When it comes running a rental business, or a services organization that uses assets for profitability, effectively managing your assets and equipment is critical to business success.
Lacking in this area could lead to:
- Equipment availability issues
- Items in need of repair accidentally getting sent out on-rent instead
- An inability to respond to customers questions about the equipment that they are renting
- Increased exchanges
- More frequent repairs needed due to items not being calibrated in a timely manner
- Being unable to tie revenue to individual assets and therefore missing out on opportunities to optimize your revenue streams
- Assets on-rent being overdue for return or going missing
All of these trends will almost certainly have a negative affect on your customer satisfaction and your bottom line.
Fortunately, there is a solution that gives you a means to manage all of your assets, from acquisition through retirement while keeping tabs on their status, depreciation, and revenue generation in real-time. Rental360, a complete cloud solution built on Acumatica for rental companies or businesses that need to manage equipment or assets that they use to drive revenue, gives you comprehensive equipment information from a single screen for effective and efficient asset management.
Within the Rental360 Equipment List, you’ll see every piece of equipment that you own, whether it is out on rent or not. Quickly find the information that you’re looking for by filtering the Equipment List by customer, manufacturer, model, warehouse, location, or status. Common equipment statuses include:
- In-Prep (any equipment selected for an order but yet to be delivered)
- On-Rental (once a piece of equipment has been delivered)
- Returned (once the rental is complete)
Whether you are on the Equipment List or the Rental Order Screen, you can drill down to the Equipment Screen for any asset. On the Equipment Screen, you’ll see all recorded attributes of the asset as well as its service history, and last and next calibration dates.
You can also see all Fixed Asset information including the:
- Asset Type
- Vendor purchased from
- Purchase date, amount, PO number
- Fixed Asset ID
- Age in Months
- And Days on Rent
The complete equipment transaction history begins from time of purchase or receiving and tracks each movement of the asset, following the:
- Reason Code
- Start and End Date
- And Order Contract, which you can drill into for additional detail
Having all of this information easily available will make your staff more efficient and your decision-making more effective, helping to increase your customer satisfaction and raise your revenue.
For questions or to learn more about how Rental360 can help you manage the complete lifecycle of your assets in Acumatica, contact us today.