Geocoding allows shipping companies to find the exact addresses they are driving to. It provides companies with the quickest, most efficient route, reducing travel time and errors. This means less time driving, less money on fuel and fewer maintenance costs - particularly important if your business has multiple drivers, and happy customers who get their orders on time.
Calculate mileage costs
By implementing geocoding technology, companies are able to correctly calculate mileage costs for business expense forms in compliance with HMRC regulations.
Use store finder
Another great use for geocoding is within the area of retail. While online shopping is continuing to grow in popularity, many consumers still like to go into a physical store, either to pick up a click and collect item or to see or touch an item before they buy it. To make life easier for customers, retailers can use store finder on their websites to allow shoppers to discover where their nearest store is, simply by adding their postcode or town.
Geocoding is also used by financial businesses such as credit card companies as a way to discover exactly where money is being spent. This can be extremely beneficial as it allows companies to understand whether a card has been stolen and, if so, cancel the card so that no more money can be spent.
Used along with property intelligence, geocoding is an effective tool to have when assessing risk - particularly in insurance. Thanks to its ability to pinpoint a geographic spot, it can help with risk assessments when it comes to extreme weather-related issues (i.e. flooding, earthquake spots, etc), and helps insurers reach clearer decisions about an insurance quote based on this.