There are a lot of moving parts to keep track of in the Equipment Rental Management Industry.
To succeed in this industry, you must manage the deployment, return, utilization, and maintenance of serialized and non-serialized equipment, tools, and consumables.
From fixed assets to field services, early/late returns to handling various pricing nuances, and much more, rental merchants quickly realize that managing logistical activities manually (think spreadsheets) is not a viable business model. As soon as customer demand outpaces manual processes, there is the need for an efficient digital end-to-end solution to become a viable business.
CBSi understands the challenges of the equipment rental sector:
Know asset location and availability
Maximize equipment utilization
Schedule maintenance to minimize equipment downtime and improve safety
Improve recording of Job Costs and Billing for longer duration equipment rental jobs.
Equipment Rental Challenges
Keeping a healthy cash flow
It is impossible to make accurate equipment reservations if you don't know what is available to rent, where it is, and when it's coming back.
Being able to view all upcoming reservations and manage equipment inventory from one place is challenging without an automated real-time business solution. Theft and lost rental items drain profits, and knowing which staff members entered check-in and check out details for rental units can allow for targeted training to streamline your processes.
Accessing a trustworthy view of Rental Equipment availability
Boost business productivity by giving everyone the ability to create automated workflows. Easily tackle all the repetitive, mundane tasks your team does every day. Get started with thousands of prebuilt templates that solve the most common issues, so you don’t have to reinvent the wheel.
Managing complex bookings & pricing models
Equipment Rental businesses quickly learn that tracking bookings manually is laborious. Standard out-of-the-box accounting systems can't accommodate the calculations needed to meet a variety of rental scenarios.
Booking systems must be able to accommodate early/late returns, add-ons and supplies. They need to be accessible online and available 24/7 to capture business. Stand-alone systems that can't deliver centralized information cause bottlenecks.
Rental merchants need a highly organized way to keep equipment clean and running optimally to keep operators safe, earn trust from customers, and stand out from the competition. They need to manage periodic maintenance and analyze when an asset has reached its end of rental life and needs to be disposed of to reduce operating costs.
Meeting customer expectations
Communicating the various available options with clarity is challenging without an easy way to consolidate and retrieve information. Making online reservations available 24/7 and enabling mobile apps for ordering from remote locations are minimal capabilities to boost sales.
Accelerate Your Rental Business with CBSi,
Your End-to-End Equipment Rental Services Partner
CBSi delivers an end-to-end Microsoft Dynamics rental solution that includes all the functionality you need to run a successful rental and sales business. A fully integrated business system that streamlines reservations includes scheduling, tracking, pricing, accounting, asset management, customer service, and more.