Efficient operation of machine and equipment rental

Efficient operation of machine and equipment rental

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Efficient operations provide better opportunities for rental companies to grow larger and increase profitability. It is no wonder that this is one of the most important goals for you who either rent out trailers and transport vehicles or larger equipment such as lifts, scaffolding and mini excavators. Some of the questions you are sure to ask yourself are: How can you achieve margin utilization? How can you create a good flow and utilization of the machinery? In this article, we will look at just that, how you can help streamline the routines for the rental company and what opportunities lie there.

Improve logistics and inventory management

Good logistics and inventory management are important for rental companies in machinery and equipment in order to create more efficient operations, increase competitive advantages and overtime will be able to increase sales. By using a good planning tool with calendar view, you can simply see what is available in the warehouse, and what is rented to which customers for which period. In addition, it will be much clearer to use a digital system that shows you the history of repairs and tells you when it is time for maintenance and the next service days.

Having availability of the rental products at all times on a mobile can also contribute to better inventory management. This will be especially important on the days when you are on the go and need a quick overview of availability. Do you rent out scaffolding or similar equipment? Then you probably recognize yourself in the fact that there are quantities of products to be handled at once. A rental program that allows you to handle just quantity and volume products can then be a very smart investment to achieve efficient operation.

Holds mobile with Sharefox Rental System

Maximum utilization rate of the rental products

There are great competitive advantages for those who get a good flow in the warehouse and maximize the utilization rate of the rental products. Several methods can be used to achieve this. The most important thing is to have a clear system that shows you which periods the various rental products are rented out and when they are available. You can also use a digital calendar on your website, so visitors can see which dates the product is available. At the same time you will get an overview of available and rented products. In this way, you can plan rentals ahead of time and work on renting out the products that are actually in stock, which in turn will lead to an increase in the utilization rate of the rental products.

Integration with financial systems and corporate agreements

In order to achieve efficient handling of projects and invoices, it is important to have an Api integration with the financial system of the company. Connect your order system and financial system, so you get a seamless handling of orders and invoices. When you use the Sharefox rental program, you can integrate financial systems such as Tripletex , Visma eAccounting , Poweroffice Go and 24SevenOffice .

Handles various corporate and discount agreements on project and at customer level. If you are a rental player in B2B, your corporate customers probably also have their own corporate agreements, and several different projects that run in parallel with different types of equipment. Using a rental program that handles both company agreements and price discounts, as well as clear invoice bases on, for example, project numbers, are important criteria.

Efficient operation of machine and equipment rental 3

Streamline the rental process with self-service

With the help of self-service solutions, rental companies in machinery and equipment can offer their customers rentals at any time of the day. Customers can pick up what they have rented when it suits them. Which streamlines the rental process, saves you time and costs associated with staff, and at the same time provides a flexible offer to your customers. It also provides greater opportunities to expand the rental service to more locations with self-service warehouses. 

Sharebox is a very useful self-service service, used by a number of rental companies. An example of how their solution works is in trailer rental. A code is sent to the customer and with the help of this code they can retrieve a key to the trailer they have rented from a box. Read more about self-service with Sharebox .

Automation with digital booking

Digital booking is important to automate several parts of the rental process. Let customers book what they want to rent of machines and equipment themselves on your websites. This means that the staff does not have to accept simple orders, which may have previously been handled by telephone or e-mail. This will save the rental company a lot of time and costs associated with guiding simple orders.

Using a digital booking system, you will be able to:
  • Collect all signatures digitally.
  • Use BankID to identify the customer.
  • Credit check customers to secure income. 
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Streamline contact with customers

A common occurrence in the rental industry machines and equipment is that they have customers with little professional knowledge and purchasing expertise. This means that they spend a lot of time helping customers one on one. By investing some time in streamlining customer service, it can help you save the number of hours spent per customer and the costs associated with helping each customer.

Some methods that can be used to streamline customer service:
  • Write articles. Focus on topics your customers need to learn about when renting a product from you.
  • Make help videos. Short film clips where you show, for example, how the equipment is to be used are ingenious to help customers digitally.
  • Hold webinars. Engage your customers with knowledgeable webinars.
  • Create FAQ. Write down customers' questions when renting a product and answer them in an easily accessible FAQ.
  • Be available via chat and chatbot outside opening hours. Short answers in the chat on your website make you more accessible when a potential customer needs it.

Get started with streamlining with the Sharefox rental program

With the Sharefox rental program, you can help the rental company in machines and tools achieve the goal of streamlining the departments, grow larger and increase profitability. Achieve margin utilization and create a good flow for handing in and handing in the inventory. 

With the help of Sharefox rental program you will have the opportunity to:
  • Get good logistics and inventory management.
  • Maximum utilization rate of the rental products.
  • Integration with your financial system and handling of corporate agreements.
  • Streamline and increase profitability with self-service.
  • Automate with digital booking.
  • Streamline contact with customers.
Want to know more about streamlining your rental business? Book a demo today!

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