Shake a rental computer purchasing decision, and all kinds of motivations fall out. If the system is intended to replace manual transaction writing, then efficiency and accuracy automatically rank high on the list. So do inventory control and customer service.
These benefits are delivered by virtually all rental-specific computer systems to one degree or another — and that can be a stumbling block to choosing the best system for your business. If your decision criteria only recognize generic, ground-level benefits, then any rental system will appear to suit your business. Common sense tells you this isn't true. So how do you identify the system that's right for you?
Think before you leap
To begin with, think first, act second. Too often, rental owners start seeing software demonstrations without a clear idea of the right questions to ask. This is a cart-before-the-horse approach. It relies on the right system “declaring itself” during the review process. You can avoid making a mediocre choice or a costly mistake by taking the time to prepare in advance.
Concentrate your attention on the diverse operational needs of your rental business. Virtually all rental systems are capable of writing a rental contract, calculating simple rates, invoicing, controlling the resulting cash and accounts receivable and reporting on the flow of business, at least on a basic level. These functions were the focus of rental software development 20 years ago. Look for systems that have moved on to address the operational aspects of specific types of rental businesses. This is a pivotal point because this is where your type of rental business can thrive or be held back by the software you choose.
Take the special requirements of party rental, for example. What are the rental-specific demands of a party rental operation? Reservations, order assembly, setup and delivery are just a few. These demands can be greatly eased by specialized software that has been developed for party rental applications. Another example is “kit” software: an industry term used to describe a computer's ability to bundle commonly-grouped items into one rental “product” for transaction purposes. Even here, needs differ by operation. For example, costume rental businesses and tent rental businesses typically use intensive kit functionality (by color, size, fabric, accessories, etc.), particularly multi-level kits. A table and chair rental business does not.
Customers of party rental businesses may need specialized document formats such as quotations, delivery tickets and invoicing. They may require special rate formulas that price the rental by event period or type of event. If a party rental business sells retail items such as paper goods, seasonal-sensitive purchasing capabilities can be an important feature. These are some additional examples of rental-specific software considerations.
Four tier decision structure
A structured decision process is neither difficult nor time-consuming. Start by listing the basic benefits on Tier One of your chart: general counter operations, rental transaction processing including contract writing, business administration, accounts receivable, management reporting and customer service. Look for ease-of-use, logic, overall comprehensiveness and flexibility of these Tier One functions in the system you choose. Confirm that each system can handle your exceptional transactions as well as your normal transactions and that the pricing formulas are flexible enough for your needs.
Tier Two is your description of your specific rental business. This could be defined by rental type (contractor, homeowner, event, costume), by volume, by customer type, by operational structure (single location, multi-store, heavy resale merchandise, distributorship), or by any other number of criteria. Tier Two forms the foundation for many critical aspects of the decision process, so be as specific as possible here.
Tier Three represents the special demands that your business will place on the rental software you choose. These fall into two categories: special operational needs and special customer needs. Contractor rental operations, for example, need strong preventive maintenance scheduling capabilities, periodic invoice processing and inventory substitution capabilities, to name a few. Dispatch management and reporting, and jobsite reporting, are also important considerations. The contractor rental customer may require weekly “out on rent” reports by job and periodic invoicing on long-term contracts, as well as other things.
Companies that rent, sell and service equipment should ask to see parts management capabilities during system demonstrations. Maintenance management, backorder processing and purchase order processing are also important to a rental/distribution business. General rental businesses may have fewer specialized requirements by nature, but there are always aspects that apply to Tier Three. Are you a multi-location business … or hope to be one day? Would you like the option of analyzing data different ways on demand? What is your inventory mix, and how do you prefer to formulate your inventory purchase decisions?
Tier Four is e-commerce. This is the bridge between the special customer needs and the special operational needs defined in Tier Three and — while it is not currently as pervasive as some predicted — it is here to stay. Why? Because the Internet is an added value for rental customers. It can provide 24/7 reservation capabilities, show customers what items look like alone and on job sites and consistently promote your business to the marketplace without draining your resources.
The operational time savings of e-rental can be enormous, and handled correctly it can be an excellent source of incremental revenue. Whether or not you allow e-reservations at the moment is beside the point. The value of Tier Four forces you to think about where you are in today's e-marketplace and where you want to be down the road. Those considerations should be part and parcel of any computer decision you make.
Additional food for thought
Now that you've defined your decision-making framework, what else should you consider when shopping for a system? For one thing, be alert to the software's ability to integrate any combination of your requirements in any environment, as needed. If your operation shifts direction, expands, or streamlines, is the software flexible enough to follow suit? Can you turn features off and on, easily change your rate structures, bring new employees up to speed, and accommodate the special requirements of new customers and new inventory categories? First-time system buyers who neglect these aspects can be left with an unforgiving system, quickly obsolete.
Experienced rental system buyers have their own pitfalls to avoid. These days, it's estimated that at least 50 percent of all rental system purchases replace old or unsatisfactory systems. Replacement-system buyers are just as likely to get blinded by the basics as are first-time buyers. And some rental operators focus too strongly on solving the failings of System No. 1 when they select System No. 2. This is akin to tunnel vision and can mask more serious flaws in System No. 2. While some comparison based on experience is healthy, each system purchase should be an independently structured decision process.
This article deals strictly with software capabilities, which are just one component of the decision. Rental computer systems are not a hit-and-run purchase. You are entering into a relationship with a system vendor, and must carefully consider the qualitative aspects of the vendor's financial stability, customer support structure, staffing levels, commitment to ongoing development, commitment to the rental industry and customer satisfaction track record.
Trust your own instincts when shaping your decision process. Mold your computer criteria to suit your rental operation's current and future needs. No one knows your business better than you do. This simple fact puts the power of wise decision-making directly in your hands.
Jack Shea is president of Solutions by Computer, Springfield, Mass.
Rentmaker
Rentmaker.com is a totally Internet based service provider. That is, anyone can use Rentmaker's software for free. The company breaks it down into two groups: demand — those who need to find equipment to rent; supply — those who have idle equipment. Requests are sent to those suppliers in the area. A supplier then gets online and uses the software to review the request and respond to it. In addition, a supplier can use the software to review any request, anywhere, for anything whenever. It is another sales channel for the supplier. The only fee is when the supplier actually rents something out to a renter found through Rentmaker.
Rentmaker is designed for all kinds of rental centers — from large national chains to small independent rental locations. Smaller suppliers can leverage Rentmaker as a virtual network of locations without having to lease a location, hire personnel or advertise.
Rentmaker allows rental suppliers to “view” what is being demanded across the board. Where once a rental supplier only knew what was demanded of their location, now, through Rentmaker, a supplier can see what is being demanded by city, region, state or country, improving the ability to invest in equipment wisely, price optimally and maximize utilization.
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Texada Software
Texada's ERP Software “TSI” is an enterprise business management system for the equipment rental industry catering to large multi-national and national rental companies with support for multiple languages and relational databases such as DB/2 and Oracle.
Texada Software developed RentOnTheDot Web-enabling technology. RentOnTheDot is Web-enabling software that allows rental companies and their customers to conduct business over the Internet including real-time reservations and advanced account inquiries.
The goal at Texada Software is not only to ensure a complete offering as it relates to the new technologies that come into the market, but more so to have a complete understanding on how these technologies will benefit customers. Having rental industry experience within the Texada organization has been paramount in realizing this goal.
Whether it be RFID tags, bar code systems, handheld contract writing devices, customized laser printed forms, or integrated GPS systems, Texada partners with its customers to help them understand how these technologies will benefit their businesses both from a bottom line and a technological advancement point of view.
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Solutions By Computer
Solutions By Computer systems are mission-critical rental management systems that provide comprehensive inventory tracking and analysis as well as complete transaction processing for rental businesses of every size and nature. The systems manage all aspects of the rental process as well as retail sales, parts inventory activity, customer billing and accounts receivable functions, operational management and reporting. Some rental operations are very specialized by inventory type and/or customer type and have unique business needs. Solutions By Computer systems are designed to address these needs through rate flexibility, non-traditional inventory classifications, user-changeable options, customized reporting, special documentation and a host of other capabilities.
Solutions' systems use the Internet in three different ways. First, its software uses the Internet as a communications vehicle to link system devices at multiple locations for a given customer. Second, if a customer prefers not to own their computer system outright, they use Solutions' software with the Internet to access a remote server that stores the database. All users need at the store is a standard PC browser. These customers use the software on a subscription basis, rather than buying it outright. And third, Solutions has developed EproNet software that gives rental businesses the means to offer e-commerce capabilities to customers without compromising the integrity of the system data. EproNet can operate on different levels; currently, most rental businesses prefer to use it as a 24/7 Internet reservations system that encourages interaction between customer and store before the rental is finalized.
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MTA
MTA is a fully featured Management Information System uniquely designed for the rental industry. The MTA System provides comprehensive cost, revenue and availability information on each unit in a rental fleet, allowing for the instant monitoring of fleet utilization, maintenance cost analysis and scheduling. This rental module is fully integrated with MTA's service, parts and financial management systems. Some features include recurring billing depreciation, PM scheduling and the ability to add items to a document at any time during the life of the rental. Labor, sales and miscellaneous charges can be placed on the same ticket as rentals. A history query capability also provides important detail on past rental agreements and invoices for any customer and/or any piece of equipment. Extensive management reports such as utilization reporting, lost rentals, rotation of equipment, service tracking, rent-to-sale conversions plus more is available. New features include an advanced fleet management system and a B2B engine to allow more efficient and effective communications between the rental company and its customers.
With a standard Internet Explorer browser, customers can access MTA's entire suite of application software. The rental company's customers can also access information about their individual accounts, inventory and availability, perform certain order entry functions, inquire as to accounts receivable and document images that are unique to them.
Circle 161 on reply card. RMI Corp.
RMI Corp.
Rental Advantage, from RMI Corp., offers a complete end-to-end software solution for companies who rent, sell and/or service equipment. Rental Advantage is a single software solution that offers “mission critical” functionality in accounting, rental management, quoting, order processing, operations management, parts & service management, inventory control, contact management, job costing, human resources and payroll and the Internet.
Rental Advantage's e-commerce solution is named Commerce Portal. The five main services Commerce Portal platform delivers are catalog management, sales and purchase management, self-service management, content management and role and activity management.
Catalog management gives customers and vendors customized on-line catalogs and unique offers using personal profiles. The sales management function automates order processing. Purchase management offers great potential for reducing purchasing costs (either services or items) by conducting auctions that a number of vendors can participate in. Self-service management allows customers and companies the ability to check the shipping progress of orders, check item availability, create orders and view order status, convert quotes to orders, assign existing orders to blanket orders and search and query data. Content management offers a fast and efficient way to maintain Web pages because portals are based on templates that companies maintain from within Rental Advantage. Role and activity management allows an administrator to manage role, activity and personalization settings through the use of a profile manager, and also allows the administrator to manage dynamic content and message management tools.
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Genisys Software
AlphaRENTAL by Genisys Software offers quotes, reservations, rental contracts and point of sale transactions that allow up to 65,000 lines per transaction, with up to eight lines of “on the fly” messages per line, plus up to 10 lines of preprogrammed messages per line. Genisys has two different types of work orders — internal (for your own equipment) and customer (if you are repairing theirs). Parts and resale inventory management are both built in along with full reporting on customers, all inventory types, service department and end of period. The system offers very flexible pricing schemes for both rental and resale inventory, with custom rates by customer down to the item level if needed. Genisys includes things most software companies charge extra for, such as purchase orders, nightly processing and credit memos.
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AbbottSoft
I-Rent II from AbbottSoft represents the latest in Microsoft Windows programs and will function on Windows 98 through XP. The program uses Web style interfaces where users can quickly navigate through its many functions and even use a touch screen monitor if desired. The ability to create rental contracts; repair orders, reservation and sales invoices in less than a minute; run end of month billing automatically; and track income, return on investment and tax obligations with a click of your mouse makes this program user friendly and a powerful solution for large and small rental stores alike.
Through June 2001 AbbottSoft will install its software on new IBM computers, test and ship everything for the normal price of the software alone. This offer is only available to readers of this issue of RER, and information is available at the company's Web site: www.abbottsoft.com/rer.htm.
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Alert
Alert Management Systems, a supplier of contract-writing software and technology consulting services to the rental industry, recently announced the release of Alert EasyPro for Java. With the integration of Java technology, Alert EasyPro's advanced software architecture has evolved into a combination of rental features and connectivity with other Windows productivity tools.
Java technology delivers enhanced document handling features. Rental transactions and management reports can be edited with a palette of Windows text formatting options, saved in a variety of formats (including HTML) and instantly emailed or faxed right from the desktop.
EasyPro for Java's new browser-based interface runs the user rental software application through a standard Web browser — thus allowing rental centers to extend the life of PCs on their network that may be running Legacy versions of Windows.
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Wynne Systems
RentalMan 7.0 is a versatile enterprise software system available to equipment rental companies. The enhancements and new features included in it will not only increase the efficiency of an operation, but also improve customer service and mainstream many day-to-day procedures. The software takes the essential data and makes it available anywhere, anytime, in real-time environment.
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Computer Ease
The Visual Cadol products are intended to provide cadol application programmers with the ability to take advantage of Microsoft Windows 95 and Windows NT operating system features. Visual Cadol provides a cadol based platform, which runs under the Win95 API. Application programmers can port their software to Windows with no changes to existing software. Once ported they can add Windows interface to their product through the use of standard Windows dialog boxes.
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RenTrain Inc.
RenTrain Inc. is an electronic publishing, Web hosting and e-learning company with an emphasis on the equipment rental industry. The company collects and electronically distributes safety, operation and maintenance information specific to the equipment found in a typical equipment rental inventory. Included in the company's value-added services is a set of Web design and Web hosting offerings for independent rental dealers throughout the United States.
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Point-of-Rental Systems
Since 1984, owners of two general rental stores have designed, tested and perfected the Point-of-Rental System. Nearly 500 stores use the system in single screen, multi-user and multi-store configurations from Alaska to South Africa. Reliable, fast and easy-to-use, the Enterprise version of Point-of-Rental runs on the latest Microsoft 2000 Server operating system. Features include Internet connectivity, storage of customer driver license images, automatic printing of instruction/safety sheet for item(s) rented and integration with QuickBooks and other PC accounting software.
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SmartEquip
SmartEquip provides customized information for every equipment user and every employee at a rental company. This customized support tool includes maintenance, repair, operations information (including technical diagrams, parts lists and safety information); customer support information, including intelligent equipment specifications guides, safety and training support; and electronic warranty support and tracking for manufacturers, distributors and equipment users alike. The software integrates with Wynne Systems' RentalMan, as well as a series of other business systems widely used in the rental and distributor market.
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