Benefits of Equipment Rental Software

Benefits of Equipment
Rental Software

Why Do You Need Rental Management Software?

Built on modern, cutting-edge technology, Rental Management Software provides the functionality to streamline rental operations and improve profitability. e-Emphasys Rental Management Software enables dealerships to plan, operate, monitor, and improve rental operations, to increase profitability and enhance customer service. With Rental Management software, the rental department is seamlessly integrated with the rest of the dealership. This reduces equipment downtime, streamlines operations and ultimately increases the profitability of your rental department.

With Rental Management Software, equipment dealers and rental companies have full visibility into their entire rental department. Personalized operational and executive dashboards bring detailed

insight into high-level KPI’s as well as day-to-day tasks. Operational dashboards improve productivity and eliminate time-consuming searches by consolidating job critical information. For example, a rental manager would see tasks that require immediate attention such as “Rental Contracts to be Returned”, “Demo Contracts Overdue”, and more when they log in each day. Rental Management Software provides advanced analytics and reporting which gives organizations the ability to make crucial business decisions and shed light on potential business opportunities such as opening new branches based on rentals sales in given geographic areas.

In the rapidly evolving equipment rental industry, many dealers are hindered by outdated technology. With Rental Management Software, equipment distribution and rental companies move from a reactive to proactive mode of engagement. With features like Rental Fleet Management, Equipment Configuration Management, and IoT and telematics, Rental Management Software streamlines every aspect of the rental department.

e-Emphasys Equipment Rental Management Benefits

e-Emphasys Rental Management, known in some parts of the world as “equipment hire software” helps dealerships to get the most out of their rental fleet. Dealerships can plan and operate their rental operations more efficiently at every stage, from quoting all the way to invoicing and collection. It is vital to maximize utilization in the equipment distribution and rental industry, Equipment Rental Management tracks key metrics such as Time Utilization and Finance (Dollar) Utilization to help get the most out of every piece of equipment. Equipment dealers can ask “How many dollars did we make off this machine?” and “How much did we make compared to how much it cost in the initial acquisition?” Leadership is equipped to analyze and make strategic decisions based on utilization, making sure rental departments maximize their profitability when making decisions on renting and selling equipment.

Equipment Rental Management software is developed with the necessary industry-specific features and flexibility to handle the dynamic nature of the equipment rental business. e-Emphasys Rental Management supports multi-site rental operations, optimizing utilization across branches. It provides flexible pricing and price simulation options, to support advanced pricing schemes with multiple price and discount variables. Equipment Rental Management can also handle contract types of all kinds (rent to rent, rent to sell and lease), ensuring your staff can handle any situation that arises.

With 350+ built-in business best practices to streamline the many processes in the rental department, Equipment Rental Management provides the industry with a solution that increases efficiency at every level of operations. Companies have greater control over their rental department with capabilities such as setting up alerts, assigning tasks, and tracking rental status and fleet availability. Complete visibility, greater control, and industry best rental analytics empowers dealerships and rental companies to make data-driven decisions.

Equipment Booking and Reservation

Excellent customer service is the goal of Equipment Rental Management. e-Emphasys Rental Management empowers organizations to exceed customer expectations. Customers benefit from self-service portals where they can search for equipment availability in real-time, with real-time pricing including discounts and daily, weekly, and monthly rental rates. Equipment Rental Management is more than just equipment scheduling software as companies have the ability to track multiple meter readings. This proves to be essential in making sure customers are charged the appropriate rate for the equipment in the case of over-usage. Visibility of effective and expiration dates for rental rates make the equipment booking and reservation process more efficient by cutting transaction time, leading to improved customer satisfaction Customers no longer experience miscommunication or confusion in the process of reserving equipment as they can reserve, order, and receive the exact equipment that meets their needs.

Equipment Tracking and Availability / Inventory Management

Equipment Rental Management equips organizations with robust tracking and inventory management tools. Dealerships and rental companies have visibility of every piece of equipment within software through GPS tracking. Organizations gain a competitive advantage as real-time KPI’s integrated with GPS mapping allow executives make strategic decisions based on equipment usage, travel time and distance, freight cost, and more.

Customers benefit from Rental Availability Search when looking for the equipment and machines that they need. Rental Availability Search filters and searches by category, model, branch office, location, and even different versions or options of specific models. Therefore, customers who may need a machine with a specific part is able to search by attachment, making sure every possible need of the customer is fully met. Customers also have the ability to search for alternative equipment in cases where certain machines may not be available. All equipment details are visible with the software, including history of the equipment, when it arrived, and who has rented it over time. Equipment Rental Software provides the “Life Cycle Cost”, detailing every financial activity of a machine. This includes details of profitability, rental revenue, service orders, original acquisition cost, insurance associated with the machine, interest on loans, warranty reserves, and more. Even further, for equipment that has been customized or configured in a specific way, Equipment Rental Management keeps track of “Configuration Life Cycle Cost”, calculating the changing value of a machine with different attachments and configurations.

Fleet Management and Scheduling

With Equipment Rental Software, dealerships and rental companies maximize the availability, performance, and utilization of their fleet. During the cycle of equipment being returned, maintenance, inspected, and sent out again, e-Emphasys Rental Management helps to automate processes and streamline operations. Turnaround time is significantly lowered as dealerships and rental firms utilize RFID data capture. Appropriate parties are notified in real-time when equipment returns to the lot, allowing the item to be inspected, work order to be generated and completed, and item ready to be rented out again in the most efficient manner.

Integrated Accounting

Traditionally, dealerships and rental companies have used endless spread sheets and mounds of paper to run the accounting processes of an organization. Equipment Rental Management radically improves this process as organizations can implement paperless quote, order, and invoice processes. Easy quoting, invoicing, and document management delivers efficient administration of the rental process, and companies benefit from capabilities such as auto-converting inquiries into quotes and quotes into sales orders. Rental managers are also equipped to create quotes and contracts through Rental Dashboards in the solution, utilizing all-inclusive proposals of equipment, attachments, warranty, services, and trade-ins. The system provides flexibility for rental invoicing with auto-calculation of invoice amounts, considering off-rent periods, and other common financial occurrences in the rental department. Overall, streamlined accounting processes integrated with the software provide organizations with the control and visibility of finances to take greater control over their rental departments.

Integrated CRM

CRM, built on Microsoft Dynamics, is fully integrated into the Equipment Rental Management software. This equips your sales department with all the tools they need to improve customer relations and close more deals. The sales force can take a focused and guided approach when dealing with customers with tracking of all sales activity, customer information, and complete customer interaction history. Organizations do not need to rely on internet connectivity when utilizing CRM as it provides interactive configuration and an off-line mode to sync with the system once they reconnect to the internet. With comprehensive management information, complete tracking of meetings, offers, and interactions, and full visibility of inventory and details (specifications, configurations, images, pricing, attachments, options, credit position, margin information), dealerships and rental firms can be confident that their sales force is fully equipped to effectively close deals and serve customers with conviction.

Reporting and Analytics
As it is nearly impossible to make data-driven decisions without having access to information in real time, Equipment Rental Management provides real-time reporting and analytics to help organizations evaluate key rental department metrics. e-Emphasys Rental Management provides an abundance of data broken down by equipment type, OEM, model, and even individual serial number. Companies are given visibility into data, drilled down to the individual machine level, enabling executives to analyze which machines are most and least utilized. As a result, leadership can make strategic and calculated financial/pricing decisions such as discounting low utilization items and increasing prices on high utilization items.

Proven Success

e-Emphasys Rental Management is impacting organizations all around the world with the next generation Dealer Management System. With a fully integrated Rental Management module, all departments within the dealership should see improvement in productivity, performance, and profitability. Dealerships and rental companies trust e-Emphasys to provide “advanced productivity tools” to transform the way businesses run their rental departments. Every component and process of the rental department is streamlined and easily tracked, helping you to maximize ROI from your rental fleet.

e-Emphasys is committed to empowering the equipment distribution and rental industry with modern, best-in-class software while providing outstanding support and service. With industry-specific features, best practices, and functionality, e-Emphasys is proven to transform the way businesses run their rental departments.

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