Equipment Rental Companies Consolidate Data, Improve Asset Management, and Increase Efficiency
Rental Process Management (RPM) software provides a comprehensive, consolidated ERP system designed with equipment rental company’s unique needs in mind. RPM enables rental companies to manage all aspects of their business resulting in improved asset management, inventory accuracy, streamlined billing and invoicing capabilities, and more. RPM is built in the cloud and is available on-premises or in the cloud.
Features and Capabilities
RPM offers a variety of features and functionality that can help run your rental business including:
Accounting Features to help manage accounts receivables, accounts payables, and general ledger with customizable interfaces. The software includes tools for multiple costing methods for inventory helping to improve inventory management. Other accounting features include accrued and deferred rental revenue calculations and postings, and includes complete fixed asset functionality.
Business Intelligence Capabilities consolidate data collection and enable you to make informed and strategic business decisions based on accurate data. It allows you to create useful and aesthetically pleasing reports making data visualizations a reality.
Fleet Asset Management allows you to get the most out of your assets and reduce lost revenue. Tools include utilization and margin tracking that can provide a snapshot of utilization percentage, revenue and costs, margin and ROI for each rental unit or each subcategory of equipment. The planned maintenance feature allows you to track different types of maintenance required for each rental unit and setup your planned maintenance schedule by time or meter usage. Further, you can track any type of meter usage on your equipment such as hours used or miles covered.
Parts Management tools allow you to manage replenishment levels whether it is purchasing from a vendor or stocking your service vans from your warehouse; track inventory in multiple locations and transfer between them, as well as integrating with your suppliers using optional EDI functionality.
Rental and Sales Operations are made much easier with RPM’s flexible billing codes that allow for any type of billing options including: daily, weekly, monthly, 28-day month, in advance, in arrears, excess meter usage, utilization-based billing, non-rental days, and any customizable billing segments your company needs. Invoicing is also highly customizable with options for pre-authorization or pro-forma invoicing, recurring rental invoicing, contract invoicing, equipment and parts sales invoicing, and batch invoicing.
Service Work Orders functionality allow you to save time and effort by creating work orders for off rent inspections, cleanings, and repairs, technician dispatching and scheduling.