Reporting is one of the main reasons that companies run their business on specialized rental software instead of standard spreadsheets. Everyone - from your Rental Coordinators and your Service Managers to your General Manager and even your external auditors - needs to know where you stand. However, reporting still remains one of the biggest challenges for many smaller rental businesses. Understanding the reporting process can make it easier for you to determine what data and tools you need to provide the best insights for your company.
There are four main areas to consider when building a rock-solid reporting system:
Let’s take a look at the first of these areas: understanding what reports you need to provide.
This is a critical first step, but often it’s the hardest. It’s easy to say “we need everything,“ but do you?
Before your start to invest in rental analytics: start by building a list of all the reports you'll need, then ask some basic follow-up questions:
Asking these questions will help you understand and prioritize your list of reports. As basic as these questions seem, in many cases they are not asked before time and money are spent developing reports that are not really needed. Having the answers will help you immensely in the other next three areas.
Want help getting started with your rental reporting strategy? Contact us for more information.
Written by Chris Kennedy, an InTempo Project Manager and reporting expert.