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What you must know about equipment management software as a part of your rental business?

Starting and running a rental business requires a long list of activities over which you must have proper control. Whether your business rents out vehicles; bikes, cars, ATVs/UTVs, boats, or equipment, you need to organize each and every transaction step (from bookings on the customers’ end to managing inventory at the employees’ end) carefully. The wider your business, the more control you need to gain over the operations. This is the reason why every rental business uses rental equipment management software. But there are a few things related to the software which you should not miss out on. After all, you want your business operation to run smoothly without them consuming much time and creating troubles for you and your staff.

We know that managing equipment manually can be really hectic and needs multi-tasking which leads to errors in spreadsheets entries too. Fortunately for you, Rides Rental Software has come up with the best alternative to manual efforts with its automated software. 

Now, let’s explore the must-knows of equipment management software in detail:

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1. You need to gain proper control over your equipment: 

Tracking inventory is not always as easy as it seems. Barcodes, RFID, etc. are placed on them but still, there are numerous incidents of inventory being missing or double-booked by the customers. Equipment management software is your quintessential solution to this. It keeps a record of the inventory being allocated to the customers, which employee rented it out when it will be returned if it hasn’t been returned yet, which is the highest rented out of all etc.   

2. The equipment rental software is quick to highlight demanded item’s availability:

Rental management software is one step ahead when it comes to being intuitive about the availability of the in-demand inventory. The calendar feature of Rides Rental Software will always make sure that your staff doesn’t have to cross verify the spreadsheets or go check the available items to make sure if they are there when the customers ask for them. With just one app installed on your staffs’ phones, they all can have knowledge about the equipment; where to locate it, and how many are there, in no time.  

3. Carrying laptops everywhere is difficult, equipment management software frees you from this:

There’s no need to carry your laptops everywhere you go if you work remotely. The software is designed to give you an instant check on the vehicles or equipment which constitute your inventory and you can have 24/7 direct access to it from any device; be it your laptop, phone, or tablet. All the data is backed up by cloud storage and will automatically update as soon as you connect your device to the internet. This way, getting your hands on the inventory status will be just a matter of seconds.  

4. They save your business from potential loss:

Damages or missed inventory and equipment are the major cause of loss for a rental business and literally any business in the world. The equipment management software saves you from such troublesome scenarios as they scan the returned and already present equipment in your warehouse for potential damages and alerts on the app quickly. 

5. Your staff will be quick to take accountability:

Now that every piece of data is easily traceable and reports to all the employees about who put which information and who updated which status, the employees will take accountability seriously rather than playing the blame game. Each employee will be actively vigilant about their part of the job and fewer errors will occur, which leads us to our next point:

6. Data entry errors will be eliminated:

Little unintentional data errors can cost a rental business a lot. The more they are capable of doing the damage, the less they are easy to be detected. However, the rental software, Rides Rental provides you with, knows how to fix this. It highlights even the smallest of the mistakes and errors, so you can correct them immediately.  

7. It provides you with smart inventory reports: 

The equipment management software gives you smart and precise insights with no additional useless information in the inventory reports. It categorizes the inventory into specific tabs such as available items, presumed missing items, booked items that are still in store, items rented out, items returned, and items that are yet to be returned. Let’s see how this works.   

It gives you the insight over: 
  • Equipment that is damaged or broken and needs to be repaired before putting on the website under the ‘available for renting' category.  
  • Outdated equipment which needs to be replaced by new and has not been rented out in the past months for once.  
  • Equipment that is considered as missing or has not been returned for a long time by the customer.  
  • Which should be the optimal price range for renting this week and the next week? 
  • Which items are in high demand and which items are the least rented out based on the past rental facts? 
After getting the exact figures and data based on categories, it will be easy for you to make promotional plans, financial and budgeting plans, and how you can give a quick clean-up to your inventory to make things more streamlined.  

Check out Rides Rental Software for your all-in-one solution package:

You need to cut the costs and eliminate losses in your rental business as soon as possible and this can be done by gaining just the right insights and control over your business's day-to-day operations. Rides Rental provides you with pricing strategies, management strategies, and also touch-up your website to gain more organic customers. The Rides Rental software lets you gain more profits and increase the salience of your business if you are new to the rental industry. With all your operations in synergy and all your employees at the same pace, you will be able to focus more on expanding and earning more revenues.
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