It is forecast by Richard Foster, a professor at Yale University, that

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1 It is forecast by Richard Foster, a professor at Yale University, that 40 percent of the existing fortune 500 companies on the S&P index of leading U.S. companies will be gone in the next decade with firms going from zero to a billion dollars in the blink of an eye, and seemingly invulnerable titans are disappearing just as fast. The dramatic decline in the lifespan of these companies is apparently rooted in one fundamental cause: their inability to keep up with the rapidly changing technological evolution. Organizations can no longer choose long-term strategies for technological change simply because the tech evolution is expanding so quickly it changes not yearly, not monthly, but, in many cases, daily. Notwithstanding the industry and product potential, companies who continue to defer the inevitable will soon find themselves out of business. In today s Big Data evolution, consumers are king. Businesses are no longer simply selling a service; they are interfacing with social media, interactive websites, and location-based vehicle engines that ultimately secure their future. Those that embrace the progress and understand the system experience an uphill climb on the path to success. Capitalizing on the benefits of technological advancements gives companies the opportunity to adopt tools that maximize their revenue, while those that lapse vanish. The ability to acclimate and ride the next technological wave holds a solid indication to the company s endurance viability in the current marketplace. Cloud Is Key What is the linking factor amid all successful companies today? Embracing the Cloud. The game changer was the introduction of Cloud Data, which made its big break with Amazon web services in Since then, the investment in the idea of storing data in an invisible ether has spread like wildfire. The introduction of the Cloud and Big Data has come about quickly, but with very little notice. Similar to every other industry that had to migrate to the Cloud and adapt Owners are expected to take a proactive approach to customer satisfaction as renters problems quickly escalate to become the owner s and the facility s problems. the enterprise system, the self-storage industry faces similar challenges and must act accordingly to stay relevant as a paradigm shift inevitably comes about. Self-storage owners know all too well the benefits and frustrations that come with running and maintaining their facilities. Some commonly encountered issues include the accessibility of reports, lot maintenance, and expenses. Lot access using pass codes or entry keys can prove difficult in monitoring storage units and traffic. Facility maintenance means more than keeping up the aesthetics; it includes ensuring it s operating in accordance to customer standards as well. Specifically, customers expect storage facilities to provide the highest level of security, convenience, and ease of access. These expectations often lead to costly hardware implementations that fail to provide an added value beyond. 8

2 Anticipating customer needs in this age of rapid technological change is crucial to the survival of businesses. Renters seek a trustworthy facility where they can securely store their valuables. Tracking and monitoring all activity becomes a thing of necessity. Recording all the ins and outs is just the tip of the iceberg. It s not just about storage; it s about self-storage facilities adhering to the global technological shift and the expectations it brings about when taking the big picture into consideration, says Matthew Lazowski, executive vice president of LocoMobi Inc. Owners are expected to take a proactive approach to customer satisfaction as renters problems quickly escalate to become the owner s and the facility s problems. Customers expect a seamless and efficient experience from the point of entry to exit with secure ease of access being a principal element to self-storage facilities. But how does one provide accessibility while maintaining a pertinent level of security? Software Solutions Tackle these concerns with low-cost cloud-based software solutions that offer an innovative approach to these matters. Specialized providers on the market deliver cutting-edge technologies that pre-emptively anticipate problems and provide answers. Cloud integration with hardware products offers customizable solutions for all self-storage facilities. Integrations with existing machines can be accommodated, while those looking to upgrade can choose from a wide selection of hardware solutions. The Cloud Storage system is one of the most intelligent pieces of technology offered today, with a broad spectrum of capabilities that include assigning individual apps to distinct functions. These features can allow for real-time updates on revenue, operational status, and company/customer statistics. The Cloud Portal grants varying levels of access to different levels of management and is highly encoded and encrypted for hack-proof functions that prevent information leakage and fraud, among other things. Property owners can utilize the Cloud Portal app to set up profiles for each and every property to easily manage, review, and update each facility all from a handheld device. Lot access becomes more secure than ever. You can use blacklist functions and restrict entrance rights to customers who have proven problematic in the past. To block unwanted guests, register authorized users and all other vehicles will be barred from entering the facilities. Cloud based Portal often serves as the anchor for all innovative technology solutions. All licence plate recognition (LPR), ticket kiosks, barrier gates, and Bluetooth functions travel to the Cloud, where they are recorded, verified, and authorized in real time. Records include all forms of payment, permits, counts, enforcement/valet/merchants, and alarm notices from all devices. 9

3 ARE YOU ON THE CLOUD? Beyond the robust reporting and analytics components of such systems, live rate management features enable lot managers to modify rate structures based on demand, thus optimizing and maximizing revenue. Likewise, the structures of these systems make them a cost-efficient investment as the app automatically updates and troubleshoots. This makes firmware of this variety a cost saving solution in the long run as the need for added expenses on upgrades is eliminated. Cloud Data engineering also eliminates human error potential, bringing the added value of accountability and precision of data as every action is logged with a date stamp on the backend. With safety accounted for, efforts can be focused on facilitating ease of access to selfstorage renters. Storage facilities that have lagged behind in joining the online evolution operate inefficiently. The use of time consuming methods that require manual input, physical presence, and documentation all exhaust resources and fail to provide needed convenience. State-of-the-art software solutions, such as the Bluetooth GateKit and Licence Plate Recognition (LPR), can work to transform a user s car or mobile device into a ticket for ins and outs. Operational approaches of this kind prevent one from passing along a simple entry code to anyone s use, eliminate the use of plastic permits that break or get misplaced, and void the need for hang tags. These are replaced by a wireless signal that enables a smooth entry and exit experience. This method is entirely eco-friendly as it eliminates waste and eradicates the use of paper and plastic. The Cloud Portal permit validation system gives owners 24/7 access to a snapshot of their facility using any web-enabled device. This allows owners to authorize vehicle access for as little as one day or a month, while giving renters the flexibility of utilizing secondary vehicles should the need arise. Alternatively the portal can be employed to enable users to extend their storage-rentals for long-term periods, extending their storage lockers to terms lasting six months, a year, or longer. Day passes can be made available to renters by accessing a web-based dashboard with their own unique login where they can manage their vehicles on a personal account. User level permissions can be set to limit users to specific facility access points and log all their comings and goings down to the time, date, and vehicle used for the session. This methodology allows self-storage owners to define parameters that regulate their facilities in accordance to individual standards that above all provide flexibility and peace of mind to storage operators Bluetooth Capabilities Extensive R&D initiatives are driving Bluetooth technology capabilities to enable easy access to gated facilities using a mobile device. It is a high-performance, intelligent, functional, wireless form of communication that operates quickly and efficiently for seamless authorized admittance to privately owned facilities. The Bluetooth technology ensures accessibility is suited for easy installation, by phone or by CarKit, and uses a unique ID to track statistics in real time. There are two unique uses for the Bluetooth: the CarKit and the GateKit. The CarKit is a small device installed directly into the user s car. When the car approaches the barrier gate, the CarKit will respond to the Bluetooth mechanism and allow access. Bluetooth is ideal when utilized in its CarKit format. The kit can be installed in company-owned moving trucks or directly onto users personal cars. With the CarKit, customers may rent a moving truck and easily access storage facilities with no fuss and no extra cost. This leading edge technology application opens up a world of possibilities to storage renters and owners alike. Elderly renters and those with disabilities can especially benefit from this component as it entirely eliminates the need for any active participation on their end. The mechanism can also capitalize on renters personal mobile devices by using dedicated mobile applications with custom created personal accounts. Its second use is through the Bluetooth GateKit, which broadcasts a distinct signal that engages the mobile device s Bluetooth. Upon recognition, the gate automatically opens, requiring no action on part of the user or the storage facility. From an owner s perspective, this reduces the need for on-site attendants, thus cutting operational costs. This wireless technology is the definition of a seamless process from A to Z. The uses and applications of this pioneering technology don t end there. Employing a similar approach, renters can take advantage of the Bluetooth component to add an additional level of security to their most valued assets as a practice of theft-prevention. By mounting a Bluetooth module onto a renter s boat, or even a precious jewel, the renters can use their personal custom created account to track these assets based on pre-defined clearance permissions. Should an unauthorized asset attempt exit the facility, the Blutetooth will disable the gate from opening or send an alert to the user s personal mobile device through the application and alert the facility s security division to take quick action. Since login credentials on the application are tied to the renter s account, no one but the renter can have access to this confidential information. In conjunction, a Licence Plate Recognition (LPR) system will capture a still of any licence plate attempting to exit with the asset. This information is recorded onto the Cloud Portal in real time, providing an added layer of security and accountability to the storage facility. Much like LPR, Bluetooth eliminates the necessity for pesky access cards and tickets. The differentiating factor is that Bluetooth is used on the renter s end through CarKit and mobile applications, while LPR is used on the storage operator end. 10

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5 ARE YOU ON THE CLOUD? Details Of Licence Plate Recognition Let s take an in depth look at the LPR s full scope of technical operation to leave no questions unanswered. As a vehicle rolls up to a barrier gate, it passes over a vehicle detection loop or inductive-loop traffic detector. This motion induces eddy currents, which, in turn, send a pulse to the LPR camera, signalling a vehicle has approached. The camera takes up to 20 photos in one second, and then chooses the clearest photos to translate into characters and send off to the cloud system. The cloud system compares the licence plate to those in its limitless data system; if the licence plate is valid, it authorizes entry to the lot. Upon exit, the same method is used to record the user s departure. Thus, the LPR system provides a near seamless interaction between car, camera, and cloud system all within the span of a few seconds. LPR registration will include the customer s name, contact information, vehicle information (including the customer s licence plate number), and payment information, which is PCI/DSS certified and compliant to ensure the safety of your customer s personal data and the protection of your company. Monthly prepaid renters are charged once a month and you are instantly notified if they have not paid their fees. Transient customers can easily pay for limited time use with their licence plate serving as their temporary ticket. LPR systems are easy to install and smoothly integrate with preexisting equipment and technology already in use. No lot attendants are needed, which means you save on paying someone to attend the facility; LPR becomes the lot attendant for you. LPR provides a high-tech, fast-acting service that sends all information detected to the cloud systems in real time. Rest secured and assured with heavily encrypted software and extensive permission levels. Enjoy the convenience of having all your parking statistics and equipment configurations under one portal. Forecast and benchmark parking statistics and equipment configurations are offered by leading companies on the market as an all-in-one portal access. Some LPR systems also offer multilingual capabilities that include Latin, Arabic, Chinese, Korean, and Thai, to name a few. The demand for self-storage will never lose its relevancy, making it a saturated and competitive market. Taking a step towards the unknown is never easy; industry leaders have to embrace the technological shift in order to stay on top. Pioneers that adapt to consumer and market needs will set a new standard of service and operation in the self-storage market. Since the dawn of the millennium, big data and Cloud technology have made significant strides in a spectrum of industries. The spotlight now shines on the self-storage market to evolve with the ever-changing technological landscape. Grant Furlane is the co-founder of LocoMobi, Inc. He has more than 30 years of technology experience specializing in the transportation, network security, and parking industries. 12