Many business owners believe a rental ERP is “out of their league.” Whether they're a single-location startup or they don't think the construction equipment rental industry is "high-tech" enough to need a designated software solution, they feel like they don’t need the functionality or the expense of enterprise resource planning software. After all - they've been managing just fine with spreadsheets, paperwork, and point solutions so far ... right?
Change can also be a big deal. Some rental operators don't want to purchase rental management software because they don't want to change their established processes.
A prime example of this is back office functionality. If you’ve been managing your invoices with QuickBooks® or other off-the-shelf applications, migrating to a rental software system that doesn't use these third-party packages for your financials can be a major adjustment. But at the end of the day, change can be a good thing. If you’re looking to truly grow your rental business and get more efficient at everything from operations and maintenance to inventory and accounting, there are many benefits to using a rental ERP software system.
Companies that use InTempo's rental software achieve 2.5x the rental revenue of companies that use other solutions. Request a demo and find out why it's widely regarded as the best ERP solution in the rental industry.
A rental ERP system is a suite of integrated applications that lets you manage your entire rental business.
Different packages will have different solutions, but true ERP systems will include - at minimum - base modules for accounting, day-to-day rental operations (such as writing contracts and creating reservations), inventory, and maintenance. These systems can be cloud-based or installed on-site at your rental office; many even include options for mobile app access.
Collectively, this lets you integrate the front and back ends of your operation. There's a seamless flow of data that keeps everyone on the same page, and your most important processes become standardized. As a result, everyone from your counter team to your yard staff can work more efficiently.
A rental ERP system also helps you:
Think of it this way: even a small rental company is sitting on a mountain of data. From vendor invoices and warranty documents to customer information and jobsite data, you have many moving pieces to keep in order. A rental ERP solution doesn't just help you keep that data organized; it helps you turn it into actionable information. It's the "easy button" to becoming more efficient and making better decisions for company growth.
While a rental ERP can be more expensive than point solutions, the significant gains in efficiency, accuracy, and reporting far exceed the cost. In fact, most of the customers who use InTempo's rental software earn more than 2.5x the rental revenue per location than customers who use other solutions. That ROI is hard to ignore.
Of course, choosing the right ERP is critical to the success of your project - and not all solutions are created equal.
Some rental software companies claim to offer "all-in-one" enterprise resource planning solutions, but getting all the features requires an upgrade to a larger package. Or, they let you track some of your purchases on the base platform, but still require the use of third-party accounting software.
There's also the matter of industry specificity. Many "industry-agnostic" ERP systems exist in today's market. Because they're built to apply to a wide range of business types, they may not be able to account for the unique processes that occur on a daily basis in the rental industry. For instance, you may not be able to see which customers are currently in possession of individual pieces of equipment or set up inspection checklists for various pieces of machinery. Or, they may not be able to accommodate multi-location equipment depreciation or cycle billing. This can limit your ability to make full use of your ERP platform.
If you're thinking about taking your business to the next level with a rental ERP, be sure to thoroughly explore all your options and consider how they'll work in real-life applications. Involve your end users - not just your management team - as you evaluate options and find the right system for your needs. Check the pricing structure (do they charge license fees per branch, or per user? What will your maintenance agreement include?) as well as the various tiers of support that they offer on the back end.
InTempo's rental ERP is designed to help local and regional rental businesses level the playing with national chains. We deliver best-in-class functionality in an easy-to-use format, at a price point that makes sense for your industry. There's a reason our customers stay on our system for years on end; we're built to be the last rental software you'll ever need.