I am taking that you are running an equipment rental business. Whatever may be kind of equipment you may rent like fixed assets, bulk stock inventory, or consumables, you need to keep track of the incoming and outgoing equipment. Only then, you can keep a check of your inventory to fill it again, can send the equipment to the place where they need that, or protect the equipment that needs to be handled carefully like Cameras, cars, Laptops, etc.
If you are still using Spreadsheets to keep track of all kinds of equipment. I am sorry dude; you are still back by decades in using the technology. Because now many firms have turned to utilizing Equipment rental software, a reliable system to manage the rental business, and efficient tracking of equipment.
Equipment rental software
A platform that assists in the efficient operation of the equipment rental industry is equipment rental software. From inventory scanning, equipment maintenance, tracking, and repair, to internal processes like asset management and auditing, it digitalizes the whole rental process. These can all be completed with a single click.
It is possible to design this programme particularly for various equipment categories, such as events, construction, and recreation.
Why does Equipment tracking matter?
Equipment tracking matters for managing rentals and avoiding problems like overbookings or misplaced equipment. So that,
- they can provide seamless customer service and receive positive reviews.
- Also, regular audit and inventory check allows owners to check the missing items and take action to recover that or address other security issues.
- It basically optimizes the rental operation to keep on checking the inventory and fill it again when it is gone to ensure the customers with equipment when they need.
- Tracking equipment streamlines rental flow. So you can let your customer experience positive vibes and they will become loyal to you
- Also, tracking reduces the theft and risk associated with stolen equipment. Tracking keeps you informed of the inventory. If anything misses, it enables you to take action immediately
How leveraging the Equipment rental software aids you in tracking?
- Equipment rental software streamlines the rental management
Using a spreadsheet to track the equipment is okay when you have a small business. But as your business grows, you will have many pieces of equipment comes in and out by various customers day and night. At that time, it is advisable to use asset management software or equipment rental software.
Because the software expands its ability and grows along with your company. Also, it saves you a ton of headaches and time.
The rental software automates a lot of complex tasks and repetitive processes. For example, you can set up a tag for your equipment’s with a barcode, QR code, or RFID tracking. So, you can scan each item and see details like product number, warrant details, who rented it out last, who is renting it now, etc.
Not only these details, but you can also add extra categories and fields according to your equipment for efficient tracking. Every little piece of information will be updated automatically whereas in spreadsheets, it will take time and you might miss a thing or two in the hurry. Automated updating helps you in the time of auditing to quickly verify the details of the equipment.
Besides tracking the details, you will get insights into the check-in and check-out rate, productivity, and revenue of the business to use it for the improvement of the business
2. Basic check-in and check-out function
Setting up a user request site where users can reserve goods themselves can be a huge time saver for your IT team if you have staff, students, or volunteers that need to check out particular equipment, such as video cameras, microphones, or lighting gear.
You can set up SAML single sign-on, customize the appearance and feel to match your brand-, and configure various role-based access controls. Therefore, you can restrict access to certain equipment for certain groups or people. Additionally, this avoids overbooking and guarantees that you have historical records of who has checked each item in and out.
- Reminders and alert functions
The user request portal has another advantage in that it can streamline email and text communication to the users in case of when they need to remind about the date that they must return the equipment, or about the instruction on how they need to handle the equipment, or about the pending payments.
For example, if a user wants any construction vehicle for the groundwork, he can register in the user portal, and after that he will receive a message denoting the date and time for him to come and take the vehicle.
- Reduce equipment damages
It is increasingly crucial to have specialized preventative maintenance practices to handle wear and tear the more often your equipment is used, especially if it is frequently checked in and out by amateurs or careless users. Your equipment will last longer if you do routine maintenance. A spreadsheet or periodic calendar reminders are excellent when you only have a few pieces of equipment. However, when your fleet of equipment grows, you’ll need a more reliable approach that includes safety inspections, preventative maintenance management, and the creation of repair orders for when things fail. Fortunately, the equipment rental software has these features.
Hence in conclusion
There are a lot of moving parts in managing and tracking the equipment rental. To efficiently organize all moving parts, Equipment rental software comes in handy. With that, you can track all the equipment details at your fingertip, build an automated check-in and check-out, streamline the maintenance and repairs, and reduce the thefts and missing equipments. Overall, it is designed to manage all rental business operations from one place that too easily and effortlessly