Fleet utilization is one of the key factors in maximizing operational efficiency and revenue growth. There is more profitability when your rental company can turn vehicles (heavy equipment, truck & trailer, or auto) around quickly between customers.
Traditional vehicle inspection options slow down the process, which can lead to lost income and delays. However, when you implement digital inspections, you can improve rental vehicle turnaround, increase efficiency, and reduce downtime.
How Slow Turnarounds Impact Fleet Utilization
You’re losing revenue if your rental vehicle sits idle because of inefficient documentation and delayed inspections. Here are a few of the key challenges that could slow down fleet utilization:
- Administrative Bottlenecks – Manually handling inspections and repairs creates additional challenges for the administrative team, potentially causing the company to miss out on rental opportunities. Additionally, improved, instant communication is essential to ensure everyone is clear on their responsibilities.
- Lack of Real-time Data Visibility – Paper records make it harder for fleet managers to track a vehicle’s condition in real-time. They may take longer to find relevant information and identify areas of concern.
- Various Delays – Overall, your fleet capacity could be significantly lower when there are damage disputes. Vehicles can’t be used, so they’re costing the company money.
- Time-consuming Manual Inspections – Employees must fill out forms while trying to keep photos and other relevant documents in one place with outdated paper-based inspections. Therefore, the vehicle might not be ready in time.
How Record360 Boosts Your Good Revenue Growth Rate
When you adopt digital vehicle inspections, you can streamline your rental operations. Vehicles can be serviced and checked more quickly. Here are the ways that Record360 can boost your revenue growth rate:
Instant and Accurate Vehicle Inspections
With Record360’s mobile platform, employees can complete vehicle inspections on any mobile device. Our platform automatically records time stamps, tracks the GPS location of inspections, captures clear photos and videos, and helps employees complete their tasks efficiently.
Faster Dispute Resolution
Most companies want indisputable evidence to resolve damage disputes quickly. You need those vehicles back in circulation within the same period each time to reduce downtime. With Record360, all your documents, photos, and signatures are stored in one place, eliminating the need to search for that paper inspection.
Streamlined Workflows for Rental Operations
If you digitize the inspection process, you’ll eliminate paperwork. By freeing up more time, your team can focus on customer service and efficiency. Likewise, our easy to follow step-by-step workflows ensure that the vehicles are ready for the next rental. Regardless of your inspectors technical skills or preferred language, our mobile platform makes completing inspections effortless.
Enjoy Recurring Revenue With Fleet Utilization
Generally, rental businesses want to experience revenue growth. The way to do that is by having vehicles spend less time in the inspection process. Digital inspections and documentation can impact your bottom line in these ways:
- Better Asset Management – With real-time tracking, you can make data-driven decisions about upcoming scheduled maintenances, total checkouts, total damages, inspection duration, and much more.
- Enhanced Customer Experience – A quicker rental process leads to customer satisfaction, positive reviews, and business success.
- Lower Operating Costs – You can lower labor costs and boost revenue by reducing administrative tasks and eliminating manual paperwork.
- More Booking Availability – Fast turnaround times mean your company has more rentals each month. More rentals means more money coming in for your rental business.
Boost Your Average Revenue Growth With Record360
Record360 offers comprehensive software to help your company streamline vehicle inspections and reduce downtime. When you use digital inspections, it’s easy to:
- Conduct fast vehicle inspections
- Improve revenue growth over time
- Reduce the number of damage disputes
Overall, Record360 has what you need to see the maximum amount of profitability. Check out our platform today to learn how it can benefit you.
