LOS ANGELES, Aug. 6, 2020 /PRNewswire/ -- HONK Technologies, the platform connecting drivers and towing professionals, today detailed key metrics that demonstrate its growth and momentum during the first six months of 2020, despite the challenging economic conditions created by COVID-19. While the pandemic has caused many companies to shrink or even declare bankruptcy, HONK's continued pursuit of technology innovation and operational efficiency combined with strong demand for its service has enabled it to successfully navigate through this unprecedented time well while continuing to invest in future growth.
HONK's investments in machine learning and automation have enabled the company to expand its operational efficiency. The number of fully touchless interactions — from the time an order is placed until the time that the service provider has been paid — increased by 54% in the first half of 2020. HONK was also able to decrease the median time it takes to pay its tow providers after rendering services by 27% to just 14 minutes. Many competing providers take weeks to pay their tow partners.
HONK has also increased headcount in operations by more than 20% in the last sixty days to support growth and demand. Additionally, HONK plans to further increase headcount in the coming months through hires that will be fully remote.
HONK has accomplished all of this while maintaining its Net Promoter Score (NPS) between 88 and 92. NPS is a measure of how willing customers are to recommend a company's service to others. The high NPS ratings confirms that the HONK customer experience fosters elements of value for its clients, resulting in happier customers that stay longer, buy more of their products and provide more referrals. The company has continued to increase market share by serving as the roadside assistance provider to insurance carriers, helping them leverage technology to quickly attend to claims, maximizing customer engagement, service and retention.
"We've invested heavily in machine learning and automation at HONK not only so we can operate more efficiently, but also so we can provide higher quality, faster roadside assistance to motorists and to the customers of our insurance partners," said Corey Brundage, CEO and Founder at HONK. "2020 has been a challenging year. But I'm pleased to say that our technology investments and our dogged commitment to providing the best possible roadside assistance experience is paying off in a big way, enabling us to grow in what is likely the worst economy in many decades."
About HONK Technologies
HONK's mission is to ensure that vehicle-related problems don't interfere with the things that matter most: getting motorists back on the road and to their final destinations, quickly and safely. HONK connects motorists in need with high-quality towing service professionals through its unique platform that combines both advanced technology and expert human assistance. With the largest GPS-enabled network of service vehicles in the U.S. and Canada, HONK brings fast, accessible, transparent roadside assistance to individuals, automobile manufacturers, insurance carriers and fleets, cutting wait times by over 50%, providing live tracking maps with real-time service progress, and dramatically improving customer satisfaction and NPS. HONK Technologies, Inc. is headquartered in Los Angeles, CA with operations throughout North America. To learn more, visit https://www.honkforhelp.com
SOURCE HONK Technologies