Many times, when we are looking to resolve a business problem we look to the latest in software technology to provide solutions. This is especially true when we see our competitors offering new solutions that we currently are not. The problem is, there are many options at many different price levels and much in the way of research that goes into providing an updated solution. It can be a daunting task but let’s take a step back. You might already have your solution.
Do you know the current state of your business? Wouldn’t it be great if you could forecast sales or see patterns affecting your company? By using the right tools, this may be possible. Using your financial data to spot trends helps managers plan for future growth as well as gauging impactful business decisions. The more managers know about the state of their business and its environment; the better equipped they are to make pinpoint decisions that will positively impact your company.
Businesses are always looking to gain a competitive advantage. These innovative companies evolve and utilize the latest advancements in technology to stay ahead of their competition. One example of an advantage is using the internet; more specifically, using cloud-based computing. Using the Internet has evolved into a vital and important component of the business world. Not very long ago, it was the norm for companies to run their equipment rental software and other business applications by downloading them on to a mainframe or physical server located in their own building. Now, more and more companies are leaving their physical servers and are moving to a higher service found in the cloud.
One can argue aside from its employees, the most valuable asset a company has is their equipment and inventory. Businesses can become inefficient and unprofitable when they are unable to track their equipment and measure the equipment's financial impact. Companies can think of their equipment and inventory as potential revenue sitting in their warehouse waiting to be utilized. According to the 2015 State of Small Business Report, 46% of small businesses do not track their inventory or use a manual process. As a business, wouldn’t you be concerned about tracking your money if it was just sitting in your warehouse? Utilizing equipment rental software will maximize profits by keeping track of equipment and inventory; as well as, provide information to help make decisions that will impact the overall performance of the business. This correlation leads to accurate forecasting and planning which ultimately leads to revenue growth and profitability. Failing to do so exposes your business to potential pitfalls and can cause your company to be unsuccessful due to not having an adequate system in place.
4 Reasons why Truck Rental and Leasing Companies should use TrakQuip Software
We are very proud that for over 23 years we have offered a proven software solution for many rental and leasing industries. During those 23 years we have continued to add features to our software, integrate with other best-of-breed solutions and gain a breadth of knowledge working with so many successful companies.
The most common question we get from our Truck and Trailer Rental and Leasing Industry is, “How can your software solution work for us?”
We live in a world where information is readily available. Just think how things have changed when it comes to getting information. We use to rely on newspapers and publications to get the latest news and the most recent happenings in the world. We’ve gone from daily newspapers, to nightly evening news, to 24-hour news channels, and now we are able to satisfy our thirst for information by logging on to the internet. Actually, we don’t even need to log on because we can get automatic alerts on our mobile devices. Information is truly now at our fingertips.
At the core, equipment, service and rental management software needs to do everything to make better decisions, improve service and in the end, produce a better bottom line. Every company using rental software has unique requirements so flexibility is imperative. Rental software solutions need to adapt to your business rather than your business adapting to the software.