While the years of video and DVD rental may be a thing of the past, this can’t be said for equipment rental services. This market is becoming increasingly lucrative. But in a world where customers now expect a faster and more reliable service due to increased business competition, organizations require 100% equipment availability and complete transparency. The answer? A digital hire and rental solution.
Digitization is completely changing business models and presenting new opportunities as highlighted by the rapid growth of the equipment rental services market. At the same time, this puts greater demands on your equipment rental business. Challenges include maintaining a growing product portfolio and dealing with a larger and more diverse range of orders. In this blog post, I will explain some of the common challenges for equipment rental businesses in the digital age and how it.hire&rental from itelligence can provide the answer.
Understand Where Your Products Are and Where They’re Needed
As an equipment rental company, it is more than likely that you have a wide variety of products and services. These are often required for different periods of time. Having a clear overview of the status of all orders is critical to offering customers reliable rental services and ensuring your equipment is available when needed. Furthermore, orders and agreements may be subject to unpredictable changes such as cancellations.
For this reason, businesses require a centralized overview of all orders that adapts to any changes in real time. Digital hire and rental solutions are designed to deal with these potential complications. You can view the status of your orders and where your services are being deployed at all times on a single, user-friendly interface. This ensures you avoid unexpected issues, such as equipment not being available when ordered. Additionally, this enables you to strategically plan how your resources will be used. You choose the right balance between your portfolio on site and in the field for your business and customers. In this way, you can identify the most profitable and efficient way of managing rental orders.
Providing Your Customer with Convenient Rental Services
Customers now have unprecedented access to information which gives them greater freedom than ever before. The wealth of data, different options, and competitive pricing significantly empower buyers. Enterprises must act and transform to become more customer centric.
“Having complete transparency over your inventory and all orders holds the key to giving customers what they want: a personalized service that they can rely on.”
Stefan Hoffmann, Wholesale Industry Solutions Principal at itelligence
This is where it.hire&rental comes into its own. By being able to maintain an overview of capacity utilization, price index, and equipment availability, you are able to shift from a reactive stance to a more predictive one. You can see how customers use a service and tailor your business model accordingly. This eliminates the element of uncertainty and enables you to provide customers with timely delivery of goods and rental services on terms that suit them – putting you ahead of the competition and helping you secure consistent business.
Having a Partner to Turn to for Guidance
Sometimes you also need advice and guidance about the next steps to take or how to get more out of your e-commerce solutions. itelligence is a global SAP Platinum Partner with nearly three decades of experience, supporting a global customer base. Our many years of working with SAP solutions and a diverse range of industries means you can always turn to us to find out more about getting the most out of your solutions. We can assist you in identifying areas for optimizing the management of your rental equipment and services.