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Stay in the know with all of our latest

rental news, blogs and upcoming events  

Monday, 24 April 2023

Many hire businesses rely on outdated systems that collect customer data using unreliable processes and drive up labour costs. Equipment hire companies need to use tracking software to carry out accurate and timely transactions and maintain inventory levels.

Businesses that are hiring out high-value equipment—such as construction equipment—require reliable software that can track information about their customers and equipment. The problem many businesses face when it comes to reliable ways of tracking assets is that it has to be done manually. This becomes a labour-intensive task that often results in inaccuracies due to human error.

One of the methods that have become popular in recent years is barcode systems, which are an improvement over manual methods, but they do come with limitations, such as one-at-a-time scanning, easily damaged labels, and the need for the barcode to be in the line-of-sight.

Difficulties in the available solutions are pushing hire businesses working with high-value items such as construction equipment to use rental asset tracking software like RFID to make the most of their hire business with the necessary configurations.

Streamline construction equipment returns

For construction equipment hire companies, there are very few things that are more important than having their assets returned on time, especially if they’re booked by another customer. RFID provides a scalable and fast way to confirm that the equipment you’ve rented out has been returned.

Rental asset tracking software can also help you manage your inventory by accurately identifying the person or persons that are hiring the equipment and the corresponding item as soon as it gets to your warehouse. RFID-based check-in and check-out processes are accurate and the asset assigned to the customer can be automatically updated. 

Customers can be easily held accountable if an asset is not returned on the agreed date and time or is damaged. This is one of the reasons tracking software like RFID can be a great way to prevent theft and loss.

Reduce equipment hire downtime

Hire equipment not being booked is money that’s not coming into your company. While some downtime is unavoidable, tasks like preventive maintenance, cleaning, and refurbishments all take equipment away from paying customers. Another reason equipment downtime is experienced is the lack of awareness of where your equipment is. 

For instance, imagine a customer’s hire period has ended and the operator says that the trencher they hired is at the customer’s site, but your runner can’t seem to locate it. Several days later, you find out that the site supervisor has dropped it off at a location closer to you, thinking that it’ll make your life easier, without knowing that you needed it to be sent to another location across town.

While the whole situation is riddled with good intentions and not maliciousness, you still have an unhappy customer to deal with, a hit to your reputation, and lost revenue. While rental asset tracking software can’t solve your communication problems, it can help you resolve any issues much faster.

Experience inventory visibility

Inventory visibility is critical for hire companies. Without having the right inventory numbers, a hire company cannot accurately determine which assets are available to supply customer needs.

In addition, without accurate data, you may even end up overbooking equipment and having to explain to your customers why you won’t be able to deliver the items promised, leaving a bad impression about your professionalism and reliability.

Rental asset tracking software helps you collate data including seasonal usage trends, utilisation levels, and common time frames of hires. This gives you the confidence to make decisions that best serve customer needs.

Track your construction equipment with rental asset tracking software

Tracking software is a far more reliable way to know where your assets are at any given time. Using it can help equipment hire companies to reduce labour costs, collect better data, and streamline workflows.

Partner with a leading hire software solutions company with a proven track record of helping hire businesses to stay on top of their inventory and provide real-time data about your most important assets.

Get in touch

To discover how MCS-rm hire software can empower your business, call us on +61 (2) 9477 1355 or use our enquiry form.

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