Rental businesses collect troves of data over the course of even a single transaction. How easy it is for you to access that data, bring insights to light, and share information with others is another matter. Not all rental software is created equal in this regard. Here are key features to watch out for.
1. Can you create custom reports without breaking a sweat?
"Canned" reports that come standard with your rental software will likely be a good start. But the time will come when you need to be able to customize a report to meet your specific needs. When this happens, are you able sort the data? How about adding filters—say, excluding customers with revenue under $500 in a given month—from a report? Once you have the report you need, you should be able to export it in multiple formats such as an Excel, CSV or PDF.
2. Can you visualize and interact with your data?
Building dashboards you live and breathe by—for example, ones focused on revenue/management metrics, equipment overview, or salesperson performance—should be a no brainer. With the industry’s most advanced reporting tools, creating dashboards doesn’t require any coding. Just drag and drop the elements you want onto a canvas and the job is done. These tools should also enable you to drill into dashboards to get more information. As one example, you can look at revenue from your top 10 customers on a dashboard, then click to analyze trends over time for a specific customer. This is an effective way to uncover new sales and marketing opportunities.
3. Can you collaborate with your colleagues?
Getting to your data on your own is only half the battle. The more you align your team around key metrics, the easier it is to drive results. That’s why it’s crucial to be able to email reports and dashboards in a pinch, or to “set it and forget it” for automated exports.
4. Can you access your information from anywhere?
If you want to check the month’s utilization first thing when you wake up in the morning, or view A/R aging on your phone while you’re in the waiting room at the dentist’s office, are you able to get to the information you need at the very moment you need it? Your data is one of your most valuable assets, and it should be available on-the-go via a web browser or mobile app.
It’s not enough to collect data and store it in your system. You must have the technology that empowers you to take full advantage of everything you've worked for. With InTempo Enterprise, you get access to an advanced reporting tool that boasts all of the features mentioned above and more. Whether you use Enterprise or other rental software, ask yourself if you’re turning your data into action.