Why A Rental ERP System May Be Right for You

Many rental operators believe ERP rental software is “out of their league.” Whether a single or multi-location business, they don’t think they need the functionality or the expense. Some rental operators also resist change when purchasing rental management software. A prime example of this is back office functionality: if you’re familiar with QuickBooks® or other off-the-shelf applications, you may favor rental software that relies on these third party packages for back office processing. But if you’re looking to advance your business and streamline everything from operations to accounting, there are many benefits to turning to an enterprise resource planning (ERP) rental system. And while an ERP is often more expensive than other standalone rental systems, the significant gains in efficiency, accuracy and reporting far exceed the cost. InTempo’s ERP software is used by a wide range of customers, from months-old startups to established businesses with multiple locations. Now, let’s step back and look at what an ERP is.

An ERP rental system is a suite of integrated applications specifically designed to manage your entire rental business and fully integrate the front and back ends of your operation. It harnesses the seamless flow of data to deliver value in the form of extreme business efficiency.

The objective of an ERP solution is to unify business processes to gain greater efficiencies. Five key areas of ERP value in a rental business are:

  • Data Centralization – An ERP allows you to manage the entire rental process, end to end. All your data is one place from the quote all the way through invoicing, equipment maintenance and fixed assets. Accounts receivable, accounts payable and the general ledger are all unified. Having a central repository for data makes it easier to collect, access and manage information across all areas of your rental operations. At the same time, you’ll have more visibility into data for all stages of the rental process, including purchasing, quoting, reservations, rentals, repairs, maintenance, parts, billing and collections.
  • Operational Proficiency – An ERP system eliminates repetitive processes and manual touches, greatly reducing employee hours and human error. It makes better use of your resources, particularly personnel. Since all the moving parts of your business “talk” to each other, you can reduce frustration and drive profitability and customer satisfaction.
  • Enhanced Accuracy and ROI – With an ERP solution, everything flows downstream in real time. As just one example, if last week’s purchase order specified a $7,000 equipment purchase, and today’s vendor invoice shows $7,850, the discrepancy will be flagged immediately because Purchasing and Accounts Payable are fully integrated. ERP supports the most efficient use of capital and gives you accurate return-on-investment analysis. 
  • Customizable and Scalable – Because ERP technology is an all-in-one solution, customizations and third-party software integrations are easier to implement. The effect of a change to the technology in one area flows throughout the software suite. In addition, the scalability of ERP is ideal for supporting the addition of more locations, new rental inventory lines or increases in user counts.
  • Better Collaboration – Spreadsheets such as Excel® are a popular choice for data manipulation, but they’re limited in terms of allowing any type of collaboration. By contrast, ERP architecture enables real-time collaboration by standardizing employee access to data, as controlled by security levels.

ERP Rental Software

Think of it this way: even a small rental operation is sitting on a mountain of data. An ERP rental solution turns that mountain into a wealth of actionable information. It not only serves to standardize, streamline, automate and add visibility and transparency to your business processes – it also enhances A to Z efficiency and enables better decision-making.

As a word of caution, not all ERPs are created equal. Some rental software companies claim to offer ERPs but the system is not fully integrated. If you’re looking to take to your business to the next level with time-tested, cloud-based ERP rental software to help you get there, send us an email or give us a call at 800.950.2221.

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