your core vision?

The core product was developed in 2018. At that time we invested in the product design, the business plan and the business concept. The core version initially only addressed customers with fixed floor space. In the meantime, that has changed: Features such as e-parking spaces, ParkSecurity (allocation of women’s and guest parking spaces as well as parking spaces for people with disabilities) and in-App payment transactions expand our product portfolio.And the list is getting longer and longer; as is the demand for the ParkEfficient App.With our solutions, we want to make a contribution to society by using existing resources sparingly and efficiently.

Konstantin, that brings us to the end of our interview. Thank you very much for the exciting input! Of course we wish you much success with the further development of ParkEfficient and hope to hear a lot more from you. At this point we would like to draw attention to your Innoloft profile as well as your Innoloft funding and customer requests.