4 questions to ask when choosing a rental software solution

07 March 2023

4 questions to ask when choosing a rental software solution

Business is booming, and your company is expanding. The time may have come to invest in your first rental system, or perhaps you are looking to upgrade your current system to a solution that can better manage your business as it grows. So what things should you consider?

Should I choose a custom-fit solution or an off-the-shelf rental management system?

Custom-fit will mean you have the complete functionality you require – nothing more and nothing less. You would expect to obtain maximum usage of the functionality you have paid for, as it is exactly what you need. However, a tailorable system also has downsides. It comes with a very high initial outlay, and it is essential to ensure that you get a high enough return on that investment for your business and that those costs are sustainable. Having a solution designed for you is also time-consuming, and you will need to consider that there will be no immediate solution to your current business needs.

On the other hand, a specialist rental management solution provides a much shorter start-up time at a significantly reduced cost. One of the main benefits of this option is that you don’t own the system. It will continuously be developed, maintained, and supported by the provider as a fully managed and proactively improved solution, and have industry best practices built in. Although you may risk paying for some functionality you don’t need, most providers are now flexible enough to adapt to meet your specific requirements. You may also discover useful functionality you didn’t even realize you wanted.

Will the software be supported and continually developed in the future?

The rental industry is constantly evolving, so your software solution must be too. You need to keep up with the latest changes in the rental sector, whether that’s how your customers want to do business with you or legislation changes that mean you need to work slightly differently. A software provider committed to future development with regular new releases will help ensure you’re never struggling with an outdated software solution that worked five years ago but is now showing its age.

Is there a good support team that will be there to help you when you need it?

While hopefully, you won’t need too much help from support, there must be a friendly, helpful, and knowledgeable team there when you need them. It’s not just support, though. Is there a project team to help you get started and up and running on the software? Support comes in many different facets, and your provider must be a partner for your business rather than an unhelpful supplier.

Will it require lots of work, and is it worth the effort?

In short, yes and yes. It will take some time and effort from you… BUT that’s not to say you would be on your own. If your chosen software supplier has a dedicated project team, you’ll be guided along the way with regular catch-up meetings and support whenever needed. Also, just think, once your rental software solution is up and running, you’ll be saving time, increasing revenue, and working smarter.

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