Hit business growth goals by automating your rental business

29 June 2022

Hit business growth goals by automating your rental business

The popularity of equipment hire businesses is on the rise, suggesting fast growth for the industry.

As more and more people realise the cost-efficiency of hiring equipment over purchasing them, hire businesses will quickly face the need to move on from the traditional, paper-based methods of doing business.

Thanks to rental management software, hire businesses can modernise their operating models and automate their tasks to meet burgeoning demand; with companies specialising in equipment rental services unleashing their full potential with the ease of automated operations.


Simplify equipment and inventory management

Accessibility to inventory and accurate data regarding it is vital to ensure the smooth operation of your rental business, but at the same time, equipment and inventory management is one of the most time and effort-consuming tasks in rental management.

To remedy this effectively, you can install a customised software solution and simplify the management of all the items in your inventory.

Centralised inventory management also enables equipment hire business owners to manage hire equipment from anywhere, and even through their mobile.

As a result, owners can store, manage, and track all relevant details, including insurance details, rental status of equipment, customer details, and availability of items in real-time.


Establish accurate asset tracking

In an equipment hire business, your assets are the backbone of your company. Being able to track your assets and knowing their exact location and condition allows you to exercise better control over them and the rental process.

Easy asset tracking can be made possible with automation software.

Automation allows companies to locate their assets with GPS systems, observe equipment utilisation, rental history and maintenance.

Real-time tracking also enables you to repair and service equipment as needed, making sure they are ready to be sent out when needed. By looking at data trends for your rentals, you can align these processes with the forecasted demand for your equipment.


Simplify equipment booking

A simplified booking process makes your customers happier and increases the credibility and reliability of any business.

With automation software, your rental company can provide easily navigable portals for customers—through which they can book equipment and services they require.

Additionally, your customers can check the availability of equipment before booking and access additional information about the items they need.

By empowering your customers to complete the initial stages of the booking process themselves, you make work easier for your team, and establish a convenient rental process that saves time, money, and energy across the board.


Automate invoicing and streamline billing

A customised software solution can make revenue collection for rental companies more coherent.

For example, when equipment is rented out on a subscription basis, customers can choose a subscription option they prefer—weekly or monthly payment options, for example—and the payments can be deducted regularly.

Instead of making your team go through repetitive tasks, you can allow a tech-powered system to complete invoicing, payments, and recurring contracts.

You can make this process smarter by using an online payment portal to send automated invoices to customers when payments are deducted from their accounts.

By using customer data that’s made available online thanks to automation software, companies can also offer discounts with ease, build long-term relationships with customers, and market other products to them.

This means utilising online payments backed by an automated system adds value to business transactions and makes them more effortless for both you and your customers.

Increase the reach of your business

An online booking system allows your rental company to access customers across locations and around the clock instead of limiting your services to one geographical location or regular business hours.

This way, more people can book equipment and services from you as a result of the accessibility and ease you bring them, introducing more customers to your business and generating more revenue.

If you have more than one branch of your company in multiple locations, automation also resolves the hardships of handling them all by creating easy workflows for the management of businesses across locations.


Automation can empower your hire business to offer the best service with more ease

Simplified operations won't always guarantee great service but with automation, it almost always does.

You can now make your operations simpler and release your team from repetitive and time-consuming tasks without compromising the quality of your services—all you need is automation.

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To discover how MCS Rental Software can empower your business, call us on +44 (0)1628 828000 or use our enquiry form.

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