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.
Real-Time Inventory data
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)
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.