by Rentcubo | Jan 31, 2022 | Equipment Rental Software
Equipment rental software can be used to optimize procedures, coordinate operations, manage assets, and calculate depreciation for businesses. This software suite also allows you to assign equipment to employees, schedule maintenance, and perform back-office activities such as accounting and accountancy.
When it comes to managing operations, many companies find it challenging to keep track of their equipment. The scenario grows considerably worse when a piece of equipment is carried from one job site to another or multiple additional job sites. It can take a long time to figure out which assets are allotted to your staff.
We provide organizations with a solid asset management solution that is modern, simple, and customizable to their needs at RentTools. Our equipment rental software is a back-office solution for tracking and managing valuable assets for business owners, CFOs, bookkeepers, and accountants. RentTools presents the benefits and features of equipment rental software and how to select the finest equipment rental software for your company in this unique blog.
Benefits of Equipment Rental Software
You’ll be in charge of asset inventory, location, people, service, and maintenance for an equipment operator. Whether you need fleet management or only want to maintain construction equipment, you can utilize an all-in-one software solution to streamline your operations. Our rental software helps you manage your equipment by keeping track of key information like asset upkeep, invoicing, and certificates.
With equipment rental software, you can reduce equipment downtime in a variety of ways. Our rental software system’s maintenance management capabilities may track metrics including overall utilization, depreciation, repair plans, and maintenance dates.
These maintenance records are used to determine whether predictive or preventative maintenance is necessary. Predictive maintenance can be done while the unit is running to identify and address any issues. Meanwhile, preventative maintenance is carried out on the equipment on a regular basis to prevent problems from arising.
A unified software solution enhances openness and insight in your business by delivering a consolidated data picture of your assets. This transparency allows you to anticipate demands in your firm and improves team collaboration. In rental operations, for example, the finance department requires visibility into how assets are performing and depreciating over time.
To minimize downtime and maximize return on investment, it’s critical to determine if your assets are in use (ROI). Equipment management software improves organization and transparency in scheduling. This allows you to focus on making the most of the tools you already have and enhancing overall output.
When you utilize an ordered calendar, it’s simple to see which assets are in use and which aren’t. You can also allocate chores by glancing at the schedule and identifying the individual in charge of a certain piece of equipment.
Features of Equipment Rental Software
The ability of a system to suit a variety of needs is referred to as flexibility. It also relates to the design’s consistency, which allows it to be customized for your store. As you may know, no two rental organizations are identical, and even within the same types of stores, each management department has its own ideas about how to run a business.
It might be incredibly damaging to your business if your rental system freezes or worse, crashes in the middle of a customer request or other basic function. It’s all about reputation, and there’s only one way to get it. Check to see if the vendor has a prominent presence at major rental trade shows or conventions.
Businesses may have a broad idea of what equipment they possess or what equipment they are currently renting out. However, many of these companies may not have access to real-time asset data. As a result, it’s vital to have an up-to-date system for tracking incoming and existing equipment.
Customer service must be included in your rental management system. Many software businesses provide monthly membership services that include, among other things, toll-free telephone support, free app upgrades, and access to a user forum.
Whether you have a middle-market or a fast-growing small firm, our equipment management system offers a smarter way to track equipment. The powerful cloud-based platform of RentTool maintains and records asset paperwork for easy access.
Determine the availability, location, and maintenance requirements of your equipment using a computer or a mobile app. You can get rid of cluttering spreadsheets while also improving data accuracy. Our solution provides a single source of asset information to improve compliance and audit readiness.
by Rentcubo | Jan 24, 2022 | Equipment Rental Software
As we approach 2022, equipment dealers and rental companies will undoubtedly be looking forward to studying and adopting various methods and technologies in rental software to ensure the smooth functioning of their businesses. The equipment rental sector is more focused than ever on digital transformation hot themes and trends. The business is changing rapidly and adopting new platforms to boost productivity, efficiency, and performance, but what new opportunities can dealers expect in the present year?
Equipment Rental Software is a solution tailored to the equipment rental and distribution industry. Equipment Rental Software improves efficiency in the rental department by improving the operations of equipment rental, inspection, and maintenance, among other things. Unlike traditional equipment dealer management systems, equipment rental software is designed on cutting-edge technology with cutting-edge features that will revolutionize the way you run your business.
Every year, the impact of technology and data on the Equipment Rental Industry grows. Dealers and rental firms are using equipment rental management software to improve their rental operations in order to keep up with industry development. New technologies and platforms are revolutionizing the sector, and we anticipate a slew of technological advancements that will have an impact on the rental market by 2022. Here are the top five trends to watch in 2022.
Today, big data is a large part of the industry, but it appears that many dealers are battling with information overload rather than using their data to its full potential. Companies that do not use data to improve decision-making, operational efficiency, and customer service will fall behind the competition in a competitive sector like the equipment industry.
Rental rates and equipment usage are two major ways that data will be used in the future. As enterprises attempt to make the rental experience easier and more flexible for clients, dynamic rental rates supplied through systems that can adjust rates based on demand from changes in season or the market will be increasingly popular. Furthermore, systems that automatically track and calculate the amount of time and money spent on each specific machine would be incredibly valuable to dealers and distributors.
Mobile Inspection Applications.
In today’s environment, mobile usage has far overtaken that of desktops. There will be no difference in the equipment rental industry in 2022 since we expect mobile capabilities to play a significant role. Mobile inspection applications will be used by equipment distributors and dealers to streamline yard management activities such as equipment check-ins and check-outs, issuing service orders, making reports, and more. In 2022, mobile inspection applications will advance much further, altering how businesses communicate and collaborate. Yard management and rental inspections will benefit from unique features like photo capture and annotation capabilities, which will keep users informed, up-to-date, and on the same page.
Telematics and Fleet Management
In 2022, telematics in the rental industry will be a prominent trend. Dealers and distributors are constantly seeking new ways to improve rental fleet uptime while reducing rental department equipment downtime. In the coming years, we believe telematics technology will be one of the most important factors in increasing the rental fleet’s productivity.
Telematics will be used by the equipment rental business to track data about machines such as locations, temperatures, and more. Machine telematics will also aid with upkeep and maintenance, allowing businesses to be more proactive in repairing and maintaining their assets. It will be critical to have a thorough understanding of each piece of equipment in the rental fleet, not just for safety but also to extend the life of the devices. Many companies in the industry have increased their rental fleets to hundreds of units or more, thus telematics will be critical in 2022 to maintain equipment quality.
Businesses may have a general sense of what equipment they own or what is currently hired out. However, many firms may not have real-time data on their assets. To track incoming and exiting equipment, an up-to-date system is required that shows what’s ready, what’s rented, and when it’s due to be returned. The backbone of equipment rental system software is having a solid inventory tracking system.
Centralized Customer Management Software
Equipment rental buyers must have an effective system that maintains customer information from a centralized database in order to give a level of service that makes customers feel appreciated. The capacity to handle client data (e.g., name, address, email addresses), as well as transaction and invoicing information, was the purchasers’ top feature requirement (e.g, cost of what they rented and rental agreements)
Conclusion:
As we approach the year 2022, equipment distribution and rental companies must equip their dealerships with cutting-edge technology in order to provide diligent and excellent service to their consumers. Cutting-edge equipment dealer management software can take advantage of your equipment and customer data, install mobile inspection apps, and use telematics to manage your fleet.
