The managing of billing and finances through software is as important to
transit agencies as other facets of the operation. Paratransit service providers are especially in-need
of a financial system that can accurately and reliably maintain trip data.
Often more-so than other types of transportation providers, paratransit operators are committed to provide detailed and accurate trip data—including pickup time and location, driver actions, and rider billing information—and do so while systematically analyzing trip data to verify compliance to contractual performance requirements and flagging of non-compliant trips
In many business scenarios, operating multiple and mixed fleets is the only reliable means to meet project commitments while remaining within budget and costing constraints. Though using contracted vehicles and taxis to perform some trips improves overall efficiency and customer service, this makes maintaining, analyzing, and reporting this data significantly more difficult as the complexity of billing and financial monitoring grows exponentially as the number of fleets and depot sites—possibly each with differing billing rates—increase. This complexity compounds further if the operator is getting paid per hour while paying contracted vehicles per mile. To manage these concerns, operators require highly intelligent analytic tools to stay in business.
5M’s Analytics and Finance Module is built for—and currently serves—some of the most complex operational environments, allowing even the largest paratransit operations to provide service from multiple sites—each utilizing multiple fleet types—for a substantial portion of their trip load. The Analytics and Finance Module can track, analyze, and generate reports that on the cost side, account for employee drivers with pre-and-post run inspection and service times,
scheduled lunch breaks, overtime payments; all the while tracking—in stark contrast—the operator’s non-dedicated and contract (taxi) drivers, who are paid by trip miles. On the revenue side, 5M enables agencies to report an entire trip load with all tracked performance parameters to be submitted to a transit agency for compliance auditing.