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HomeTechnology NewsA Roadmap to Transforming Taxi Industry

A Roadmap to Transforming Taxi Industry

“Put the right people in the right places, and then you trust them to do the right stuff.” This quote by the Uber CEO perfectly applies to Uber’s business model. They have developed a taxi dispatch software where the right customer gets the nearest driver at their location in less than 5 minutes. Meanwhile, the drivers do their job with their hearts, making Uber thrive in this digital era. 

The global market size of taxi dispatch software is expected to reach USD 1224.3 million by 2029, with a CAGR growth of 17.5% from the last year to 2029. This statistic depicts technology will make everything feasible for the taxi dispatch business. We can’t deny that old were the days when it was difficult to travel from one place to another. Then, the evolution happened, and we got vehicles. But, no one thought that another business would take place from another. 

Then, there came the taxi business. Any other company that deserves to go digital, like taxi business owners, was introduced to technology. In the same way, a person sitting in one corner of the world can speedily make friends. In the same way, now it was super feasible to call a taxi service instantly. Just one tap and your taxi is at your place. This evolution requires an in-depth understanding of how taxi businesses can go digital. Going ahead, you will ride through the benefits and features, but before that, let’s learn a few facts. 

The amazing results of other taxi dispatch software, such as CityX Taxi Service, got a 30% increase in their 

daily bookings. The real-time tracking and automation of dispatch reduced passenger complaints and improved response time. Meanwhile, after implementing the cloud-based system, MetroCabs noticed a reduction of 15% in their operational cost, as their system’s data analytics help optimize driver schedules and identify underperforming routes. 

However, the most common challenge amongst taxi dispatch businesses was booking management. People often need to catch up, and in all this chaos, making calls to book a cab service becomes difficult. Moreover, the customers don’t like waiting for too long. Instant service is the new key to improved customer service. However, using technology and automating booking tasks such as instant price, date availability, taxi arrival time, and expected reaching time makes both customers’ and taxi drivers’ lives easy. The taxi industry needs to go digital. But, after uber, many other startups are choosing Taxi cab dispatch software. Before stepping in, let’s walk through the benefits of going digital for taxi businesses. 

Why Ride the Technological Wave?

Cloud-based solutions help centralize data and amount processes and offer real-time connectivity between drivers, passengers, and dispatches. The transition that a taxi business will get after choosing technology comes with amazing benefits:

  1. Efficiency – The cloud-based dispatch systems walk around the automation. The bookings, calculations, driver assignments, and trip confirmations are all done via automation. This automation further reduces errors, the requirement for less workforce, and the streamlining of complex tasks. 
  2. Tracking & Dispatch – All the cloud-bassed systems work around real-time tracking of the vehicles. The nearest taxi drivers are assigned the customer’s location. This feature reduces waiting times, optimizes drivers’ routes, and enhances customer satisfaction. 
  3. Fleet Optimization and Management – Taxi businesses can efficiently optimize and manage their fleets using cloud-based solutions. Monitoring driver performance, fuel efficiency, and vehicle maintenance schedules becomes easy. This approach results in better decision-making and cost reduction. 
  4. Customer-Friendly – The cloud-based systems make it easy for customers to request a trip with just a few taps. This app offers transparency, convenience, and features like fare estimates and estimated arrival time. 
  5. Secured Trips – SOS buttons are one feature that comes with cloud-based systems. There are other features like trip tracking and driver identification. These features give assurance to the customers of a safe trip. 
  6. Chat Feature – Enabling a chat feature between the driver and customer helps improve the entire experience and working of the taxi dispatch service. If a driver is stuck in traffic, then an instant notification can go on a customer’s app. This ultimately results in improving customer experience. 
  7. Pre-Booking System – Customers can schedule their next morning trip in advance to avoid delays. This will help the admin to distribute rides amongst the taxi drivers. Moreover, it gives full access and view to taxi bookings. 
  8. Payment options – People nowadays don’t carry hard cash. They prefer online payments, which make it feasible for passengers and drivers to save time. The admin also gets control over the commission rates. 
  9. Notifications & Alerts – Most of the time, drivers are too busy and can’t operate the taxi driving app. With instant alerts and notifications, the drivers keep getting updates in their app for upcoming rides. 
  10. Analytical Data – The admin keeps getting various data such as payment methods, customer data, driver data, rides taken, customer behavior, payment patterns, fraud detection, fleet utilization, driver performance, etc. 

Looking at the benefits like flexibility in cashless payments, booking, & mobile applications sets the way for a revolution in the taxi industry. You need to understand the possible weaknesses and the benefits of cloud-based taxi dispatch software

 

In the Near Future!

Online cab services are a trend, and they will make profits. That is why many SMEs have started working on their applications, opening new doors for many other businesses. One of the driving factors that is making this industry progressive is Customer Mapping. Through this feature, a driver gets an estimate of how far the driver needs to go to the pickup location. The simplified way of booking cabs is influencing customers to book cabs. However, a taxi business that is required to develop its application will experience huge losses. The reason is simple: booking a taxi is now simplified. It is now as easy as tapping on Instagram posts. It is expected that North America will have a majority of taxi dispatch apps.