The High Cost of Low Accuracy

With License Plate Recognition (commonly referred to as LPR) being one of the fastest growing technologies today, how it works and why the LPR camera you are purchasing matters. There are many super low cost (and correspondingly low accuracy) LPR solutions saturating the market. TagMaster NA offers a proven, reliable and high-accuracy LPR camera that offers the lowest total cost of ownership, easiest installation, and in revenue based applications maximizes profits and compliance for the facility. In this sea of solutions, ensuring you are fishing for (and catching) the right LPR solution will ensure a high return on investment and a future-ready and cost effective technology solution for years to come.

The high cost of low accuracy for  LPR solution can have several implications and consequences, some of the potential impacts include:

1. Missed revenue – In applications such as parking facilities, associated enforcement and revenue capture, a low accuracy LPR system that fails to identify or misread plates will result in lost revenue and increased time to assess and manually audit the missing percentage of captured vehicles. Incorrect billing and ineffective enforcement can lead to a much higher overall cost for the facility to implement a solution using LPR.
2. Security Risks – LPR systems are often used for security, and authorization purposes such as to restrict areas or monitor vehicle traffic and capture the data. A low accuracy system will allow unauthorized vehicles to gain entry or fail to identify the vehicles resulting in higher security risks and lack of oversight for management to be able to ensure compliance with the facility operations.
3. Operational Inefficiency – Low accuracy LPR leads to operational inefficiencies. For example: in parking facilities, if the LPR system fails to accurately detect entry or exit times it results in inaccurate data for calculating parking durations, availability and rates. This leads to either overbooking or underutilization of the parking space. A high accuracy LPR system ensures the maximized efficiency and is the easiest way for management and operators to review, manage and bill data accurately.
4. Increased Labor Costs – When an LPR system has low accuracy, human intervention will be required to manually verify and correct the inaccuracies. This leads to a significant increase in labor costs and may even require additional personnel to review and validate the systems results.
5. Customer Dissatisfaction – In scenarios where LPR is used for customer-facing applications like ticketless entry or payment systems, low accuracy results in frustration and inconvenience for the actual users. Incorrectly identified plates or failed transactions can damage the reputation of the service provider and ultimately reduce the potential revenue capture.
6. Legal Consequences – Inaccurate LPR will cause more misreads and missed license plates and if a system misreads a plate and issues a ticket or fine to an innocent party it can result in disputes, legal challenges and potentially harm the relationship between the system provider and the public users.

Overall, the high cost of low accuracy for a license plate recognition solution can encompass: financial losses, compromised security, operational inefficiencies and increased labor requirements, customer dissatisfaction and potential legal repercussions. Therefore, investing in a dependable and accurate LPR system like TMNA is crucial to avoid these negative consequences.   Can you afford not to use a high-accuracy and proven LPR system?