Major Challenges Equipment-Driven Rental Companies Face

There are always changes in customer demands, whether they are due to changes in the market or personal goals.

Fremont, CA: It is becoming more and more popular for companies to rent equipment rather than purchase it. The rise in popularity is obviously great news for the industry, but rental companies are also facing more challenges.

Managing complex reservations and pricing models

Management of bookings and equipment falls under the category of 'everyday logistics' for equipment rental companies. Even with the rental industry booming and employees still favoring manual organization methods, like Excel spreadsheets, staying organized can easily be outpaced by customer demands.

Monitoring equipment availability

In order to manage bookings, equipment availability must be tracked correctly. Otherwise, how would you know what equipment is available and when? Do not double-book and disappoint at least one customer (which affects your customer service and satisfaction).

The answer is not to manually track this aspect. It's too easy to enter incorrect data or forget to update something by mistake. Monitoring equipment availability can be difficult because of this.

Processing equipment returns

This is another common challenge that leads to the task of managing bookings. It’s the ability to efficiently process equipment and material returns while keeping an eye on both the quality and quantity.