Growth is at the forefront of any business’s ultimate goal no matter the industry.

If you want to take your business to the next level and you already have an established brand, going global may be the next step in your business journey.

As many who have ventured into international waters will attest, growing your business to have a global presence can have a unique set of challenges, but it can also provide you with some fantastic opportunities.

Cross-border sales will help you improve your brand while simultaneously legitimising it among your existing and potential clients. To expand your hire business, you need to find suitable systems and processes that will keep your equipment inventory and staff organised.

Let’s take a closer look at how inventory management software can help hire businesses to grow globally.

1. Managing your inventory remotely

When branching out to different geographical locations, keeping track of your inventory can be difficult, especially if you’re working from multiple locations in a large team.

Once you take your business global, your staff cannot manually update and track your inventory since it’s not a feasible way to manage your inventory.

Using inventory management software can help you keep track of everything in your hire business. Since hire businesses depend heavily on their equipment, it’s important to have an accurate count of your inventory and make sure that it’s updated in real time so that your equipment doesn’t get overbooked.

This allows your team to work collaboratively and also not waste time on cross-checking the availability of equipment, which would otherwise inconvenience customers who are looking for urgent hire solutions. Cloud-based or mobile inventory management tools enable easy accessibility anywhere and can become great assets for businesses that have warehouses around the world.

2. Making reordering and inventory tracking simple

When you have a good handle on your inventory figures, the next step is to ensure that you can keep track of your reordering and know how many items you have in stock.

Inventory management software can help you identify:

• Which equipment is being hired for what periods of time


• Whether an increase or decrease in hires occurs during certain times of the year


• Which equipment is not being hired, and more

It can offer you valuable insights into the trends of the hire industry and allow you to get ahead and ensure that you have the right equipment, at the right time, and in adequate quantities that can meet the growing demand.

Aside from ensuring that your hire business stays on track, it can also help you get insights to make more informed decisions.

3. Reducing storage costs and insurance fees

Warehouse storage and insurance are two important costs to consider when holding inventory. Leasing property isn’t cheap and your insurance costs can also spike if you need more space and equipment.

While you don’t want to miss opportunities to make more sales, you also want to keep your footprint as small as possible while enjoying big gains.

A good inventory management system can help you predict more clearly the equipment you’ll require to increase as you grow your business. Especially considering that batches of your equipment will also need to undergo maintenance which will put them out of circulation for a while, you need to ensure that it does not impact the inventory you have and your demand.

This information will help you streamline your planning, boost your profits, and invest more money in expanding your business.

Build a global hire business with inventory management software

Implementing a cloud-based inventory management software is important for any business to grow globally.

With the ability to help boost your annual revenue, inventory management is a tool that needs to be at the core of your business plan.

At MCS Rental Software, we match the systems and processes that will work for you and your unique hire business. Reach out to our team of experts and find out how you can use hire software to continue your growth on a global scale.