Choosing the right equipment and rental management software can make a big difference in how efficiently your rental business runs.
The right equipment and rental management software partner can improve the operational efficiency of your rental business and just simply make your life easier.
The implementation of the software is the key. Ensure that your partner has done this more than once.
When choosing a software solution, ensure that the product delivers a complete inventory management solution, tying together all of your business processes, including equipment management, resource planning/management, billing — everything needed to make better decisions, improve service and, in the end, to produce a better bottom line.
Integration is also important when choosing a software solution. A great software solution should always integrate with an accounting package of your choice and with other business-critical applications, such as routing management and dispatch systems, tax compliance applications and document fulfillment services.
Each client has unique requirements so flexibility is imperative. Choose a software solution that was designed to incorporate the wishes of each individual client into its production software, but will also work with you to handle any necessary unique requirements. With a software solution that adapts to your business rather than your business adapting to the software, you will be confident that as your company grows, the software grows with you.
Choosing the correct software, your company will realize many efficiencies immediately, such as increased revenue, reduced capital expenses, increased revenue per employee, reduction in overhead expenses, and reduced maintenance cost. It should also track the history of an individual asset including utilization, total cost of operations, total cost of ownership, and return on investment.
In addition, when selecting a software supplier check to see if it provides client-requested enhancements, and available support staff 24 hours a day, 365 days a year.
Michael Saint is president of Baton Rouge, La.-based Corporate Services.