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Case study

The ROI of Record360: Real Numbers, Real Results

When rental businesses consider advanced solutions to digitize pen and paper checklist, store photos and videos in one centralized mobile platform, decrease damage disputes, and improve customer relationships, they’re looking for a higher return on investment (ROI) to offset the potential costs of using innovative tools. Monitoring and tracking ROI can help companies with strategic decision-making processes.

Record360 began in 2013 by promoting video captures and checklists for the rental industry before launching a robust application to digitize equipment inspections, contracts, and more. We have helped many businesses unlock their true revenue potential, improve fleet inspections, and reduce operational costs with in-depth analysis of key metrics.

Material Handling Inc. Achieved 30% More Efficiency with Record360

Material Handling Inc. (MHI) has been a leading supplier of material handling and forklift solutions across North Georgia, Middle Tennessee, Southeast Tennessee, and Southern Kentucky. The company has more than six locations and 46 service vans, providing timely repair services.

With thousands of pieces of rental equipment, MHI was using digital cameras to capture visual evidence and USB drives to track the condition of its assets. Due to a lack of data points and inefficient processes, a single inspection took the company over an hour to complete.

MHI decided to work with Record360 to record data and track key metrics across the six locations. The company gained insights into the assets at each of its branches and automatically sent invoices or documentation to clients via email.

Record360 has taken our entire physical inspection process down from about an hour to about 15 to 20 minutes. – TJ Bryant, Rental Coordinator, MHI-Chattanooga Branch

According to TJ Bryant, a rental coordinator at one of MHI’s locations, the intuitive application:

  • Reduced the inspection process from one hour to just 20 minutes
  • Saved $5000 in repair costs at an MHI branch, as the company was able to show proof of damage

Komatsu West Scaled Their Equipment Rental Revenue to $60 Million with Record360

Here is another effective case study showcasing how investing in Record360 solutions can boost ROI.

Komatsu West is an equipment rental company with a fleet of over 700 construction and mining machines. The business expanded to 11 locations and invested in more than 600 attachments to enhance its offerings.

However, as the company continued to grow, Komatsu West faced a serious concern that affected its bottom line. A lack of oversight and traditional visual capturing methods made it challenging to identify issues with the equipment, resulting in a lower sale value.

It was actually very easy to implement. Everybody was excited to have it and I never heard any complaints from employees. – Joel Cook, EVP of Mining, Construction, and Rental Sales

Komatsu West partnered with Record360 to:

  • Automate rental documentation
  • Document damages to outgoing and inbound heavy equipment
  • Expedite the completion of repairs
  • Build additional trust among renters

This partnership helped achieve tens of thousands of dollars in cost savings and scale the business’s rental sales from $5 million to $60 million.

Midway Chevrolet Achieved a 100% Damage Expense Recovery with Record360

Midway Chevrolet is a local dealership with a Rent-A-Car program that allows prospective customers to rent a new vehicle while their car is in for service or maintenance. It’s an excellent solution for those who need a temporary replacement and can’t be without an automobile for a few days.

When handling insurance claims for rental vehicles, Midway Chevrolet faced obstacles along the way. Due to low-quality documentation, the company struggled to recoup expenses or dispute damages.

With Record360, no insurance company says “no” to my claims. – Nina Cosiano, Dealer Rent A Car Manager

By working with Record360, Midway Chevrolet was able to:

  • 5x time savings on insurance claims
  • 16,850+ successful inspections runs through Record360
  • Achieve a 100% damage expense recovery

Key Takeaways: An Overview of Record360 ROI Potential

At Record360, we’ve helped create compelling case studies and avoid exaggerating the specific benefits of our solutions just to grab the reader’s attention. Instead, our innovative app delivers real, measurable results for partners across different industries, enabling them to:

  • Create fully customizable workflows for faster, more efficient inspections.
  • Capture crystal-clear images of asset conditions before and after rental contracts.
  • Automatically send service status notifications, ensuring quick corrective actions and reducing response times.
  • Optimize fleet management with hard data-driven insights and instantly share reports with team members.

Tired of the Same Results? Let Record360 Help Manage Your Fleet!

With Record360, many companies have built trust with their clients and potential customers, improving brand recognition and achieving their business goals.

Use our robust app to take your own business to the next level. Visit our case study page to explore more success stories, and call us at 206-489-3290 to schedule a free demo of our innovative solutions today!

Beyond the Checklist: How Record360’s Data Analytics Improve Decision Making

Gone are the traditional days of filling out lengthy checklists and forms before rental contracts. Businesses are adopting innovative solutions that capture details about rental equipment and use powerful analytics to drive actionable insights.

Data-driven decisions enable rental operators to tackle challenges in operations, inspections, and damage claims. Record360 is the leading app for digital inspections with many key features for recording rental equipment data and tracking key equipment inspection analytics.

What Data Does Record360 Track?

Record360 allows rental businesses to tackle many data points to complete inspections faster and eliminate damage disputes. These include the following:

  • Equipment or vehicle inspection results: Record360’s rental software allows businesses to capture photos of the equipment before and after the rental contract. It provides guided prompts to take pictures from different angles, ensuring high-quality images every time.
  • Proof of signatures: With Record360, businesses can take e-signatures using the digital application. It sends auto-generated emails of signatures and copies of inspections to the clients and stores them online.
  • Maintenance: Scheduling maintenance with Record360’s intuitive software is easy. It lets businesses capture data regarding the condition of their equipment, allowing them to identify issues and perform preventative maintenance.
  • Inventory management: With Record360, rental companies can record and track rental equipment conditions, allowing for better and more efficient inventory management.

How Can Record360 Visualize and Analyze Data?

Record360 offers a comprehensive dashboard with easy-to-read downloadable metrics and insights, including total checkouts, inspection duration, total damage, and damage over time. On the same page, it provides line graphs and pie charts to illustrate important details, allowing businesses to make data-driven decisions.

Practical Examples of How Rental Businesses Can Use This Data

Companies can leverage rental inspection, maintenance, and real-time data in various ways. They can:

  • Identify problematic areas and address issues before they arise with a particular piece of equipment.
  • Optimize maintenance schedules to minimize excessive wear and tear, ensuring better fleet management.
  • Predict equipment failures and take immediate action to reduce downtime.

Don’t Just Take Our Word for It—Here Are Some Case Studies Showcasing the Power of Data-Driven Decisions!

The following are some of the success stories shared by business owners using Record360 rental software:

PDQ Rentals Improved Inspection Data with Straightforward Interface

PDQ Rentals, a leader in the Southern California rental market since 1909, manages six locations, 300 employees, and a busy schedule of 180 deliveries and 125 pickups daily. Moving away from paper-based inspections, they found in Record360 a way to enhance how they document and share equipment conditions.

With Record360, employees no longer need to switch between systems to upload photos or manage inspection data. The app’s intuitive features, such as thumbs-up/down checklists and integrated GPS, make it simple for every team member to use from day one.

Midway Chevrolet Achieves 100% Damage Expense Recovery

Midway Chevrolet faced a serious issue with its Dealer Rent a Car program, which provides new vehicle rentals to customers having their cars serviced. The rental business team reported an increase in claim disputes due to poor documentation quality.

Since adopting Record360’s software, Midway Chevrolet has been better equipped with photos, videos, and geo-tagging, allowing it to effectively pursue damages in case of accidents. This has helped the rental business save time and money.

Aim Transportation Strengthens Client Relationships

Aim Transportation, a large fleet rental company, relied on a paper-based inspection process that required discussing uncomfortable details about damages with clients. This traditional approach was time-consuming and often strained customer relationships.

Since partnering with Record360, Aim Transportation has been able to accurately document asset conditions and leverage equipment inspection analytics to expedite claims and build client trust.

Record360: Rental Inspection Software

Regardless of your industry — heavy equipment, truck & trailer, or auto — there is room to increase billable claims, reduce damage expenses, and deliver superior customer experiences with accurate, well-documented photos and videos.

Ready to upgrade your rental inspection processes with Record360? Request a demo today or give us a call at (206) 489-3290.