Works for Business™

“My business doesn’t need
the internet. It’s a bookstore.”

– Anonymous, 1994

Don’t miss out on the
next tech revolution.

We can help you prepare
for 5G-enabled IoT.

Akiva Armon, Founder

Akiva Armon, Founder

Revolutionizing Real-Time Parking Management  

Akiva Armon, Founder & CEO, Wisesight

Revolutionizing Real-Time Parking Management

Let’s admit it. Most of us living in cities face parking issues almost every other day. Be it a busy street or a mall or at a supermarket, there’s always that precious time consumed searching for a parking spot. In fact, a survey says that 70 percent of the drivers in cities note that parking is a key component in their choice of travel destination.

Now imagine a company that can undo the parking problems using smart solutions. Yes, you heard it right! Wisesight, an Israeli-based firm, has come up with an intelligent parking technology for real-time automatic parking management. This technology, not only enables proper and efficient management of parking spots but, also ensures proper statistical analysis and increases revenues using automatic and efficient payments.

Wisesight Founder and CEO, Akiva Armon says, it was the frustration of not finding parking regularly that ignited this idea. “Basically, it all began from a personal experience of not able to find a parking spot and eventually, rooted in a desire to harvest the technology to offer an advanced solution to it.”

Adds this technology enthusiast that from a market point of view, the parking mechanism hasn’t undergone any change since the early ’50s. “We have noticed that cities, malls, amusement parks, etc, lack information about their parking resources and their decisions are not data-driven. “In the absence of this, taking simple decisions becomes difficult and eventually they miss out on opportunities to increase the inflow of a number of visitors. We offer a way to maximize the value for customers and society, by offering a unique business model, that gives value not only to the paying customer but also to other drivers and to the entire ecosystem,” he adds.

The Technology 

The Wisesight algorithm identifies each vehicle entering the parking lot through a camera and records the license plate number, associating it with an ID number. The ID number remains assigned to that specific car as it moves to the next camera. As soon as the vehicle enters a parking area, the system recognizes it and activates the counter.

“According to data, one-third of all traffic in the city is caused by drivers themselves, who are looking for parking spaces. Our system provides a solution utilizing the current parking spaces and by that help reduce the number of cars on the road,” Akiva notes.

Noting that a successful implementation of their technology will revolutionize the parking system, Akiva observes that municipalities as well as drivers, once exposed to the solution, will quickly understand the benefits of the technology and adapt the same.

A prolific leader

Reminiscing about the past, Akiva says that he developed electro-optical systems for IAI (Israel Aerospace Industry) in his previous work assignment. “I led a team of some 70 engineers in a very high-end, high level of security projects, for the Israeli defense industry. This provided me with a vast set of managerial capabilities, with a can-do approach, imbibed within me.”

The Success Mantra

Akiva’s vast knowledge in complex technological systems coupled with consistency to persuade his goals has remained his biggest asset as a professional. “We believe that a business plan would succeed if you preserve two important aspects: Persistence and Consistency. When you stay committed to your business goals and follow them thoroughly, it reflects on everything you do and that leads to success.” “A successful entrepreneur is an outcome of passion for success and not by the fear of failure. It is normal to have concerns, so whenever a doubt rises, I recommend going back to the reasons that pushed you to establish your startup. At Wisesight, our vision is to focus on creating value for our stakeholders, employees, citizens, drivers and even the environment by decreasing the traffic jams. Thinking always about creating something good to the world, Akiva notes.

Akiva Armon, Founder

Company: Wisesight

Website: www.wise-sight.com

Management: Akiva Armon, Founder, CEO

Founded Year: 2016

Headquarters: Jerusalem, Israel

Description: Wisesight has developed an intelligent parking technology that allows automatic real time monitoring of street parking and significantly boosts municipal parking revenue by automating payment.

Sharing is caring!