In our last blog post, we defined what ERP rental software is and who it's for. Now, we'll dive into greater detail about common features you can expect to find. We can think of ERP in three categories: operations, accounting, and reporting. In this post, we'll focus on operations. In our next post, we'll look at accounting and reporting.
Rentals and Sales
Everything you need to run your business efficiently:
From a purchasing and inventory control perspective, an ERP allows you to manage the PO process. Management can specify who is allowed to make purchases and for how much. The purchasing process brings items — parts, merchandise, and equipment — into your system so that from an accounting standpoint, you can properly account for them, and from the inventory side, you can expense them when you use them. A company that isn’t using an ERP — that doesn’t have a purchasing system and inventory control — generally has to expense parts at the time they buy them, they’re in use or sitting on the shelf. Hernan del Aguila, Owner, Partner Rentals
If you work at a rental business, your life revolves around your equipment. With ERP software, you can help you keep your equipment running optimally and keep a “paper trail” of everything that’s been done to an asset:
A rental ERP system should have a work order or service module were you can record anything you do to your asset, be it add value to it, fix it, or do preventative maintenance. This is important not only because you want to track everything you’re doing as you’re doing it, but because you want to be able to create a historic overview of what you’ve done to the equipment. That way when it comes to selling it or purchasing new equipment, and you need to analyze whether a piece of equipment has made you money or not, you can look at the maintenance history and it will help paint a clear picture. Hernan del Aguila, Owner, Partner Rentals
Connect your drivers, operations, and customers. Dispatch software, whether it is native to your ERP or integrated with third party software, can deliver many benefits. It can save your dispatchers time and headaches by making routing and scheduling easy; it can reduce fuel costs; and it can give your customers a better experience since they can track deliveries.
Track the relocation, repair, and disposal of all your company’s assets. A rental ERP system will allow you to understand how much a piece of equipment costs you, how much you’re selling it for, and its profitability. You can search for an item to see any purchase orders, sales transactions, rentals, and maintenance history written against it.
Stay tuned for our next post on common accounting and reporting features.