ParkCloud has sealed a technology deal with SAP, which will see its solution being integrated with SAP Vehicles Network running on SAP HANA Cloud Platform in order to enable drivers to reserve parking, and manage park reservation systems and parking inventory in Europe.

The deal will open opportunities for parking operators of ParkCloud to generate new revenue streams whilst providing satisfactory vehicle-centric experience to drivers.

"Working in collaboration with SAP is a significant milestone for us."

ParkCloud offers 340,000 bookable parking spaces in 1,250 car parks across 414 locations worldwide.

It was also selected to provide SAP Vehicles Network with a wide range of parking inventory.

ParkCloud managing director Mark Pegler said: "Working in collaboration with SAP is a significant milestone for us, and demonstrates our commitment to working with the parking industry to deploy innovative, cutting-edge technology."

The cloud-based SAP Vehicles Network assists enterprise companies to offer easy and secure end-to-end vehicle and mobility-centric services to all devices and vehicles.

The network will help drivers in North America and Europe experience connected fuelling and parking services through a mobile wallet or app.

Drivers can also activate gas pumps, pay at the pump, reserve parking space, open off-street parking gates and pay for on-street parking.

SAP SVP IoT and customer innovation, general manager for connected vehicles Gil Perez said: "ParkCloud’s solution fits with SAP Vehicles Network aims and objectives in simplifying parking access and mobility services for drivers across Europe and globally."