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
- Seamless Operations:
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.
- Less Downtime:
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.
- More Transparency:
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.
- Scheduling:
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
- Flexibility:
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.
- Reporting:
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.
- Inventory:
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.
- Support:
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.
