Integration of technology is the need of the hour as it makes life simple regardless of the industry. Ever since the emergence of technology, businesses across the industries have been shaped differently and have been accommodative to integrate technology into their business process. The travel industry is no different either, with the competition rising steadily car rental business enterprises are looking to capture the market and are resorting to technology in the process.
Online booking application is one of the most in-demand technology advancement that has disrupted the travel industry. The primary reasons for the increasing demand for online booking apps are convenience and ease of access. On the other hand, car rental business enterprises are aiming to expand their market by widening their customer reach and increasing their profit margin.
As car rental business enterprises, if the booking process is lengthy and cumbersome, they are bound to lose their customers and thereby their hold on the market. With the growing demand for car rental services, technologically proficient online booking applications are becoming all the more imperative.
Why is Online Booking App All-Imperative?
- Easy Booking – There was a time when people used to queue up at booking counters. Later, online booking apps were introduced that were in a nascent state and now these online booking apps have become a norm as they are easy and quick to use. Booking is the first step toward using a car rental service; therefore, it needs to be user-friendly and convenient.
- Convenient Payment – Payment was considered as one of the most cumbersome tasks since cash payments involved a lot of risk elements such as the integrity of the bill, unavailability of change, non-acceptance of certain denominations, etc. However, with an online booking app, payments are hassle-free since multiple payment options are available including but not limited to bank transfer.
- Efficient Fleet Management – A greater number of car rental business enterprises means a greater number of cars, which results in a greater need for proper fleet management. However, online booking apps have made fleet management easier than before. Analytics along with real-time GPS tracking has allowed for efficient fleet management.
- Data Organization – Collating data is a tedious and laborious task. Larger the fleet, more data points to collect, organize, analyze, and store, which makes it even more difficult to organize the data. Data organization is made easy, fast, and efficient with the help of technology.
- Customer Support – This one was particularly difficult when manually done. Imagine the effort and time that goes into collating information about every single ride of each and every customer to extend customer support and resolve customer feedback. With the tech-enabled platform, customer support is now a breeze. With an immediate response to customer queries car rental business enterprises are able to provide quick customer support and optimum customer experience.
These are some of the key reasons along with many others of why online booking apps are becoming all imperative for car rental companies. These tenets help us understand that the online booking app is not just for availing a car rental service, but it has a host of other important features making it all-imperative for car rental companies.
How Can Car Rental Companies Benefit from Online Booking App?
- Greater Reach of Audience – When everybody can have access to the online booking app of a particular car rental business, that company can have a greater reach of the audience. With an online booking app, you are essentially taking your car rental business to the mobile device of your target audience.
- More Business Lead – The data analytics provided by the online booking app helps generate more business lead. Business leads are great for the growth of the car rental business as they can be converted into clients.
- Instant Payment – Both car and platform owners can now enjoy quick receipt of payment. This is one of the best benefits of an online booking app since payments were always considered to be troubled waters. Not just instant payment but managing the payments is also now easy with the integration of technology.
- Ease of Business Management – Running a car rental business is an arduous task as it is and with the market demanding so much from the car rental business enterprises, it is even more difficult to keep up with it. However, online booking apps make it easy to manage the business.
There is a lot at stake in the car rental market and car rental business enterprises must do what it takes to capitalize the opportunities it provides. Online booking app is a key component that can either make or break a car rental business, which is why car rental business enterprises must make it their priority to have a robust online booking app. RentCar can help you capitalize on the growing trend by developing a robust and proficient online booking app. Partner with us now and enjoy the full benefits of the best online booking app possible for your car rental business.
Car rental business is an essential service across the globe and its demand is ever-increasing. Even during the pandemic, car rental services were allowed to operate in a limited manner as it was the go-to service for all transportation requirements. With the car rental business growing and evolving continuously and consistently, unswerving car rental software is imperative to all car rental businesses.
The car rental businesses that use robust car rental software have conveniently improved their business growth. The use of car rental software has not only helped grow the business but also made the business process conveniently efficient and delightfully frugal. This gro wth factor can be owed to the car rental software’s benefits that outweigh the implementation process and cost. We have mentioned a few ways of how car rental software can help the car rental business provide better services to their riders.
- Ease of Operation – this is, perhaps, the most important benefit a car rental software should provide and rightly so, it does. A well-developed car rental software can provide the utmost ease of operation to the riders first and the business enterprise. The interface of the car rental software is designed to provide the best and simple operation for the rider so that they can avail of any services provided by the car rental business with a few simple steps. Ease of operation to the riders will help them save time and effort and is less confusing to avail the rental services.
- Transparency – it is a fundamental aspect of any business organization, let alone a car rental business. Transparency boosts the confidence of the riders to use your services more often and become loyal patron of your car rental business. A car rental software can provide a great level of transparency and at the same time protect you and your business from all sorts of misuse or abuse. The riders have access to the drive profile and ratings, ride costs and other convenience charges if applicable, booking and cancellation policies, refund and other customer beneficial aspects.
- Optimized Productivity – a car rental software is not only for booking purposes but also for a host of other functions such as ride management, GPS tracking and live location feed, push notifications of valued-added services, discounts and other offers, etc. These functions of a comprehensive car rental software directly result in optimized productivity of the rider as well as the car rental business. Both the rider and the business entrepreneur can be mutually benefited from optimized productivity.
- Automation – can you imagine managing every ride manually? The human resource needed to manage each and every ride in itself will take the bulk of the business management, incurring a huge loss of money, time, effort, and business resources. A robust car rental software will help automate most of your business processes, which is efficient, fast, responsive, and intuitive. Automation will not only help eliminate the need for human intervention but also deliver resolute services to each customer, every single time.
- Easy Comprehensive Payment Options – the number of people who pay by cash is decreasing since virtual payment modes are fast, secure, and convenient. Since the introduction of virtual payments, there are more number of payment gateways, applications, and options than one could perceive. Each person has a preference for a particular payment gateway or application and car rental software comes equipped with all sorts of payment options. Billing is now easy, safe, and quick.
In addition to these, there are other functions and intricacies of a car rental software that make rider experience more interesting and compelling to increasingly use the software and avail your car rental business. RentCar is a reliable on-demand car rental software company that can provide your car rental business with the drive to grow beyond borders. RentCar’s car rental clone script is one the best in the market, providing a highly proficient car rental software that is proved to be a workhorse of an application.
The year 2020 was underwhelming to most across the world as the global pandemic of COVID-19 caused brutal distress to all if not most people, families, industries, organizations, etc. It has been a year since the pandemic swooped upon our world and enforced certain worldwide changes and phenomena. Although things seem to be normalizing, the aftermath has been so severe that a lot of business enterprises and organizations across all industries have either shut down permanently or are struggling to revive.
For the car rental industry, it was a double whammy of the pandemic and a precarious economy, shuddering the car rental business enterprises down to their roots. Every player, whether independent or conglomerate, in the car rental industry, took a massive hit of various types. According to recent studies, the revenue of the car rental industry dropped by more than 27% amounting to slightly more than 23 billion USD in 2020, which is the lowest in a decade.
Despite the predictions of recovery in 2021, continuing on the same trend, car rental business enterprises are facing several challenges due to a variety of reasons even in 2021. What are the challenges faced by car rental business enterprises and industry? And Why?
Car Rental Challenges in 2021
Change in Market – Car rental businesses cashed in on airport rides, which at times made up 95% of their earnings. The cash flow was the extent that new terminals were built just to make the most of the lush and lavish market. However, when international and, to an extent, domestic flights were canceled to mitigate the widespread of COVID-19, the entire car rental industry came to a screeching halt, to say the least. Now, the industry is continuing to struggle as they are unable or finding it difficult to change their market strategy.
More User-Friendly – In compliance with the COVID-19 protocol, car rental business enterprises have to be more user-friendly. This should first reflect in the car rental software, which makes for a great impression for the riders. Now that ride-sharing is becoming more common and user-friendly, it is preferred by the riders over car rental services. Therefore, it is very important for car rental business owners to look for ways to make their business more user-friendly. This is proving to a challenge for car rental business owners to do so, since it requires groundwork, revamping of their car rental software, improving their overall quality, extra safety measures, etc., all in compliance with the health regulations that are set to mitigate the spread of COVID-19.
Fleet Management – The service end of the car rental business has taken a severe hit more than the sales end of vehicles. Therefore, to generate some sort of revenue car rental business owners have decided to sell parts of their fleet, rather than for those vehicles to sit and collect dust. This in turn has made fleet management more difficult and elusive for the users, drivers, as well as car rental business owners. The number of such transactions has amounted to an estimate of over 41 million units in the past year, which is dramatically high. As a ripple effect, car rental business enterprises have found it difficult to provide quality car rental service and manage their business with a small fleet.
Customer Service – Customer service is a vital aspect of a car rental business regardless of the state of the economy, political drift, or even a global pandemic. In addition, customers have never lowered their expectations-bar, making it even more difficult for the car rental service providers to provide good customer service, especially during these difficult times.
While continuous efforts are being taken to sustain, improve, and revive the car rental business sector, these kinds of resources can help the car rental business owners to have a better understanding of the current market, modify their business strategy, reinvent the car rental business sector, and revive their businesses back to life. RentCar can help your car rental business with insightful business strategies and resources, state-of-the-art car rental software, and much more. Our expert team is equipped to help revive your car rental business during these difficult times; so, partner with us and become a revenue-generating business.