New Parking Technology from ABM - Analyst Blog

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ABM Industries Incorporated ( ABM ) recently introduced a slew of innovative parking solutions to augment the parking experience of its clients.

ABM Parking Services, formerly known as Ampco Parking Services, has expertise in serving a variety of clients and addressing their challenges on a regular basis. In addition to the typical cashier and valet services required by office complexes and sporting venues, the company provides a variety of other parking and transportation services to several different industries.

The company has partnered with ParkMe to create a customized mobile application which gives clients access to ABM's parking database to help them provide parking based on location, price, vehicle type, and garage occupancy. With the technological upgrades, ABM has tried to offer clients visual guidance to the floor where the vehicle is parked. Additionally, ABM teamed with QuickPay to introduce pay-by-phone services, which enable drivers to use mobile phones to pay for parking at ABM-operated facilities and also receive text message alerts when their pre-paid time is running out. In addition, it also gives them access to several other related services.

As one of the largest parking operators in the country, one of the main expertises of ABM Parking Services is managing the complex parking operations in the office building and multi-use segment. Also, with the facility of the new website, clients have ready access to the services of parking. Through the website, drivers can easily find parking locations, make reservations, download coupons and sign-up for monthly parking facilities. The financial and technological support enables the company to cater to the requirements of its clients and thereby offer them with innovative services.

Headquartered in San Francisco, Calif, ABM provides engineering, janitorial, parking, and security services to commercial, industrial, institutional, and retail facilities across the U.S. as well as Puerto Rico, British Columbia, and Canada.

The company operates in an intensely competitive landscape that includes big players such as Team Inc ( TISI ) and Global Payments Inc ( GPN ). ABM currently has a Zacks Rank #3 (Hold). One of its competitors, Total System Services Inc ( TSS ) carries a Zacks Rank #2 (Buy).



ABM INDUSTRIES (ABM): Free Stock Analysis Report

GLOBAL PAYMENTS (GPN): Free Stock Analysis Report

TEAM INC (TISI): Free Stock Analysis Report

TOTAL SYS SVC (TSS): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: ABM , GPN , TISI , TSS

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