Every business wants more customers.
But once in a while, businesses find themselves engaged in a project they probably should have turned down.
For rental businesses, this frustrating reality is often not fully clear to them until rental assets are returned.
Assets might look misused or overworked – and maybe they have even been used on multiple projects despite what was determined in the rental agreements.
Confronting customers is always awkward – and anyway, there is no way to prove any wrongdoing.
Or what?
Extra maintenance and loss of revenue
The result for rental businesses is not only momentary frustration but also monetary loss.
Firstly, the costs for maintenance to machines that are misused or overworked will increase.
Secondly, if rental assets have been working more than agreed in the terms, the potential revenue for these working hours is lost.
However, all of this is about to change as more rental businesses embrace the use of data tracking – now even available for non-powered assets.
These small durable data trackers are wireless and can therefore be installed on anything from attachment tools, compactors, lifts, conveyor belts, etc.
From here, they track and log actual running hours, detect any mishandling or rough treatment, and offer the location of your assets – throughout the rental period.
Complete visibility with data tracking
Trusted has developed the world’s most durable wireless data trackers which are designed to withstand life on even hydraulic attachments.
Devices are in operation on attachment tools, compactors, trailers, excavators, lifts, and the list goes on. They are IP69k certified and will do the job on construction sites, in mines, pits, and in all weather conditions.
The data they provide is custom-made for solving those frustrating issues for the rental businesses we talked about.
Now, if an asset is returned in what looks like a bad shape, rental businesses can log in with just a few clicks to see whether terms of use have been broken:
- How many hours has the asset been working?
- Has it been working in only one location or has it been moved elsewhere?
- Has it sustained any excessive shocks or impacts in transport or during work?
Data is available online in graphs, reports, and maps.
Better usage makes better quality
The overview that data tracking brings to the table will improve the overall quality of the business.
Misuse can be detected, yes, but now you can also base regular maintenance intervals according to the actual use of tools and machines.
This means that customers will benefit from better quality and condition of the equipment they rent and therefore should expect fewer breakdowns.
Invoicing should also become more correct as automatic reports based on tracking data ensure that customers can be invoiced precisely for the time they used the tools.
As a cherry on top, if any equipment is stolen, the tracking data is pure documentation for the insurance company.
We see this as a win-win situation for both parties.
If you are new to data tracking
Learn more about Trusted’s data tracking solution by browsing the many solutions available for your rental business.
Also, make sure you read up on the world’s most durable wireless tracker in our hardware section.
Finally, do not miss out on our case story about how a rental company chose data tracking to solve classic industry challenges.
Find the article and much more here.
