What is new in your software and technology?
Muzik: Sycor.Rental is built on Microsoft Dynamics 365 Finance & Supply Chain Management (D365 F&SCM), their "flagship" ERP, for seamless integration and real-time, paperless reporting. This powerful integration allows Sycor Americas to continuously adapt and improve our Sycor.Rental solution based on the equipment rental industry and our customers’ growth and needs.
Our recent, most exciting changes we have made to our Sycor.Rental solution in the past year have included enabling "quick scans" on our mobile app. Allowing users to quickly scan and go while picking up orders, and to complete check-in and -out inspections from mobile devices that increase efficiency. Another improvement is reworking how labor and time is recorded against orders allowing end users to manage costs, but also effectively bill labor for things like setting up or tearing down job sites. Beyond that Sycor Americas is consistently enhancing and improving existing functionality. For example, we continue to enhance Sycor.Rental’s integration with credit management and now provide the ability to capitalize repairs and workshop orders against assets.
Sycor Americas also has the following exciting features in development for upcoming future releases that will help cater to our various equipment rental customers’ needs:
- Field Service & Sycor.Rental
Equipment rental companies need to be able to maintain their assets while on customer sites, in unforgiving conditions. As a complement to the Rental Return App, Sycor.Rental is developing a new app that will enable end users to service and maintain equipment out in the field, when the equipment needs it most. We hope to introduce this to new and existing customers alike in the fall of 2024.
- Dealer Trade-In
Everyone is familiar with the concept of trading in an old car to leverage the purchase of the latest and greatest model. With Sycor.Rental we are building a seamless and process-focused system that will integrate processes with all rental functionalities. Need to manage trade-ins as credit to rental accounts? Trade-ins to assist your customer in the purchase of a new piece of equipment? All now on the way with Sycor.Rental.
What effects has AI had on your software and technology and what potential do you see going forward?
The AI boom has arrived and will only continue to intensify. We are seeing this through OpenAI, Google Cloud AI, and CoPilot by Microsoft. We see a heavy investment in AI in all of Microsoft's products. Already we have seen the power Microsoft has harnessed in providing advanced analytics for the average end user to drive business decisions. The road map within AI's capabilities is never ending, whether advanced uses in your business apps like Outlook and Excel or in seamless integration throughout Microsoft Dynamics 365 Finance & Supply Chain Management (D365 F&SCM).
How important is integration of all of your systems?
Integrating systems is really the backbone in providing up to date and relevant reports that drive business decisions. COOs and managers require real-time updates on the next tasks that need to be completed, such as where to place a fleet, when to market certain products, and how to preventively maintain your fleet. This is all driven by being able to connect your operational, financial, and asset management systems together in one solution. With Sycor.Rental, built on Microsoft Dynamics 365 F&SCM, this integrated connectivity is all in one place. The financials of your inventory are married to the operational movements of rental goods. The systems are enabled to then consume your IoT (Internet of Things) and telematics device information to put together a complete picture of your business. The comprehensive abilities of MD365F&SCM in optimizing business operations is no longer a choice, but a necessity for equipment rental businesses to remain competitive and profitable.
What new trends in technology do you expect in the foreseeable future?
Continued advancement in the AI space will be the fastest growing technology. We at Sycor Americas foresee the advancement of AI as honing the focus on predictive analytics, allowing companies to better plan supply chain forecasts, market trends, and be better able to react to business needs proactively, maximizing profits and reducing losses.
What are the most important contributions telematics makes to a rental company and how challenging is it to integrate telematics with a rental management operating system?
Outside of what you have mentioned, telematics today can really provide discrete information on the operating efficiency of your fleet. Information like running temperature, output readings, usage readings, are all now easily captured. For a rental company this not only allows you to provide reliable maintenance but can even introduce entirely new ways to bill customers for rentals.
Typically, this sort of integration of your rental management system can be complicated, and more importantly, expensive. With Sycor.Rental, we have built in IoT dashboards. This provides the backbone and infrastructure needed to connect with telematics providers and turn simple readings and communications into actionable events without the headache of a customized solution.
Telematics needs to be able to provide a business with the information that will make their companies run effectively and efficiently. This means providing information such as:
- Geographic locations and geo-fencing
- Output readings such as voltage/wattage for a generator
- Operational usage like run-time or engine hours
- Preventative maintenance measures, like error codes or alerts
What are the main concerns and issues customers in the rental industry are asking about in terms of software being able to solve their problems and help them operate more efficiently? Anything in particular that rental staff are asking for?
The questions we are frequently asked center around operational reporting of assets. How can an equipment rental business see what is over/underutilized? What has been sitting in the rental yard? What is not providing a ROI in the appropriate period? These are a small portion of the outputs a company expects and needs from their rental management system to be able to maximize profits. It is also a core business metric Sycor.Rental focuses on solving.
