Participants:
Max Muzik, lead consultant, Sycor Americas
Joe Lewis, CEO, Fame Rental
Kara Longmire, co-president/CEO, Alert Rental
Josh Lewis, president, MCS Rental Software
Ben Cox, chief product officer, Texada Software
Matt Hopp, general manager, Intempo Software
Ara Eckel, director of product management – connected solutions, JLG Industries
Kenneth Kimura, director, product development, Wynne Systems
James Morley, senior vice president, global product management, Point of Rental
Software
Tony Nicoletti, CEO, DPL America
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 site, 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.
Joe Lewis: We continue to expand our platform’s web presence (FameAir) to connect with – and do more – for rental businesses’ employees, customers, and vendors. We accomplish this by seamlessly connecting with integrations from best-of-breed service providers such as Avalara (for sales tax management), Century eBiz (credit card processing), Rouse (rental performance analytics), SmartEquip (maintenance lifecycle management), Samsara (telematics), Mapbox (route efficiency), Insight (advanced reporting), and others. This approach allows us to scale our platform from smaller, less sophisticated rental companies to large and intricate enterprise-level companies.
Longmire: We’re excited to announce the release of AlertSign, our newest electronic signature feature. Alert users can not only capture digital signatures, but send payment links, and accept credit card payments. The links can be sent from Alert’s Document Center, from the ticket itself, from Dispatch, and to the yard. In addition to AlertSign, Alert Rover can inbound/outbound tickets and take and store photographs.
We’ve also created a new credit card processing fee feature so that our rental stores can easily recoup some of their credit card fees, as well as a feature to seamlessly schedule future rates.
Josh Lewis: Our software continues to improve, thanks largely to customer ideas and feedback through our MCS User Group. Our users share their ideas and then vote on changes, which leads to incredible improvements.
Some of the latest updates include a revamped Resource Mobile app for iOS and Android. Now, delivery drivers and mobile techs can use a phone or tablet (instead of paper) to capture pictures, signatures, notes, and more. Meanwhile, all other teams can see completed and upcoming tasks in real-time.
Another exciting addition is our new equipment scanning feature, eScan. By scanning the QR code on the machine, both staff and customers can access important documents such as user manuals, specifications, and certifications in one digital place.
Plus, we’ve expanded our Telematics Hub to include Geoforce and Samsara, two of the industry’s top providers, and further expanding our list of integrated solutions.
Cox: At Texada, we're revolutionizing the rental industry with our state-of-the-art Software-as-a-Service (SaaS) platform. Being fully cloud-based, our software is not only easy to use and manage but also allows us to continuously innovate and enhance our offerings.
One of our most exciting developments is the launch of our cutting-edge rental contracts management solution. It's automated, intuitive, and the feedback has been overwhelmingly positive. Our mobile applications have also seen significant upgrades, extending their value to rental team members who interact most with customers and equipment. We've introduced a groundbreaking feature for in-yard returns, which eliminates cumbersome paper processes and streamlines equipment delivery, pickup, and service management.
Our e-commerce product, Gateway, is another game-changer, enabling rental companies to set up online storefronts effortlessly. This innovation is perfect for small-to-mid-sized rental companies looking to expand their business through e-commerce.
Texada Pay is another standout feature, seamlessly integrating card payments into the Texada platform. Customers have described it as "game-changing," as it simplifies transactions and drives business growth.
Lastly, we've fortified our core platform technology, achieving ISO and SOC compliance, ensuring top-tier security and reliability.
Hopp: InTempo has launched several new products over the last 18 months. InTempo MX (our Connected Asset solution for integrated telematics) is now available with full “due for service” tracking functionality, as well as the ability to pass data down to the end equipment user. InTempo CTX (our Connected Transport solution for integrated route and load optimization) is a few months away from general availability, bringing the first AI-driven dispatching platform directly to the equipment rental market.
And lastly, we’ve considerably upgraded the analytics experience with the launch of Reporter 5, which offers more customizable dashboards, more configurable templates, and enhanced visualization options. These technologies continue to help independent rental stores run their businesses day-to-day while working towards sustainable long-term growth.
Eckel: JLG embarked on the journey to bring telematics and IoT (Internet of Things) in-house with our brand-new ClearSky Smart Fleet offering, which we introduced in the summer of 2023. It's our third iteration of Clear Sky, but there are a few significant transitions in us doing this from a strategic perspective. We launched the JLG IoT platform with more than 20 distinct features, of which only one is telematics. So, we're really changing the conversation about what technology looks like on the job site.
First, we're now offering standard global connectivity across most boom lifts, telehandlers, and scissor lifts. Second, we have introduced industry-leading two-way connectivity, so it's no longer one-way communication — or basic telematics of the past or old. Third, we're very pragmatic about the value that we deliver through digitizing daily processes for our customers because we understand the return on investment is very difficult to quantify when it comes to a technology strategy, specifically telematics or IoT.
With the launch of ClearSky Smart Fleet, we immediately focused on two things that people could touch and feel immediately: 1) automating manual processes because we know people who do things manually, there's a margin for error, just human error, it happens, and 2) giving our customers the efficiency of time back in their days. So, on average, if it used to take 45 minutes for a branch manager to find a JLG machine in their rental yard or a service tech looking for the machine on the job site that needs to be fixed or serviced, now it takes less than one click of a button. This is the classic scenario of reducing downtime and increasing uptime but with a tangible nature.
Developing our ClearSky Smart Fleet solution in-house means our customers now get to fully leverage JLG’s sales, service and support. We are also now offering a platform that genuinely solves challenges for aerial lift equipment, which are specialty machines within the industry with unique problems. For example, something as simple as machines sending data if the ignition is on/off — 90 percent of the time, access equipment is used in an off state. Operators get to height, turn the machine off while doing their work and then turn it on again to get back down. So, these are the considerations we’ve accounted for in ClearSky Smart Fleet.
We also looked at other value we can deliver through seamless business integrations. For example, we can send machine information to our customers with our OEM data-rich API feed.
One last transition we focused on was moving from the physical to the digital world. How could we digitize what used to be a physical handheld piece of hardware through something like a mobile app? A great example is the Bluetooth analyzer available through the ClearSky Smart Fleet application. Our customers no longer need to carry the handheld analyzer and cable; they now have all the same usability and functionality through their phones.
Kimura: We have recently made two major additions to RentalMan. First, we introduced Field Service support by enhancing the integration between our Logistics and Service applications. Now, field service teams benefit from a fully digitized solution that improves communication, visibility, and scheduling throughout the service process.
Our second addition is IntelliSource. Recognizing the common challenge of finding equipment to fill reservations, we developed a solution that automates this time-consuming process. Using a central reservations dashboard and a customizable rules engine, IntelliSource streamlines equipment sourcing based on each rental company’s specific processes.
Morley: We’re meeting rental businesses where they’re working - which is everywhere.
We’ve added a ton of mobile functionality - we’ve replaced rent-ready tags, the ubiquitous little tags throughout the industry, with a digital version in Ready Tag. This digitizes the entire item-return-to-rent-ready process, so anyone can see which items are ready without having to walkie-talkie, text, or walk out to the lot themselves to see which items have been inspected and deemed rentable.
Work Orders allow technicians to quickly diagnose and document problems in the field, speeding up the parts acquisition (and overall repair) process. This works both with internal equipment and customer-owned equipment. QuikLink speeds up ecommerce processes; you send a link to a contract, and your customer is able to see the contract details, sign electronically, manage payments, and even see documentation for the items they’ve rented.
We’ve overhauled Essentials’ ecommerce processes, bringing them in-line with B2C giants’ processes. It’s easier than ever for consumers to find items, order items, add additional items, and even check out. Our early users are reporting a 40 percent lift in add-on sales so far, so it’s had a pretty big impact.
We acquired Record360, the world’s leading inspection software, and have started integrating it into our RMSes, so people can see their item inspection histories. Those integrations will continue to deepen, and we’d like to integrate Record360 with non-Point of Rental RMSes as well - it’s a great tool and we believe renters should have this technology regardless of what rental platform they’re using.
And finally, everyone loves talking AI: Record360 is using AI to help with its blur detection system, which will help ensure you’re only getting clear photos and video for your inspection records. We’re empowering people to use AI in creating unique, engaging product descriptions on their websites - just enter the product manufacturer and item name and let it write a description for you. This’ll help website SEO and your customers to understand more about what you have to offer.
Nicoletti: On the software front we've introduced OEM aggregation, which allows our platform to pull in pertinent data such as runtime, location, fuel burn and idle, from factory installed and other telematics systems. On the technology front we've just launched the AssetView Stealth, which is our fourth battery-powered asset tracking solution. The Stealth has an industry first tamper-detection feature, which immediately notifies the owner and provides its location if it is removed from its place of install.
What effects has AI had on your software and technology and what potential do you see going forward?
Musik: 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).
Joe Lewis: We are realists. The current and future potential for AI is mind-blowing. This industry needs to focus on what we can do now to be prepared for business AI in the next two or three years.
Enterprise companies are now focused on getting their data ready for the future because, if they are not ready, AI will be virtually useless for functions such as analytics. At Fame, we are already incorporating AI into our business technology platform (BTP) for operations and marketing. For operations, think of it as robots that capture forms (POs, SOs) from customers and vendors to create internal transactions – no data entry and a better experience when they use Fame and FameAir.
Longmire: The use of AI is everywhere, and this is a conversation that we have been having with our team and our clients over the past few years. The challenge in the rental industry is that there are so many moving parts that impact fulfillment, scheduling, deliveries, etc., that it is difficult to take the ‘person’ out of the equation. That’s not to say that tools that leverage AI aren’t already being used in everything from GPS and routing to automated responses and processes from websites -- it’s already here.
Josh Lewis: AI continues to be a hot topic among our tech teams. Integrating AI into our software is like taking automation to the next level. We’re talking about improved reporting, powerful business intelligence, and predictive analytics for our customers to run their business. We’re also looking at opportunities to enhance the overall experience for their customers. The possibilities seem limitless. However, we cannot forget what truly makes our rental software successful: it’s a people-first solution. Rushing to incorporate buzzword technology could risk compromising the entire user experience.
Cox: AI, particularly Large Language Models, has been transformative for us. Internally, we've harnessed AI to boost productivity, and soon we'll be launching an AI-driven feature that automatically generates product descriptions for online equipment listings on our e-commerce platform.
We're exploring computer vision for damage identification, advanced data tools in our Analytics product, and dynamic pricing. These innovations will empower our customers' teams to be superheroes for their clients without replacing human touch.
Our perspective on AI is that its true value lies in deeply understanding our customers' unique needs. Just like any other software capability, AI's effectiveness depends on its application to solve specific problems tailored to heavy equipment businesses.
Hopp: AI has the potential to make the industry’s most repetitive, labor-intensive tasks easier over the coming years. Take, for instance, dispatching. Today, most rental companies have to manually review the next day’s planned deliveries and pickups, decide which drivers should handle each stop, and plot out the most logical order in which each driver should hit each jobsite. In the morning (and throughout the following day), that same team has to account for last-minute changes, communicate with drivers as unexpected challenges arise, and keep customers in the loop if their expected delivery time changes. What’s even harder? In many smaller rental businesses, the operations team in charge of this process also has non-dispatching tasks to keep up with, which means it’s often difficult just to keep their heads above water, much less invest the time required to optimize the process end-to-end.
With AI, however, algorithms can deal with prioritizing jobsites in a logical order; grouping equipment by size and weight on the corresponding vehicles; and even responding to real-time traffic and weather delays. Last-minute changes can be accommodated in seconds without having to manually re-work the entire day’s plan, and companies can reduce wasted fuel, idle time, and reliance on third-party haulers with very little effort on their part.
We see quite a few additional opportunities in the years to come, including AI-driven pricing algorithms and machine leaning for data analysis. However, it’s important to be aware that these technologies will change rental jobs rather than replace them. As technology streamlines more and more repetitive tasks, employees will be able to shift their focus on the analytical work that computers aren’t able to handle. Sales teams can work on building stronger relationships with their customers; finance teams can focus on improving their cash flow and making the strongest possible investments for their unique market; operations teams can identify better ways to streamline their day-to-day activities while providing a better overall rental experience. These tasks are highly unlikely to ever be taken over by AI, so finding ways to shift the mindset now lets companies get a head start on the next round of technological advances in the rental industry.
Eckel: The first thing to clarify is the difference between AI and generative AI. Artificial intelligence isn't a new concept; for example, JLG has been using AI through data science and various coding methods for a while now to help make more data-driven decisions as an organization. It has helped us ensure we offer the right mix of products to market that address customers' needs and align with their jobs while prioritizing safety and productivity.
As we look at the world of generative AI, we're only scratching the surface of its capabilities. For example, we are building a solid foundation for deploying generative AI solutions by leveraging basic AI functionality to revolutionize our Assisted Tech Support service with advanced Interactive Voice Response (IVR), a Virtual Assistant (VA) and Voice-To-Text (VTT) transcription. Looking ahead, we will leverage AI to analyze our extensive library of historical case summaries, knowledge articles and technical documentation to help us answer questions and resolve issues.
Another example is that as the world becomes a stronger global economy, and we see a changeover of new people coming into the industry who may have different language barriers, we can use AI in conjunction with Neural Machine Translation and human post editing to efficiently translate into more languages, bringing a vast time benefit to the market and cost-benefit back to OEMs.
By integrating these technologies, we enhance the efficiency of our support services and empower our customers with efficient, accurate solutions.
Kimura: It’s been interesting to see how people in the industry feel about AI. Wynne customers have a mix of emotions about the topic. Some are gung-ho about it. Others are cautious about it.
Wynne is absolutely engaging on the topic. Who isn’t? However, we’re being methodical about it. We want to make sure we are going in the right direction, producing something beyond the hype, and making a meaningful impact on rental businesses.
We challenge every product manager across the RentalMan Suite with presenting some use case for AI in their solution. Part of this challenge is to focus on the places where it’s going to have the most impact for customers.
The immediate application is automation. This will likely be working behind the curtain, supplementing the existing RentalMan Suite. The next step will be toward decision making via intelligent user assistance that guides them to the right decisions. Customer-facing applications are very viable too in roles such as helping them find the right equipment for their job.
Morley: AI has exploded the number of opportunities available for adding functionality to software and accelerated the ability (and expectation) to build those features. We’re taking a bifurcated approach with AI:
First, we’re focusing on our customers’ current needs and building tools that can make an immediate impact for them in three areas.
- · Increase quality: Record360’s AI Blur detection helps ensure that inspections are meeting standards BEFORE an issue arises.
- · Increase revenue: We’re using historic purchasing trends on our ecommerce sites to suggest relevant items to consumers, allowing rental stores using Point of Rental to provide an Amazon-like experience.
- · Increase awareness: Most rental stores don’t have professional product description writers on staff. Consumers are more likely to select items when they understand what they’re getting. Our AI allows users to build out professional descriptions that drive online rentals.
Second, we’re exploring long-term, big-impact solutions. We hold hackathon events, where our developers can set aside present obligations to focus on new features that can build what the future of rental looks like. We’re always looking at how we can enhance customer experience, optimize inventory management, provide better analytics and insights, and automate processes, and now AI is a tool we have at the ready.
How important is integration of all of your systems?
Musik: 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, 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.
Joe Lewis: There is, and always has been, a difference between “integrations” and “interfaces.” Fame’s technology platform houses all of a rental business’ pertinent data in a single database. Every transaction is updated in that database in real time, providing one version of the truth. That’s integration.
Disparate systems that “talk to each other” are interfacing, which results in multiple versions of the truth, which is confusing. Most importantly, because the future use of AI depends on accurate data, your data must be in one place, well structured, and accurate.
Longmire: All of Alert’s systems are inherently integrated. Alert is generally agnostic towards outside technology such as telematics and integrates easily. We also have integrations to other specialized software packages such as Rouse Analytics, GPS for dispatch, CRM, multiple accounting packages, RFID, and much more. Integration simplifies the way Alert users can use the system, and any time we can reduce friction and simplify processes for our clients we leverage the opportunity.
Josh Lewis: Rental companies tend to focus on day-to-day operations and do whatever they can to keep things running smoothly. If they’re not careful, they can implement multiple workaround solutions, which leads to a growing list of systems and logins to manage. The real selling point of our ERP rental solution is having all data streams and processes in one place—a single solution login instead of juggling dozens at a time. Our vision is to provide a comprehensive rental solution that integrates with other non-rental, best-in-class solutions. It’s crucial.
Cox: Integration is at the heart of our strategy. Our open API boasts thousands of endpoints, and our partner program includes dozens of companies, with more joining every month. We recently established an Integration Factory within our technology teams, dedicated to developing both external partnerships and internal product suite integrations.
Hopp: The importance can’t be overstated, honestly. In theory, it’s great to have one system as the “single source of truth” – but it’s also highly unlikely that a company will be able to use only one system for everything they need. (If they do, they’re typically sacrificing functionality for the sake of simplicity, which can end up hindering them in the end.)
Let’s take Salesforce as an example. Not every organization needs to use Salesforce, but it is one of the most commonly used software systems (especially at the enterprise level) for a reason. Integrations allow companies to use the point solutions that suit their needs the best, while still passing data back to their core rental software in real time. As long as data is passed in real time – not just once or twice a day – this lets them get the best of both worlds: critical functionality for each of their niche needs, and full visibility within their base rental software.
That same concept is why we continue to build partnerships with established partners in the rental space, including Wise Systems (the base technology on which we built InTempo CTX.) Rather than re-inventing the wheel, we’re focused on making the wheel better for rental companies. Users get faster access to much-needed technologies and get to skip much of the costly, time-consuming “trial and error” process.
Eckel: Integrating systems is critically important to be successful. If organizations don't have integrated systems, it could get in the way of their ability to scale as growth occurs. A significant effort at JLG through our connected and digital strategy is to create a connection between our physical and digital products and experiences so that one consistent data thread ties everything together. We want stronger data fidelity, increased automation, and improved efficiency through that interconnectedness.
By integrating our systems, we can provide our customers with seamless business integrations and partnership opportunities — while scaling at the rate that users need us to.
Kimura: System integration is extremely important for rental companies, especially at the enterprise level, where a company may have a large landscape of different systems. Having the right information at the right time is a necessity for individuals to efficiently accomplish their tasks and even automate some of the time-consuming, manual processes. Proper integration makes these automations and efficiencies possible.
Since this is such an important capability to rental teams, we’re continuing to integrate our solutions with one another. The focus of many of these integrations is on supporting cross functional roles in rental organizations by providing users with a “single pane of glass” to efficiently and productively accomplish their tasks throughout the day.
Earlier, we talked about the new field service capabilities made possible by new integrations between our solutions. One integration example that’s making this field service capability possible is the automatic transfer of field service tasks between Service Solution and Logistics Solution.
Wynne also has a long history of integrating RentalMan with outside applications as well. This year, we’ve completed an integration with Samsara. There are a few payment providers, a service application, and another telematics integration currently in the works as well.
Morley: We strive to be the best software available for managing rental operations. But there are a ton of great software solutions out there for accounting, for example. For payments. For customer relationship management. For telematics. For managing tax rates.
That’s why we do our best, with a public API, to integrate with leaders in those other aspects of business, because that gives our customers the ability to have the best of all worlds when they’re managing their business.
Nicoletti: Integration in today's world is highly important, as it allows customers to utilize best of breed across different applications but still have management through one platform. We work with this both ways. For customers that have factory installed telematics systems we can bring that data into our platform so they log into our software and see all their telematics in one place. On the other side of the coin if they want our telematics data into a legacy system or alternate software package, we have a variety of API to make it available.
[Editor’s Note: Panel members also talked about future trends in technology, the most important contributions telematics makes to a rental company, what rental companies are asking for in software, and more. Part 2 will be published in one of the upcoming editions of RER Reports.]