Responding to Increased Rental Activity with e-Emphasys
Welcome back to our blog. Today’s edition is about e-Emphasys Rental Management, in response to the increased rental activity during the second quarter of 2021.
According to a recent survey from Baird Research and RER, there was a 9% increase in rental activity during Q2 2021 compared to Q2 2020. This can be explained by many factors, including higher equipment prices. The price of new equipment increased by 4.5%. Due to this, end users are focusing on utilizing their existing fleet and leaning more towards rentals rather than purchasing new equipment. According to the survey, fleet utilization was up 61.3%. Together, these factors have resulted in increased demand for rental equipment within the industry.
e-Emphasys can help your dealership meet this increased demand for rental equipment. e-Emphasys Rental Management enables dealerships to plan, operate, monitor, and improve rental operations, to increase profitability and enhance customer service. Our platform connects your rental department to the other departments within your dealership. The platform also connects your different sites, allowing you to view fleet inventory at other branch locations, so you can provide a seamless customer experience. You can create rental contracts for rent-to-rent, rent-to-purchase, demo, and internal/ loaner cases, all within the platform. Lori Brandon, Senior Rental Manager of Alta Equipment Company says, “Time spent doing paperwork is a huge improvement with the e-Emphasys system. Our Rental department has gone paperless. There’s no longer a delay in seeing if a truck is on rent, going on rent, in service, or returned. It updates instantly, which allows us to quickly turn our fleet around and use it for the next customer.”
With the complete fleet visibility across branches, you can quickly and efficiently manage rentals, increasing utilization. According to the survey from Baird, fleet utilization was up 61.3 percent in the second quarter. The results also showed an expectation for fleet spending to rise 8.3% during the rest of 2021. The increased demand is resulting in longer lead times for 65% of respondents. With tools within our dealer management platform, your dealership can set up notifications and alerts to track different metrics such as lead time, getting ahead of potential problems and providing helping to provide accurate communication to your customers. Regarding the analytics provided by e-Emphasys, Jamie Cowin, President of Cowin Equipment says “It was very important to me to improve the analytics and understanding of everything we were doing rental wise. Among our choices for software, e-Emphasys stood out as best analytics. e-Emphasys was the consensus choice among our team.”
The eInspection mobile application provides benefits to your rental department in day-to-day operations. With eInspection, your rental department can perform check-ins, inspections, and check-outs in offline mode whenever internet or WIFI connection is unavailable and automatically sync information once your device is back online. By scanning a barcode, QA code on a piece of equipment, or keying in the serial number you can view relevant information to that piece of equipment. Additionally, with the Integrated Document Management (IDM) you can view all images and reports related to a machine in real-time.
With the increased demand, providing the right tools for your rental department is going to help you and your dealership provide the best customer experience and equipment uptime. To learn more about how our customers utilize these tools, check out our customer success story from Alta Equipment Company.