You know you need to update your parking management technology as part of a plan to enhance the driver experience, optimize operations, and, ultimately, boost revenue. However, finding the right technology vendor is often more difficult than anticipated. The path from initial discovery meetings to implementation can be an overly complicated process with false starts, budget and time overages, and disappointing results. 

There are ways to make the entire journey faster and reduce complications along the way —  it starts with writing a great request for proposal (RFP). Our expert team compiled a cheat sheet to guide you through it. Here are the top 9 questions to ask in an RFP for parking management technology to ensure the best solution for long-term success. 

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1. What are the Biggest Challenges and Desired Outcomes?

Create a detailed list of the challenges you currently face with your current parking system. The more specific, the better. Be sure to include issues that impact all areas of the business, including revenue generation, maintenance and operations, and customer experience. In addition, be clear about your goals for the project and communicate what you think success looks like in the short and long term. This context allows vendors to propose solutions that address your relevant pain points, budgetary constraints, and technology preferences in a way that maximizes the positive outcomes of facility enhancements. 

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2. Who are the Key Stakeholders?

Which departments and representatives need to be involved in the RFP process for parking management technology? Engaging key stakeholders from IT, operations, finance, and other relevant areas early in the RFP development ensures that all needs are addressed and the RFP reflects your organization's comprehensive requirements. This is also the most effective way to prevent surprise objections midway through the process. Detail-oriented vendors will propose relevant collaboration with property teams (and others) to ensure nothing gets overlooked.

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3. Is Our RFP Document Comprehensive?

Ensure your RFP includes all necessary details, covering these key sections:

• Project Overview: Summarize the project, including goals and expected outcomes.
• Scope of Work: Describe the size of the project and deliverables required from the vendor.
• Technical Requirements: Detail the technical specifications and functionalities needed.
• Evaluation Criteria: Clearly outline how proposals will be evaluated, including any scoring matrix.
• Budget: State budget guidelines to ensure that vendors who do respond can put together a realistic project proposal that takes the budget and scope of work into consideration. 
• Submission Guidelines: Provide instructions on how and when vendors should submit their proposals.
• Timeline: Include critical dates for submissions, evaluations, and selection.

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4. What are the Hardware Devices & Tech Requirements?

Do you currently have hardware that you want to supplement, or are you seeking a complete overhaul of technology and hardware? Detailing this step is crucial to receive responses that are in line with your expectations and operational needs. Be sure to include everything from credit card readers and license plate recognition technology to entry and exit devices designed to facilitate digital (paper-free) parking. 

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5. Are all Functionality Requirements Included?‍

When you detail the minimum functionality requirements in the RFP, be sure you've considered user patterns and how they impact operations or property-specific limitations. Have you included everything to assist with monthly parking, billing, carpooling, and nesting? 

Remember to ask questions, too. There may be new functionality available that you aren't even aware of. Ask about the latest updates to parking management technology, such as automation, real-time reporting, or third-party app integration, that will enhance your operations and the user experience.

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6. Have We Defined Reporting Needs?

We've seen this step omitted in many RFPs, but here's why including this information is so important. While the technical and functionality requirements are critical for smooth operations, quickly accessing data generated from your smart parking assets informs better decision-making to maximize NOI.

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For example, do you need reports that will help you optimize utilization or create shared parking options, drive marketing campaigns, and attract new or repeat customers, or are you in need of data that will enable better strategies for pass programs? Be sure to detail this list in the RFP. In addition, you'll want to understand if these specific time-based reports (such as weekly or monthly) or if you'll be able to access real-time reports. While most technology provides basic monthly overviews, you'll want to dig deeper to understand which offers the reporting that impacts your business.

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7. What is our preference for Warranty, Service, and Support?

Be sure to detail your minimum requirements for post-deployment support. This is also an important factor in assessing the total cost of ownership for any parking management platform. For example, you'll want to understand the guaranteed uptime of technology, the fine print for service costs and warranty, and the inclusion of preventative maintenance and on-the-spot driver support. 

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8. Have We Determined a Structured Evaluation Process?

Is there a scoring matrix to objectively evaluate proposals? Criteria might include cost, technical capabilities, vendor experience, and alignment with project goals. For example, how will you evaluate vendors beyond their technical offerings for areas such as the ability to deliver on time and their overall reliability? Checking references and case studies can provide insights into their past performance and potential fit, but are their additional bid requirements? If so, be sure to include that in the Selection Criteria section of the RFP. 

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9. Are We Considering the Total Cost of Ownership (TCO)?

Look beyond initial implementation costs. For accurate TCO projections, evaluate ongoing expenses such as maintenance, support, and potential upgrades. Understanding the total cost of ownership helps in making a more informed decision and ensures the solution is sustainable long-term. While some parking solutions may appear cost-effective on the surface, high maintenance or consistent upgrade expenses quickly add up over the long term. In addition, ask about technology scalability and integrations to understand if this investment will still be the best choice for your operations if you deploy additional site-wide property technology in the future. 

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Want to learn if Vend is the right parking management technology for your property? Contact us for a demo. 

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