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Why Does Your Dealership Need Equipment Rental Software?

HBS Systems | January 1, 2021

The most recent industry reports suggest that 60% of all heavy equipment will go through the rental channel before being purchased.  Equipment Rental Software provides the functionality to streamline rental operations and improve profitability. HBS Systems Equipment Rental Software enables dealerships to plan, operate, monitor, and improve rental operations, to increase profitability, enhance customer service and increase customer loyalty. The rental department is seamlessly integrated with the rest of the dealership which reduces equipment downtime, streamlines operations, and ultimately increases the profitability of your rental department.  There are many notable benefits of renting construction equipment.

With Equipment Rental Software, equipment dealers have full visibility into their entire rental department. Personalized operational and executive dashboards bring detailed insight into high-level KPI’s as well as day-to-day tasks. Operational dashboards improve productivity and eliminate time-consuming searches by consolidating job-critical information. For example, a rental manager would see tasks that require immediate attention such as “Rental Contracts to be Returned”, “Demo Contracts Overdue”, and more when they log in each day. Equipment Rental Software provides advanced analytics and reporting which gives organizations the ability to make crucial business decisions and shed light on potential business opportunities such as opening new branches based on rentals sales in given geographic areas.

In the ever-changing equipment rental industry, many dealers have developed processes that are counterproductive based on the outdated technology they have been using for years. With HBS Systems NetView ECO Equipment Rental Software, equipment distribution and rental companies move from a reactive to a proactive mode of engagement. With features like Rental Fleet Management, Equipment Configuration Management, and telematics with top OEMs, Equipment Rental Software streamlines every aspect of the rental department.

HBS Systems NetView ECO Equipment Rental Management Benefits Include:

HBS Systems Rental Management helps dealerships to get the most out of their rental fleet. Dealerships can plan and operate their rental operations more efficiently at every stage, from quoting through invoicing and collection. It’s critical to maximize utilization in the rental industry, Equipment Rental Software tracks key metrics such as Time Utilization and Finance Utilization to get the most out of every piece of equipment in your rental fleet. Equipment dealers can access reports on ROI on machines and more.  Leadership is empowered to analyze and make strategic data-based decisions on utilization, ensuring the rental department maximizes profitability when renting and selling equipment.

NetView ECO Equipment Rental Software is developed with industry-specific features and flexibility to handle the unique needs of the equipment rental business. HBS Systems Equipment Rental Software supports multi-location rental operations, optimizing utilization across branches. It provides flexible pricing and price simulation options, to support advanced pricing schemes with multiple prices and discount variables. Equipment Rental Management can also handle contract types of all kinds including rent to rent and rent to sell, ensuring your rental team can handle any situation that arises to keep your customers satisfied.

 

Built with hundreds of the industry’s best practices, NetView Equipment Rental Software streamlines processes in the rental department to provide the industry with a solution that increases efficiency at every level of operations. Dealerships have greater control over their rental department with powerful features that include: setting up alerts, assigning tasks, and tracking rental status and fleet availability. Complete visibility, greater control, and the industry’s best rental analytics empower dealerships and rental companies to make data-driven decisions.

Equipment Booking and Reservation

Exceeding customer’s expectations and providing service at the speed of rental is the goal of Equipment Rental Software. HBS Systems NetView ECO Rental Management empowers organizations to accomplish this goal and increase profits. Equipment Rental Management is more than just equipment scheduling software as companies can track multiple meter readings. This proves to be essential in making sure customers are charged the appropriate rate for the equipment in the case of over-usage. Visibility of effective and expiration dates for rental rates makes the equipment booking and reservation process more efficient by cutting transaction time, leading to improved customer satisfaction. Customers no longer experience miscommunication or confusion in the process of reserving equipment as they can reserve, order, and receive the exact equipment that meets their needs.

Equipment Tracking and Availability / Inventory Management

Equipment Rental Management equips organizations with robust tracking and inventory management tools. Dealerships have visibility of every piece of equipment within the software through GPS tracking. Organizations gain a competitive advantage as real-time KPIs integrated with GPS mapping allow executives to make strategic decisions based on equipment usage, travel time and distance, freight cost, and more.

Customers benefit from Rental Availability Search when looking for the equipment and machines that they need. Rental Availability Search filters and searches by category, model, branch office, location, and even different versions or options of specific models. Therefore, customers who may need a machine with a specific part can search by attachment, making sure every possible need of the customer is fully met. Customers also can search for alternative equipment in cases where certain machines may not be available. All equipment details are visible within the software, including the history of the equipment, when it arrived, and who has rented it over time. Equipment Rental Software provides the “Life Cycle Cost”, detailing every financial activity of a machine. This includes details of profitability, rental revenue, service orders, original acquisition cost, insurance associated with the machine, interest on loans, warranty reserves, and more. Even further, for equipment that has been customized or configured in a specific way, Equipment Rental Management keeps track of “Configuration Life Cycle Cost”, calculating the changing value of a machine with different attachments and configurations.

Fleet Management and Scheduling

With NetView ECO Equipment Rental Software, dealerships maximize the availability, performance, and utilization of their rental fleet. During the cycle of equipment being returned, maintained, inspected, and sent out again, HBS Systems Equipment Rental Software helps to automate processes and streamline operations. Turnaround time is significantly lowered. Appropriate parties are notified in real-time when equipment returns to the lot, allowing the unit to be inspected, work order to be generated and completed, and the unit ready to be rented out again in the most efficient manner.

Integrated Accounting

Traditionally, dealerships have used spreadsheets or sometimes paper to run the accounting processes of an organization. Equipment Rental Management drastically improves this process as organizations can implement paperless quote, order, and invoice processes. Easy quoting, invoicing, and document management delivers efficient administration of the rental process. Rental managers are also equipped to create quotes and contracts through Rental Dashboards in the solution, utilizing all-inclusive proposals of equipment, attachments, warranty, services, and trade-ins. The NetView ECO Equipment Rental Software provides flexibility for rental invoicing with auto-calculation of invoice amounts, considering off-rent periods, and other common financial occurrences in the rental department. Overall, streamlined accounting processes integrated with the software provide organizations with the control and visibility of finances to take greater control over their rental departments.

Integrated CRM

CRM capabilities are fully integrated into the Equipment Rental Software. This equips your sales department with all the tools they need to improve customer relations and close more deals. The sales team can take a focused and guided approach with customers by tracking all sales activity, customer information, and complete customer interaction history. With comprehensive management information, complete tracking of meetings, offers, and interactions, and full visibility of inventory and details (specifications, configurations, images, pricing, attachments, options, credit, and more), dealerships can be confident that their sales team is empowered to effectively close deals and serve customers and keep moving at the speed of rental.

Reporting and Analytics

Successful organizations aren’t able to make data-driven decisions without having access to information in real-time, Equipment Rental Management provides real-time reporting and analytics to help organizations evaluate key rental department metrics. HBS Systems Rental Management provides an abundance of data broken down by equipment type, OEM, model, and even individual serial number. Companies are given visibility into data, drilled down to the individual machine level, enabling executives to analyze which machines are most and least utilized. As a result, leadership can make strategic and calculated decisions such as discounts on low-utilization items and increasing prices on high-utilization items.

Proven Success

HBS Systems has assisted dealerships throughout North America to streamline rental operations and improve profitability. With fully integrated Equipment Rental Software, all departments within the dealership should see improvement in productivity, performance, and profitability. Dealerships and rental companies, like Badger Contractors and Rental trust HBS Systems to provide advanced productivity tools to transform the way businesses run their rental departments. Every component and process of the rental department is streamlined and easily tracked, helping you to maximize ROI from your rental fleet. 

HBS Systems is committed to empowering the equipment rental industry with innovative software that works with the flow of your business while providing award-winning training and customer support. To learn more, contact our HBS Systems team at 800-376-6376

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