| December 2023
Rental machine tracking and management software is used to map the movements of these company assets and equipment. It eliminates guesswork or misreported information, and lets you see the exact location of assets and equipment. Moreover, you always have current status and the complete rental and maintenance history of each asset in a convenient overview.
What is meant by software for tracking and managing rental equipment?
For heavy equipment rental companies, their assets are not only valuable, but also a direct source of revenue. Therefore, it is essential for these business owners to track the movement of their assets and equipment. And this is where equipment rental tracking software comes into play!
Rental tracking software is used to track the movement of company assets and equipment. It eliminates guesswork or misreported information, and lets you see the exact location of assets and equipment. Moreover, you always have current status and the complete rental and maintenance history of each asset in a convenient overview.
What are important needs for heavy equipment rental companies?
- The need for real-time data on the status of rental equipment
- The need for predictive maintenance
- The need for centralized management
Having immediate access to up-to-date critical data on the condition of the equipment being rented/leased as well as the service history of each company asset gives a strategic advantage. Maintenance teams receive alerts on potential failures before they occur, and the data is used by procurement and logistics teams to efficiently manage storage and spare parts, by the HR manager to improve risk monitoring and safety procedures, and by management to automate processes and identify potential business opportunities.
Why asset management software is important for rental companies
- Maximize the efficiency of your operational operation
- Increase transparency and ensure visibility of your assets
- Automate analytics and reports
- Monitor the operational status of your machines and reduce machine downtime
- Automate scheduling and get instant updates/reminders
- Manage document flow (inspections, maintenance books, rental documents)
- Reduce the risk of manual errors
- Reduce the risk of machine malfunction breakdowns
Characteristics of a good asset management system for the rental industry
A | Efficient inventory management
Benefit: Accurate tracking and organization of rental equipment: you know at all times who is using which equipment in which location.
B | seamless order management
Benefit: Effortless creation and management of rental contracts, with accurate information on equipment availability and optimized scheduling.
C | Sustainable maintenance management
Benefit: Knowing the current status and a complete maintenance history of rental equipment allows you to plan predictive maintenance and maximize the life of an asset.
D | Accurate analyses and reports
Thanks to collected asset data, in-depth analysis and reports are generated that allow informed decision-making for strategic business growth.
What are the 4 best practices for heavy equipment rental companies?
- Conduct regular inventory audits
- Automate the tracking of your rental equipment
- Choose an efficient system to identify your equipment
- Provide all your rental asset sets with identification tags
As a rental company, how do you best manage your corporate assets?
To track and manage the data of all assets and equipment through the management software, each individual item is tagged/tagged. These tags allow you to easily identify and track your property. Different types of technology are used for this, depending on the type of asset and the amount of data you want to record:
- BARCODE
- RFID
- QR/NFC
- GPS
- BLE
Want to know more about this? You can read all about it in our page on equipment management for the rental industry here.
Locate, manage and secure your rental equipment with our equipment tracker
Play it smart and track in real-time the location, running hours, maintenance and logistics of your tools! You use our handy tool for smart management of your tools and infrastructure, empowerment of mobile work teams and scheduling of periodic maintenance and mandatory inspections. Via IoT technology, your materials, rolling stock, mobile teams and infrastructure are identified, linked and you can monitor everything on 1 central platform on your PC, tablet or smartphone.
More info on locating and monitoring your rental equipment?
Did this blog answer your questions, and would you like to know more about the cost price or brainstorm with us about the right application for your company? Then contact us directly by phone 03 289 55 35 or fill in the form below to request more information or to book a consultation.
Also read our other blogs about tracking and monitoring business assets:
- 5 challenges for the rental industry
- Tool Management. What is it?
- Want to manage your material or infrastructure digitally on location? Use SMART QR codes!
- Practical examples for the smart use of IoT sensors for on-site machine management
- Asset Management: the benefits of CHECK.connects for your company
- Asset trackers for all your building materials
