XRCE wins Innovation award for Pricing Engine for Parking - June 3rd
The 2014 International Parking Institute Award for Excellence was given to the Xerox Innovation Group for its dynamic pricing engine deployed in the Los Angeles Express Park system.
The pricing engine was developed by Xerox Research Centre Europe. The team designed and implemented demand based smart pricing algorithms based on study patterns in data obtained from on-street sensors and developed methods to communicate the changes in rates.
As a result, average occupancy in congested areas in LA has decreased by 15%.
The award was given in the category “Innovation in a Parking Program/Operation & Excellence in Sustainability Relating to Existing Facilities” at the annual IPI Conference & Expo in Dallas June 1- 3, the world's largest educational and networking event for parking and transportation professionals.
The pricing engine was recently joint winner of the International transport Forum Promising Innovation in Transport Award.
More info on the IPI award
More info on the XRCE dynamic pricing engine.