Rental Software Solutions – The Cost of Doing Nothing

Friday, 1 February 2019

Rental Software Solutions – The Cost of Doing Nothing

When you are exploring investing in a new (or updated) rental management software solution, there are so many factors to take into consideration. 

You’ve done your research, made a shortlist, evaluated those software suppliers and now all you need to do is make a commitment to choose one of them. But something is holding you back. Do you really need to change your software or processes at all? Sometimes, it might feel like the easiest option is to remain exactly as you are, but the question is – what is the cost of doing nothing?

It’s natural to debate when it comes to new solutions.  You may have the initial fears of costs and how easy implementation will be, but it’s crucial to focus on your long term goals and the whole reason you started this project in the first place. Ask yourself, “what is it costing me in lost revenue to continue as we are?”. When you factor in the costs of the investment against the revenue or time you will save, you will understand why your purchase will be worthwhile. If you’re concerned about implementation, make sure you research your vendor, read testimonials, case studies and speak to their customers. This way, you can have peace of mind that you’ll get the support and service you need now and in the future.

So why are you looking for a new solution? 

Fragmented business systems
When you have a variety of different systems, none of which talk to each other, the duplicated manual data entry incurred is time consuming and error-prone. Over time as your business grows, the amount of data entry is only going to rise and this is going to take up more and more of your time which you could be spending doing other, more worthwhile tasks. 

When your disjointed solutions aren’t working together, it can also get increasingly difficult to share data not only with your colleagues but also with customers and suppliers. When all your business information is kept in different places, there’s no quick solution to communicate effectively and keep everyone in the loop. It’s hard to maintain a smooth workflow, clients are kept waiting and your colleagues left in a muddle. When you have just one integrated solution to manage your entire rental business, all your data is kept in one place for your team to access with ease. 

Falling behind the times
There may be hidden consequences of ‘doing nothing’. There may be a whole host of new technologies and innovations you could miss out on. From working on the move with mobile devices to crystal clear business reports, the benefits of a modern innovative rental software solution will touch every area of your business. 

It’s highly likely that your competitors are already starting to benefit from emerging technologies, taking giant leaps ahead of you. With an investment in new solutions, they can work more efficiently and provide excellent customer service for their customers. Is it really worth falling behind them by doing nothing and postponing an important software decision? Try and remember what your original goals were throughout the process and focus on the long-term benefits that you wouldn’t otherwise be able to achieve.

Perhaps you already have a software solution that just isn’t keeping up with your requirements and its poor performance is starting to hold you back. Development might be slow, support might be unsatisfactory or non-existent, you might have outgrown a solution that once suited your needs 5 years ago. Changing to a futureproof scalable rental software solution means that you can make one Investment decision that will secure you the perfect software solution and an ongoing partnership that will last you a lifetime.

Declining customer service
When running on spreadsheets or generic software packages, it can get increasingly difficult to keep up with demand, track of your assets and provide slick customer service. As lead times increase and jobs get missed, not only are you compromising on your customers’ experience but also your future prosperity as customers choose to go elsewhere in the future. By using a modern advanced software solution to run your business, you can make sure that it is easy for your clients to do business with you and make sure they keep coming back.

The main benefits of taking the plunge

Innovative solutions
Good software vendors will be constantly working to develop new ideas and functionalities that will make your life easier. You’ll be able to take advantage of solutions you never even realised you needed. 

Fantastic growth and support
If you currently have no solution in place or your current system has become obsolete, getting any kind of help in using your software or growing your business can be a challenge. With a shiny new system, not only will there be a plethora of new features for you to get using to help improve your efficiency and productivity, but there will be a team behind it that are there for you to help your business grow and thrive. 

Future-proof investment
Instead of worrying about having to try to keep up with the modernisation of the hire industry alone, with a software solution, you will have a technology partner that will continue working with you and give you the solutions and business innovations you need to take the next step forward and stay ahead of your competitors. 

On balance, you should find that the cost of investing in a rental software solution far outweighs the cost of doing nothing. In the long term, you’ll be free to grow your business, achieve more and stand out against the crowd. 

MCS, the rental software specialist, has written a handy buyer’s guide to help start you off on the right foot and start your journey to technological transformation!

Download your guide now. 

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