Key features should be there for any equipment rental software to serve its purpose. Anytime you want to introduce rental software, you should be keen to identify such features to work efficiently. Recently, there have been trends in rental companies that aim to improve the experience customers get from rental companies. Here are vital must-have features of a point rental that you should look at.
Order Management
The biggest challenge in rental companies is there is overbooking, which is experienced, and the new point of rental software would help solve overbooking. For instance, the equipment is booked for a month or a week before one uses the equipment, which would give rise to overbooking.
The rental business desires to have its equipment fully booked, and this will also increase customer satisfaction. In addition to that, the companies which rent equipment incur costs due to double bookings, but with the point of rental software, it would solve the problem.
Rentals Dashboard
The rental dashboard feature is essential because it provides real-time data that could be used to provide efficient management. In addition to that, the specific analytics data would help to improve the management performance for rental equipment. The management will use this feature to control all the rental equipment within one screen, making it simpler to handle all the rentals.
Equipment Tracking Feature
Once the equipment has been hired, the company must track it and ensure it’s used appropriately. The employees will receive a status update on every rented piece of equipment, which helps mitigate the chance of loss and the rentals.
There is vital information which will be provided, which includes rental numbers, personal details of the guest, and also the location of the rental, which is very important. It is more important for the point of the rental to have this feature to reduce cases of loss and other fraud.
Accounting And Payment Integration
When it comes to the rental equipment, it will require an accounting system to ensure full accountability of all the rental equipment. Most of the payment is made through the online payment platform. For instance, the software should accept different payment integrations, giving the customer a good experience. All the customers will look for a rental company with payment integration, unlike those with only one payment method.
Reports And Analytics
Every rental equipment’s success will depend on how the company manages its data to make an informed decision. Useful insights into customer preferences would be essential to help the business get sufficient information, which is much needed to enhance proper rental management.
The software would ensure the business gets the best reports regularly, thus ensuring the business promotes effective customer satisfaction. Rental companies should ensure that complex decisions are made based on the data.
Improved Security Feature
The security of the point of rental software is more critical, and this feature must be there. The reservation would be made online, requiring the customers to send their details online, including their credit details. These are sensitive details that would need the rental business to be more cautious with and enhance the security of these details.
Most customers prefer to make the booking manually for fear of their details, but if the system guaranteed security, it would improve customer satisfaction. All the rental companies should guarantee this to their customers and will provide the reservation made.
Availability Of The Cloud Feature
Technology has evolved, and everyone wants to incorporate the latest technology in all the services they seek. You must provide all the services to the customers from any point as long as you are connected to the internet.
The software which the software provider would provide should be available on the cloud. It would enhance the security of customer details and also helps the company provide excellent customer service. In addition to that, it would enhance the efficient operation of rental equipment.
Advanced Billing Feature
The point of rental should include advanced billing because it would help the rental company have an easy time when it comes to managing the rentals. When it comes to the payment, it becomes a problem, and this would get resolved with the ability to charge additional charges and other damages.
When handling rental equipment, you must have a clear system to ensure all the payments are made more efficiently. For instance, the credit card would ensure payment until the rental equipment.
Service Maintenance Management
Customers would appreciate professional services from rental companies, thus ensuring excellent customer satisfaction. You can schedule, track, and maintain all the equipment, thus promoting a good customer experience. Proper maintenance of the equipment would also promote the lifespan of the equipment for a long period.
Adaptability Feature
The rental company should ensure the software which is introduced is adaptable, thus ensuring all the rental equipment is well maintained. There is a need for the system to adapt to different factors that would accommodate different customers in the market. It would require the rental company to develop different packages for their customers to ensure the best deal.
To sum up
Whether you’re running a bike rental shop or renting arcade machines, you need to look for some features to help you run your business more smoothly. Key must-have features of a point of rental should be the first thing you are supposed to look at whenever you want to engage point of rental. Creating excellent customer experience to your customer while renting the equipment would always increase the chance of customer retention in the market and also recommendations to other customers.
In addition to that, every business should make good use of rental software to enhance efficiency in the operation. Rental software can be configured to ensure it suits your customers’ needs in the market.