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Benefits of Rental Equipment Software

HBS Systems | August 1, 2021

The primary purpose of any technology is to simplify a process to make it more intuitive and efficient to create a more productive workforce and profitable organization. However, this is if used correctly, and it benefits the service an organization is providing. When it comes to dealership software, within a dealership management system, the aim is to efficiently utilize available resources while ensuring that each aspect of the business is covered, from training and customer support to productivity and financial management.

When looking inside a robust dealer management system, it should include rental equipment software because renting will always be a popular option for companies in need of equipment. Rather than having specialized equipment on hand and absorbing that cost, many companies rent instead when performing a job that cannot be performed with available equipment. Construction equipment rentals have been on an upward trend in the past few years and will continue as the American Rental Association (ARA) expects “equipment rental revenue to exceed $47.8 billion in 2021, nearly a 3.5 percent increase over 2020 and greater than last quarter’s forecast that called for a 3.1 percent increase this year.” This increase will be followed by another 9.68% in 2022, passing the industry’s previous peak in 2019.

The purpose of rental equipment software is to help manage the fleet of equipment that an organization owns. This software can benefit an organization in many ways beyond just knowing what is available and where the rental is. Strong rental equipment software will allow an organization to do the following and reap the benefits.

 Optimize fleet utilization

 This is the bread and butter of any rental equipment software option. The longer uptime each asset of an organization has, the better it will be for the bottom line. The purpose of owning this expensive equipment and maintaining it is to make it available for those who need it, and know where each asset you own is, improves customer service and customer satisfaction, which creates return customers.

 Check availability by equipment type and subtype

 The truth of any business that maintains an inventory is that you live and die by that inventory. Being able to quickly view specific equipment types, no matter the specifications is essential to any rental business. You need to know what is on the lot without looking for it. HBS Systems NetView ECO rental equipment software is web-based and allows you to access your available inventory anywhere on any device.

 Customize rental rates

 When an organization has a loyal customer, they may want to give them a preferred rate for their loyalty. Having the ability to select different rental rates by each customer increases customer satisfaction and builds on that relationship further.

 Set up reservations

 Before taking a job, many customers that will be renting equipment will plan ahead. Planning is just good practice, and knowing that a company will work with them on that plan will win them over. This is essential for any business that is renting anything. Ensuring customers that you can meet their needs will keep them happy.

 Add or return items as needed

 As with most projects, things often do not go according to that plan, and changes occur. In most cases, new information or changes in a job will force an adjustment. Understanding that this happens, rental equipment software has a solution by adding, returning, or exchanging equipment.

 Reporting

 Though listed last, reporting is an incredibly important aspect of rental equipment software that allows users to see and measure the strength of different equipment in an organization’s fleet. From a pure data perspective, a dealership can see what they should focus on. This way, an organization can make data-driven decisions that will only make them stronger.

 

The benefit of all of these features, overall, is an increase in productivity and profitability. The difference between good rental equipment software and the best rental equipment software is the depth and usability of its features. HBS Systems goes beyond the basic rental dealership software features with a host of additional features that can be used anywhere on mobile devices in one easy-to-use system.

 To learn more about how HBS Systems can Advance Your Dealership, give our team a call at 800-376-6376 or email sales@hbssystems.com.

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