Having the right equipment rental software for your rental business is critical to saving you time and money. Large complex businesses need an equipment rental solution that complements their business processes and paves the way for growth.
Below are 5 ways the right equipment rental software saves money:
1. Automates Your Customer Transactions
A web-based customer portal is one way that rental companies can keep up with their customer’s desire to easily place and manage their rental orders. Your clients are using to ordering goods over their smartphones and computers, so why not allow them to rent from you that way as well? A good portal will likely increase sales as well as free up employees from answering phones, and let them focus on additional revenue generating activities. Simple tools allow customers to get quotes, place orders, manage inventory and even pay their invoices all online, all without someone having to re-key orders from one system into another.
2. Automate Your Rates
On-demand pricing will look at several factors and automatically suggest optimized rates. Leaving your front-line employees to guess the best rates to charge on any given day based on their perception of demand, utilization, and current market pricing leaves a large opportunity for errors. Often, perception is not reality. By implementing an on-demand pricing engine, your system can use real-time utilization, reservations, and actual “in-play” rates to suggest the most optimal rate to charge for a rental.
3. Automate Your Maintenance
Configuring your system to automatically open a work order and notify the appropriate people can save many hours that usually gets spent by your maintenance teams researching what needs to be done. In addition, by switching to a more proactive business process, you can prevent missed work that can cause your equipment to fall out of a good maintenance routine. By automating, you gain more workshop resource time for maintenance and repair work as well as more uptime for your equipment.
4. Automate Your Unique Process
Employee turnover and the need for constantly evolving business practices can mean challenges keeping your employees up to date. By building important business rules into the system that front-line employees use during most interactions, you can help ensure consistent behavior as people or business rules change. This will improve customer relationships, prevent costly mistakes and make a more productive front-line employee regardless of experience. Help employees follow best company best practices when placing orders, recommending associated products and taking equipment calls by walking through consistent business rules and processes. This ultimately makes the right thing to do, the easy thing to do, ensuring opportunities are not missed and costly mistakes are avoided.
5. Automate Your Reporting
Too often, managers must generate and print countless reports, weed through the data and hope to catch an anomaly indicating a problem. Instead, consider switching to exception-based reporting and pushing the exceptions out to the relevant people as soon as they occur. This could mean countless hours can be saved and critical problems quickly identified before you lose an opportunity or incur a significant cost. Exception reporting and dashboards can help manage exceptions by displaying important metrics visually so you do not have to dig through pages of printed reports.
These are just 5 ways the right equipment rental software can make a big impact on your business. Each rental business is unique so finding the right partner to work with you to create a custom rental software solution is key to growth. If you are interested in how Wynne can help you business, let us know and we would be happy to discuss your unique needs.
