Many rental businesses are using spreadsheets to catalog their products and analyze data to employ better business management strategies. Some of these business owners are under the impression that spreadsheets have been really helpful in optimizing their workflow. However, the time-consuming and unreliable nature of spreadsheets makes them a costly way of managing rental and sale orders. Spreadsheets are:
Driven by conflicts and inaccuracies
They are not scalable – do not evolve with the business growth
Do not have the capability to track real-time data or run analytical reports
With the development of the internet and mobile apps, people want software solutions that give them instant and on-the-go access to their information. This need for faster and agile software solutions has led to an increase in the demand for cloud-based software. Implementing an online rental software offers a secure and more efficient way for rental management.
An online rental software enables you to showcase your products online via a customized webstore. This allows you to increase your digital visibility and create a way to boost your sale revenue. During a February 2017 survey, it was found that 69 percent of U.S. shoppers preferred to make electronics purchases in person. Continue reading →
Utilizing equipment rental software for maintaining rental equipment and saleable assets
When you are running a rental business or a retail store, the main goal is to achieve higher sales. But to achieve that there are layers of business management that involve an extensive process – from tracking rental and sale equipment to recording invoices, enabling multiple payment gateways or setting up an online webstore, and studying analytics to plan out a better sales strategy. Among these, businesses often ignore the importance of equipment maintenance management. It can either make or break your business. Yes, it’s vital for every business for smoother order management.
You don’t want to rent out equipment that is faulty or sell inventory stock that expires in 2 weeks. A business always has to make sure that the equipment used within the organization and the machinery that’s it rents out to customers or inventory it sells – all of them are in top shape. This requires businesses to run maintenance checks and stay up-to-date with all the service sessions. Businesses can automate all this using cloud-based equipment rental software for maintenance management.
Equipment rental software can be an all-inclusive ingenious solution to use if you want a bigger revenue of the retail business market. Rental management for retails businesses can be a daunting task.
The rental industry is increasing in scope every year. There are challenges a retail business has to deal with efficiently. From working out on the latest rental trends, setting up seasonal pricing, renting equipment at the optimum level, and showcasing the products online in the thriving retail industry. The best online rental software should be able to understand this and provide you with omnichannel support to increase your rental revenue.
Read on to know the top 3 reasons why a rental software is best for your business:Continue reading →
The best online rental software for your rental business
Rental businesses can be difficult to run. There are so many concerns that need to be met with diligence and efficiency. Trying to work out rental trends, off-season pricing, ensuring your equipment is in top shape, and trying to carve out a space for yourself in the burgeoning industry are all tough jobs to handle.
With so many cloud computing options available, rental business owners can often get confused about which rental software features they should be prioritizing in order to give themselves the best chance of success. Below, we’ll outline some major features you should be on the lookout for when shopping for the best online rental software. These will not only help you lower overheads and increase efficiency, but will also open up a lot more time for you so you can focus on being the best rental store around!
Rental Management Software and the Rental Industry
Rental management software can be a brilliant tool to utilize if you want a bigger slice of the rental industry pie. According to the American Rental Association, the forecast for the increase in revenue of the equipment rental industry still stands strong. The revenue forecast predicts a 5.6 percent growth in revenue to $47.9 billion in 2016. Revenue is projected to grow another 4.9 percent in 2017 and reach a record $55.6 billion in 2019. The industry’s growth forecast is double that of the overall economy.
“The equipment rental industry continues to grow at a fast pace with strong equipment rental demand within all markets,” says Christine Wehrman, ARA’s executive vice president and CEO.Continue reading →
Thanksgiving has traditionally been a day for family, turkey, and football, but increasingly retailers are viewing the holiday as a chance to kick the Christmas shopping season into high gear. Retailers get a hard time getting every order right every year in the busiest time of the year.
From managing orders, tracking customers and users, recording all those invoices to making sure that the data is secure, everything is a mess. But we’ve got a solution for retailers – let online rental software do all that and more!Continue reading →
Equipment availability and reliability comes first when you are in a rental business. Equipment rental management can be pretty tough for businesses. Not only must they ensure all their tools and equipment are well maintained with optimized working efficiency, but they must also have a fail-safe system to keep track of asset availability and customer history. Above all, businesses need to manage all costs and expenses efficiently.
One way SMBs are saving money is by looking at their capital and operational expenses and considering the purchase of different tools which could help smooth out their workflows and streamline their processes. A great way to cut expenses and increase ROIs in this sense would be subscribing to an all-rounder equipment rental software.Continue reading →