Let’s understand the Key differences between Ride Hailing and Ride Sharing:

All over the world, the population is increasing which has led to an increase in production of more vehicles on the road to meet the travel needs of all. However, there are new transportation network companies who provide services to reduce the number of cars on the road.

What are Transportation Network Companies?

Transportation Network Companies are trying to become the future of public transportation. As of now, a bus, taxi, auto-rickshaw, train, or even an airplane are usual modes of public transportation. Transportation network companies provide a peer-to-peer (or consumer to consumer) transportation network, where everyday people provide rides to other people with the hope that it will reduce the number of cars on the road. Imagine a family of five individuals and if all of them have to travel in different directions, then they would each need to have a car. When it comes to transportation network companies, you can hire a car to meet your requirement.

Transportation Network Companies provide two services mainly:

Ride- Hailing:

Suppose you want to go for an interview and you need to get there in 30 minutes. You hire a driver and a car. When you opt for ride hailing service, the ride is only for you. Your rider will not stop to pick up other passengers nor will they be provided an option to book your ride. In the past you might call a taxi cab from home or waive a taxi on the road. Now you can book a ride from your app and a vehicle will arrive to pick you up.

Ride- Sharing:

Now, let’s say you are traveling to central park and you are in no particular hurry, as per the ride sharing service, other riders can share your ride since they are travelling to the same destination or in the same direction. It’s similar to carpooling but not a regular pool.

Transportation Network Companies provide both of these services and ensure you reach your destination on time. Ride sharing is the more eco-friendly way to travel, though the excess number of TNC vehicles on the road are neutralizing the gains.

The alarming rise of ride hailing:

All of us like our private space and only on very few occasions, we choose to opt for ride sharing. Most of the time, we choose to hail a ride. This eliminates the benefits of opting for Transportation network companies. Studies show that, only 20% of the personal car trips are replaced by ride hailing and another 20% has replaced the traditional taxi services. Aside from this, there is another 60% who have replaced the transit users, the bikers and the people who walk. Choosing Ride hailing over ride sharing services increases pollution and causes greater environmental concerns.

As for agencies that provide public transit services and paratransit services, it gets more difficult when they are being opted for ride hailing rather than ride sharing services. Transit Agencies are functioning on strict budgets, low staffing are seeing a huge spike in operational costs. Aside from financial challenges, transit companies need to face unique situations like responding to fixed doctor’s appointments and people unable to enter the vehicle.

How QRyde is transforming agencies from ride-hailing to ride-sharing providers?

In order to reduce operational costs, decrease our carbon footprint and offer excellent customer services to our riders, we need to operate on Ride Sharing service.

Why Ride Sharing?

QRyde transportation software ensures these rides are shared among people traveling in the same direction. This will reduce fuel costs, staffing and even improve the quality of the service. The AI algorithm of QRyde Scheduling software allows the agencies to understand the best routes, practical difficulties and passenger location through one software and helps us to optimize rides accordingly.

70% of all rides are known at least 24 hours in advance, 90% of all non-emergency medical appointments are known 24 hours in advance. 50% of an individuals rides are recurring (education, employment or medical). With this much of advance notice, the software should have the ability to better plan and better group rides for maximum efficiency.

We are in the 21st century and it’s time to upgrade. Scheduling and dispatching software reduces the number of complaints from the users, ensures the passengers are picked up on time and also increases the on-time performance. Apps like Uber and Link transit have upgraded their software to heighten user experience and try to keep the environment from being exploited. The future of the transportation ecosystem is deemed to lie in the hands of ride sharing and ride hailing.