Efficient equipment rental software should not only serve as your daily management tool — it should also stand as your first ally when it comes to managing your business. All data that passes through the equipment rental software must be able to extract statistics and key performance indicators regarding your fleet, customers and business performance.
1 – Here are 3 interesting statistics provided by the equipment rental software
The following 3 statistics are some of the valuable indicators that your equipment rental software should be able to provide you with.
- Utilisation rate and profitability: It is essential to associate the utilisation rate with profitability. Indeed, a high utilisation rate does not always rhyme with good performance. This is why it is interesting to be well aware of the equipment’s profitability. Some equipment can be very profitable by having a low utilisation rate and vice versa.
- Profitability according to the average age of the fleet: This data will allow you to define the tipping point from which your equipment (or a certain category of equipment) is no longer or not profitable enough. This information delivered by your equipment rental software will allow you to optimise the renewal of your fleet.
- Hourly and/or kilometric cost per material: These statistics will allow you to adjust your rates in order to achieve the desired profitability. For equipment that does not have hourly or mileage meters, it will then be necessary to consider the cost per day of renting the equipment.
2 – The analysis tools provided by the equipment rental software
The equipment rental software must be a reliable and efficient tool on which you can rely to manage your activity. The 3 statistics above are only a few examples among all the possibilities offered by a powerful solution. In order to support you in the development of your business, the equipment rental software must be able to provide you with complete decision-making tools based on the extensive information and data contained in it.
The harmony equipment rental software developed by hitechsoftware offers, in addition to all the features necessary to manage an equipment rental activity, a complete and easy-to-use analysis centre. In addition to existing analysis models, it is possible to create your own statistics or report models so that you can view them at any time. You can also export them in various formats (Excel, for instance).
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