Technology has made it easier than ever before to accurately track equipment being rented out to others by your company. Although technology can help streamline the rental process, the wrong rental software could end up causing you unnecessary stress.
Knowing what features to look for as you shop for a new rental software program will help you invest in the product that will best meet your company's unique rental needs.
1. Order Management
One of the most basic features that your equipment rental software program should have is an order management capability. Order management features allow you to not only generate new rental requests, but to ensure that new requests don't conflict with existing requests pending approval in your database.
You can also utilize the order management feature to generate custom invoices and calculate applicable discounts that will make billing customers a lot easier.
2. Maintenance Management
Keeping the equipment your company rents out to others in good condition is essential to the success of your business. Improperly maintained equipment could pose a serious safety hazard and could compromise your company's reputation in the marketplace.
Your equipment rental software should allow you to accurately track maintenance tasks for each piece of equipment in your inventory. You should be able to schedule major repairs in the maintenance section, and have the equipment being repaired automatically removed from the available inventory list.
Your maintenance tracking tab should also send reminders for scheduled maintenance like oil changes and safety inspections so that these vital tasks are not overlooked.
3. Report Generation
Improving your company's position in the marketplace requires that you continually track performance. You need to invest in an equipment rental software program that will allow you to generate informational reports and run advanced analytics with ease.
These reports and analytics can provide you with valuable information on rental preferences, average rental times, and item usage. You can use this information to strategize ways to better meet the needs of your customers.
Reports and analytics generated with your equipment rental software program can also help you streamline operations and reduce overhead spending by focusing your marketing efforts on the equipment items customers are most interested in.
Having access to the right software program will give your equipment rental company the management tools it needs to become as successful as possible in today's competitive marketplace. Be sure your new software program includes order management, maintenance management, and report generation features to maximize the benefits an equipment rental software can provide.