Owning a rental equipment business means you rely heavily on the asset and its condition. It’s often hard to track everything if you’re using a paper-based system. You don’t get a consistent, clear, and accurate picture of everything.
Likewise, manual processes are more error-prone. Using paper inspections can lead to severe damages or issues that might shorten the equipment’s life. You wouldn’t want to rent malfunctioning equipment and ruin your reputation with your customers!
However, the right technology will protect your business and help you track rental equipment. This blog will highlight how you can use Record360 to keep tabs on everything.
Benefits of Rental Equipment Tracking
When you use Record360 for rental equipment tracking, you’ll see these benefits:
- Loss Prevention: Construction equipment theft is estimated to be anywhere from $300 million to $1 billion each year, according to the NICB (National Insurance Crime Bureau) and NER (National Equipment Register). Loss and theft might be more common with smaller assets, but large equipment can be particularly interesting to thieves. You don’t want to deal with the loss of a large investment, and Record360 is here to assist.
- Less Downtime: When rental equipment can’t be rented, you can’t make money. Downtime is inevitable because of preventative maintenance, cleaning, and refurbishment. However, you can keep track of when these things happen, which means you’re not renting things out when they’re set to be maintained. Plus, you’ll know where the items are to ensure customer satisfaction.
- Visibility: It’s important to have usage and location data to optimize your practices. For example, this will tell you which equipment pieces are most often used and whether or not you have enough of them to go around.
Using Record360 helps you analyze your business and keep track of rental equipment to reduce inventory costs, calculate usage and returns on equipment, and offer better customer service.
Features of Record360’s Tracking Software
Record360’s products have many features. These include:
- Document the equipment damages anytime and anywhere. Take videos and photos to ensure you’re not held responsible for the repairs.
- Capture electronic signatures with ease, allowing you to make deals on the fly. Create inspections, automatically email the customer, and store everything in the cloud.
- Keep track of past inspections, employee/customer usage, damage analytics, and much more. You have a centralized dashboard to make it effortless.
- Use custom-built workflows, such as service inspections, incident reports, appraisals, rental inspections, sale preparations, field service inspections, and more.
It’s easy to create processes that meet your needs. Our digital-first checklists will help you get things done sooner. Plus, you’ll complete inspections using our intuitive interface. It’s as easy as 1-2-3.
You’ll get everyone on board with our platform, which means they can track data and complete inspections easily. Never worry about hand-written notes that make no sense. You’ll have clear proof of damages and maintenance, allowing you to rent equipment with confidence!
Final Thoughts on Rental Equipment Tracking Using Record360
Are you thinking of using rental equipment tracking software? Record360 can make your life much easier. Get insights into your fleet and streamline everything. Plus, you can record videos and take images of damage to protect yourself. Request a demo today!