The equipment hire market is booming, and with the industry worth approximately $8.8 billion annually, it’s only getting bigger.
But with increased demand for hire companies comes increased competition. Managing daily operations, meeting client demands on time, and keeping equipment safe and sanitary all while maintaining that competitive edge, is no easy feat.
That’s where integrated rental management software solutions prove their worth with a solution for these challenges that take the burden of time-intensive administration off your timesheets.
So what can you gain from rental management software? From streamlining your operations to enhancing your productivity, all it takes is a single solution.
Prioritising transparency in your operations
As your operations scale up it becomes easier to end up with siloed data and poor coordination between your teams. This leaves you with inconsistent workflows that affect every operation from maintenance and transportation to forward-facing logistics and customer care.
When you leverage an integrated hire solution, on the other hand, you can centralise your scattered data, keep it updated, and make it more accessible for your teams that need it.
With all your data stored in one place, you can check for the availability of equipment, respond to customer enquiries swiftly, and schedule deliveries more seamlessly than if you had to juggle manual documentation or bulky, obsolete systems.
More aligned systems and data
Every growing business faces challenges with data management as it expands.
While software solutions promise increased productivity, having different systems operating simultaneously will only make things harder for your hire company—particularly when your information is not synced with your enterprise resource planning (ERP) system.
Today, there are more advanced equipment rental software solutions that can sync automatically with your existing ERP system and guarantee a more unified view of your data.
Real-time data empowers your business to hone its accuracy when it comes to your day-to-day operations and finance management, all while reducing the cost of errors and repetitive tasks.
Streamlining your planning and scheduling
Data and insights are the backbones of any contemporary business. With rental software that has an integrated insights feature, you can strategically plan your operations and make more future-focused decisions that help enhance profitability in the long term.
Using historical data, you can anticipate company and customer needs, predict upcoming trends, and forecast market challenges and changes.
One example of how rental software can help you hit all these goals is through features that support equipment maintenance, safety checks, and servicing. It also helps you predict the low-demand periods for your equipment beforehand and schedule maintenance and checkups to align with these times.
Balance your equipment portfolio
The mobility and remote accessibility of the right hire software solution ensures that all vital business information collected at different touchpoints is consolidated in a single place.
What can a centralised and updated information base bring you?
With reports and insights on the equipment that holds the highest demand, the equipment that has long-term and short-term renting potential, as well as the ones that can command a higher rate—you can manage your equipment portfolio seamlessly.
With these insights, you can manage your portfolio with the right balance of equipment throughout the year.
Simplify processes for your team
Finally, the increased accuracy and insights introduced to your operations lead to higher productivity for your team.
As you ease into paperless working and take the pressure off your teams, freeing them from the hassle of time-consuming administration and manual processes, you also give them access to tools that let them respond to customers without delay, and complete billing requests without a lag.
A rental software solution offers visibility and access to customer histories and conversations so any one of your team members can follow up on leads, close sales, and respond to enquiries without feeling like they’re missing information.
This gives your team the confidence to pick up the pace and improves efficiency across your organisation. What does that mean for your customers? A much more positive experience doing business with you.
Rental software accelerates your operations and increases organisational efficiency
As the hire business segment grows, you can now grow with it.
Using rental business software, you can scale your operations with more ease and maintain your standards while you do without it resulting in higher costs or greater stress on your team.