Capturing More Usage-Based Rental Revenue with Connected Assets

Arielle Cox

Telematics isn’t just a way to locate your rental equipment; it’s also a valuable means of obtaining machine runtime data in near-real-time as well.

We’ve all been there – your customer signs a contract for 40 hours and ends up going over that runtime - accidentally or otherwise. Maybe they weren’t carefully tracking their daily usage hours; maybe they ended up needing to work overtime to complete the job. Either way, they exceeded their contractual limits (and any grace periods you have in place); now, you’ve got to collect overage fees. This could lead to uncomfortable “he said, she said” conversations from customers who are unhappy about unexpected charges - or worse, your company missing out on the rental revenue you’re owed.

In most cases, it’s appropriate to assume usage overages are an honest oversight. That’s where providing access to meter monitoring for your machines is a considerable value-add for your customers. If you can provide self-serve access to a customer portal where customers can track their daily and weekly equipment usage, they can better understand how much time they have left. If needed, they can budget for excess usage fees rather than being hit with an unexpected bill.

If you find that going over hours becomes a recurring issue for certain customers, your sales team can proactively recommend a dual shift (80 hours per week) instead of a single shift (40 hours per week) for their next contract. This makes their next rental more cost-efficient while allowing you to take on a proactive advisory role.

Capture More Usage-Based Revenue with InTempo MX

Overages of hours on machines can happen, but don’t let them prevent you from capitalizing on opportunities to generate revenue for your business. With InTempo MX, you can automatically capture those reports and readings, ensuring you charge the correct fees when needed. A built-in “over usage” tab in the top navigation allows you to easily identify every machine that has exceeded its contractual daily hours, letting your sales team get ahead of potentially challenging billing conversations as soon as the overages occur. And, because it pulls contract data directly from your core rental software, you can quickly tell which equipment has been rented out on a single shift vs. a double shift without having to verify details in two separate platforms.

As a standard feature in InTempo MX, access to meter monitoring also lets you provide essential data to your leadership team, demonstrating the revenue captured by each machine and helping you more accurately track each asset’s lifespan.

Ready to discover Connected Assets for more accurate consumption billing? Request a demo or contact our team to learn more.