Reporting of accidents or incidents involving your transit fleet is a component of SMS under Federal PTASP regulations. Typically, incident information is collected in a static form--the information is then transcribed into other systems, and location information is not readily available. Using Survey123, Esri gives you the ability to collect incident information in a smart-form application. Because the information you collect is geographically enabled, you can monitor incident information in a dashboard and do advanced spatial analysis to find trends in your data.
[Edit: The incident reporting application is now part of the comprehensive Transit Safety Management Solution (SMS). To learn about the Safety Management Solution, visit: https://community.esri.com/community/arcgis-for-public-transit/blog/2020/04/20/transit-safety-manage...]