The equipment rental industry was not the most technologically advanced out there. Quite the contrary, inventors have taken the time and invented cost-effective solutions as time progressed. Thereby, technology has made an impact so profound in the industry.
Technology has drastically changed the operation in the industry. This phenomenon has increased in recent years. Many tools are readily available, and investing in the appropriate tool has yielded results.
The tools assist in better management of the operations in the equipment rental industry. For instance, the tools have improved logistics, mobility, asset management and access to analytics.
The tools have ensured the functioning of the industry like a well-oiled machine. Technology has also prevented the underutilization of equipment, reducing maintenance and repair costs.
This article looks at the impact of technology on the equipment rental industry.
1. Enhancing the operations
Technology enhances operations by giving you a detailed overview, repair and maintenance schedule.
A detailed overview of the equipment
Modern technology gives a detailed overview of the equipment by clicking a button. As a result, you will know the equipment is in high demand in the market and based on the information, you can predict future demand.
Picktime is a cutting-edge equipment rental management software designed to streamline and simplify the process of renting out equipment. It offers a comprehensive view of the equipment available in the inventory and the equipment that has been rented out. The software also provides real-time insights into the market demand for the equipment, enabling users to predict future demand.
Picktime organizes and manages the rental schedule, providing information on who has rented the equipment and what is available in the inventory. This ensures that the equipment is always accounted for and that no double-bookings occur. The software also sends automated reminders over email or SMS to keep customers informed of their rental schedules, which helps to improve customer satisfaction.
In addition to its scheduling capabilities, Picktime also integrates with payment gateways, allowing for seamless and secure payment processing. This makes it easier for customers to make payments and for the rental company to manage its financial transactions. Overall, Picktime is a comprehensive and user-friendly equipment rental management software that helps rental companies streamline their operations, improve customer satisfaction, and increase efficiency.
Repair and maintenance
Maintaining the equipment is crucial to keeping it in good shape and improving its life. However, the repair and maintenance schedule should not limit potential customers’ availability.
The technology assists you in reducing downtime by enabling you to plan the repair and maintenance schedule. As a result, you can avoid any stress on your business due to the non-availability of equipment. You can keep your customers from going to your competitors.
Storing spare parts
The technology assists you in storing the commonly needed spare parts of the equipment. You do not have to stuff all the spare parts you may not otherwise require in the inventory. As a result, you can reduce the overall cost of running the rental operations.
2. Logistics
The technology assists the equipment rental industry in avoiding any time loss due to transportation. Therefore, operations are more efficient.
Here is how the technology assists you;
Routes
The technology assists you in mapping alternative routes in case the usual way is time taking. That will be beneficial if the equipment that requires transportation is highly delicate. That way, you can avoid any time loss due to unforeseen circumstances in the usual rote.
Making plans
The customer sometimes would require the delivery of complex and delicate equipment. As a result, you may have to plan the route for an effective delivery route. Not only that, but you would also have to make the necessary arrangements.
The tools available in the market assist you in planning the routes and making necessary arrangements. By doing so, you can avoid the hassles and make the delivery promptly.
Timely delivery
Besides plotting, the best route to deliver the equipment is timely delivery. The technology avoids any redundancy and assists the equipment rental industry in formulating a plan to deliver the equipment to diverse locations on time.
3. Easy access
Cloud based technology assists all the existing industries immensely. The technology is easy to use.
Easy installation
Cloud based technology is easy to use and install. Furthermore, you can also integrate any third-party services with ease. The major complaint from users is the complexity of the technology to use and understand.
However, you do not have to be an expert coder to do that. You also do not have to upgrade the existing IT infrastructure to install all the software. That saves the equipment rental industry valuable resources.
Updation
You have to update the technology from time to time. Otherwise, it will expose the equipment rental industry to unwanted risks. That is one of the reasons why businesses do not want to use technology.
Cloud-based technology makes updating the software and makes the equipment rental industry secure.
Storage
Cloud-based technology is relatively easy to store. For instance, the secure communication channel within the software communicates with different devices in real time. Transferring information becomes easier as a result.
That, in turn, makes the equipment rental industry’s operations run smoothly.
Run the industry like a well-oiled machine
The technology improves efficiency for sure. The ease of access makes the equipment rental industry run like a well-oiled machine.
Not everyone associated with the industry has to monitor the functions. For instance, you can monitor the operations in real-time. However, you can also limit who has access. You can do so depending on the role of individuals in the processes.
That will make the operations secure and information-sharing efficient.
Update anytime
The technology allows you to update information from anywhere and anytime. For instance, the staff working in the field can update information about the equipment instantly. As a result, you can deliver all the services your customers require on time.
Easy to use on any devices
Cloud based technology works on any device. As a result, the equipment rental industry does not have to invest in specialized equipment to carry out the functions. That will be a significant relief on the resources.
Furthermore, the staff in the field can select the device they want to use. That also saves precious resources.
4. Avoid under or over-utilization of equipment
Overuse of equipment has a significant impact on the life of the equipment. The technology allows you to monitor the usage in real time. As a result, you would know the equipment is underused or overused.
You can prevent it from occurring and manage the equipment efficiently.
