RapidCount
Rental inventory management for RentalMan
Better Rental Inventory Starts here
Drop us a line and we’ll be in touch about how RapidCount will change your business.
A costly balancing act
For a rental company to thrive, it must prioritize both precise inventory counts and efficient operations. Yet, achieving the right time-balance between the two is challenging. Neglecting inventory can result in significant overspending (by millions of dollars). Spending too much time on it can take away from the core operational aspect of the business – renting equipment. Using paper and pencils doesn’t help either.
Stop making trade-offs
RapidCount cuts down on the time rental teams spend on inventory counts, lessening the need to make trade-offs with operational productivity. Managers can schedule counting tasks for branch employees. Employees can quickly update counts for parts, merchandise, or equipment in their mobile app. A direct RentalMan integration cuts out the manual, time-consuming, and error-prone data entry.
Cost savings with RapidCount
A recent study estimated that RapidCount cut the time it takes to complete a count sheet from 60 to 30 minutes. To put that in perspective, let’s calculate the savings for a company with 30 rental locations that has 1 employee at each branch counting inventory for 3 hours a day (1 hour each for merchandise, parts, and equipment), earning $28/hour for 250 days per year (accounting for vacation). Here is what RapidCount could save:
Yearly time savings: 11,250 hours
Yearly wage value savings: $315,000.00
This doesn’t even factor in the tens of thousands of dollars in likely cost savings opportunities from consistent, accurate inventory counts that will reduce overspending from under and over stocking.
Calculate Your Savings
Features for better rental inventory
Frequent RapidCount Questions
Do I need RentalMan to use this new solution?
Yes, the latest version of the core rental ERP, RentalMan is required to use this new solution. Don’t have RentalMan yet? Learn more about RentalMan here!
How does RapidCount assign inventory count tasks?
Managers can assign tasks manually or set up an automated task assignment to those responsible for counting inventory across the rental branches. This is done via a dashboard in Wynne Hub and is completely customizable to every rental company’s needs.
Why develop an inventory solution?
From customer surveys, to onsite customer visits, to conversations we regularly have with people across rental, inventory is a common challenge we repeatedly hear about. After more digging, we found it’s not just an issue in rental. For every $1 in retail revenue earned, companies typically sit on $1.43 in inventory (SC Digest).
Inventory is a vital part to any rental business. After all, if a rental company doesn’t know what parts, merchandise, and equipment they currently have on hand or need in the future, they’re flying blind. That means excess costs due to under or over stocking that could add up to millions every year.
Counting stock isn’t easy though. Many still use paper and pencil across tens or hundreds of branches. It’s time consuming and prone to errors, which feeds right back into the main problem again – flying blind into cost issues.
The industry needed a rental inventory solution, so we got to building.
