How to deal with the rental equipment crisis?

3 min de lecture

Discover how to overcome the rental equipment crisis with smart strategies to optimize operations and boost profitability.

Rental equipment companies and managers may see themselves being faced with certain health and economic crises such as the Covid-19 pandemic. These crisis are rather complex to understand. However, we must not give up but rather turn it into a strength, to develop and revamp its activity and logistics, according to the situation. Here are our tips and advice to improve the profitability of your equipment rental business during the crisis with a software.

What is the impact of the crisis in the rental of equipment?

Following the current health and economic situation, what is the impact of the crisis in the rental of equipment? The Covid-19 crisis and lockdown mainly impacted companies that were not ready for the computerized management of their activity, mainly in terms of planning. Digitalization demand keeps rising in the industry, fueled by the rental equipment crisis, construction growth, and a shift toward rental-first usage.

The requirements for rental equipment have evolved and rental companies now want to be mobile and flexible while managing their activity. The profession is also seeking to develop the website showcase, to offer an online reservation service to their customers and not depend on an agency and a potentially closed counter, any longer. This is an extremely important issue in the equipment rental during the crisis.

How to adapt to the equipment fleet management crisis?

To effectively navigate the equipment fleet management crisis, choosing the right software is essential. Professionals in construction, material handling, or equipment rental rely on software tailored to their specific needs—from planning and trading to maintenance, workshop management, and repairs. A general-purpose invoicing solution is no longer enough to meet current challenges or future crises in the rental sector. Rental companies are now looking for turnkey solutions that let them focus on their day-to-day operations, with tools designed for the realities of their business and fast implementation that delivers productivity gains from the very first month.

A powerful management software will enable full digitalization of your operations and provide comprehensive tools to quickly anticipate and optimize equipment rentals. An intuitive planning tool, designed specifically for the industry, simplifies the management of unexpected returns and allows you to respond quickly to customer requests for specific equipment categories. The software’s analytics tools also help visualize the positive or negative impacts of the equipment fleet management crisis by cross-referencing key data to support informed decision-making. The need for centralization and anticipation has only grown stronger with the ongoing challenges in equipment, machinery, and rental fleet management.

Is software the ideal solution to the equipment rental crisis?

Is software truly the ideal solution to the equipment rental crisis? The answer is yes! Rental software offers significant time and efficiency gains, real performance improvement, and optimal forecasting capabilities during times of crisis in the rental industry. Hitechsoftware is a trusted partner for small and mid-sized rental companies, supporting the vehicle rental and construction sectors for over 35 years with tailored management solutions.

To meet new mobility and flexibility challenges brought on by the equipment rental crisis, your rental software can integrate with hitech’s myrentpad app to conduct equipment check-ins and check-outs directly from a tablet. Digital contract signatures also help accelerate your transition to fully digital processes. Streamlining communication between rental companies and their customers while optimizing online and remote transactions is a powerful way to respond to the current crisis—something equipment rental management software makes entirely possible.

Lucas S

Lucas is an expert in vehicle rental and fleet management, passionate about cars and new mobility technologies. He has been supporting automotive and transportation professionals for several years.