In the 21st century, a lot of companies rent out their equipment to small manufacturers. If you are one of those manufacturers who keep scouring the web for free equipment rental software or even the best equipment rental software, then your search ends here.
Renting tools is often a big hassle, and can become extremely expensive. Fortunately, there is a solution to this problem and it comes in the form of equipment rental software which gives small businesses the chance to better manage their rental assets.
If you need construction equipment rental software, We offer free heavy equipment rental software and software applications for construction machinery rental. You can find more information on our website
Equipment Rental Software is a powerful software application built to help the equipment rental industry manage all aspects of operating an enterprise. Our construction equipment rental software solution is designed for single or multiple locations, with strong features like inventory management, job costing and reporting, custom fields, and much more. This construction equipment rental software product is used by small and large businesses around the globe. It’s affordable, reliable and easy-to-use rental software solution allows you to customize reports according to your needs.
What is Equipment Rental Software?
Equipment rental software provides companies with tools to streamline processes, organize operations, manage assets, and calculate depreciation.
Using this software solution, you can also assign equipment to employees, schedule maintenance, and perform back-office operations, like accounting and bookkeeping.
From an operational perspective, you need to track and record all the assets you own. You can assign a barcode or serial number to categorize the equipment in your inventory, so you’ll know what is available and what is being used.
Having a record of an asset’s history also lets you plan regular maintenance for valuable equipment.
Invoices, certificates and how-to guides can be stored under each asset’s file to make documentation easier.
Cloud-Based Equipment Rental Software Features
We, at Asset.Guru, understand your need for a solution that increases flexibility and efficiency at every level of operations.
Our cloud-based platform is developed to streamline and improve the processes of your business.
With our equipment rental software, you can manage your back-end operations with these key features:
|Accounting||Track expenses and revenue with a general ledger, accounts payable, and accounts receivable.|
|Asset Tracking||Keep track of your assets, their location, and who is using the asset.Store valuable information on your assets, like pricing, payment processing, billing, and invoicing.|
|Asset Tagging and GPS Tracking||Scan your assets with tagging tools, such as barcodes, QR codes, or RFID tags. They provide information on their condition, cost, who is using them, and when they require maintenance.You can also use GPS tracking to find the current location of the equipment.Tracking your equipment usage ensures that the asset is returned on time.|
|Availability Schedule||Providing availability information for a particular piece of equipment helps businesses allocate tasks and schedule equipment use accordingly.|
|Check-in and Check-out||Improve the speed and flexibility of equipment check-in and check out while reducing errors.|
|Employee Management||Easily assign valuable assets to your staff and increase employee accountability.You can issue fees to employees if the asset is returned late or lost.Manage your employee’s performance and productivity by determining equipment usage.|
|Fixed Asset Management||Track your assets’ valuation, cost, depreciation, and gain or loss.|
|Inventory Management||Store asset information and monitor their usage to anticipate future needs.You can determine if you need to purchase more equipment by analyzing a specific asset’s availability rate and depreciation.|
|Lease Management||Input and access signed leases to review their terms.|
|Maintenance Management||Track your maintenance history and create schedules for upcoming preventive or predictive maintenance.|
Record any equipment issues you or your staff may have for further inspection and repair.
|Order Management and Tracking||Input and access information on the equipment order process.|
|Reporting and Analytics||Improve your business operations by recording and analyzing critical performance data. Generate reports based on various factors, including asset values, utilization, and depreciation. Determine the downtime of equipment to ensure their quantity is sufficient.|
Equipment Rental Software Benefits
Our equipment rental software can help the middle market and fast-growing small businesses achieve their company goals and grow through 9 key benefits:
- Streamline Your Operations You need to manage several aspects of an equipment operation, such as the inventory of assets, their location, staff, servicing, and maintenance. Whether you need fleet management or you just want to maintain construction equipment, you can streamline your operations using an all-in-one software solution. Our rental software helps you manage your equipment by storing valuable information on asset maintenance, invoicing, and certificates.
- Reduce Equipment Downtime Equipment rental software offers different ways of reducing equipment downtime. Our rental software solution has maintenance management features that can monitor metrics, like overall usage, depreciation, repair schedules, and maintenance dates. These maintenance history data determine whether to prescribe predictive or preventive maintenance. Predictive maintenance can be performed during machine operation to identify and address potential issues. Meanwhile, preventative maintenance is regularly performed on the equipment to prevent problems before they occur. By ensuring that assets are adequately repaired and maintained, your equipment will have a longer lifespan, allowing you to keep earning from rentals.
- Organize SchedulesKnowing whether your assets are in use or just sitting around is critical for reducing downtime and increasing your return on investment (ROI). Equipment management software provides organization and increased transparency in scheduling. This way, you can focus on maximizing the equipment you have on hand and increase overall productivity. Using an organized calendar makes it easier to see which assets are in use and are not in use. You can also allocate tasks by viewing the calendar and identifying the employee assigned to a particular piece of equipment.
- Increase Transparency A centralized software solution increases transparency and gives you insight into your business by offering a unified data overview of your assets. This transparency helps you anticipate needs within your business and ensures better coordination between members of your team. For example, in rental operations, the finance department needs visibility on how the assets are performing and depreciating over time. Equipment rental software can provide the information they need to make smarter financial decisions.
- Generate Reports and Insights Equipment rental software with a centralized and updated information base enables you to generate reports to manage your operations and key performance indicators. You can track inventory, equipment availability, employee productivity, the life cycle of equipment, asset maintenance, and revenue in real-time. You can also get insights on the equipment with the highest demand, which one has short-term (better profit but irregular income) and long-term (steady income but less profit) renting potential. These insights will help you balance your portfolio with the right mix of high-demand, short-term, long-term, and high-rate assets.
- Provide Updates and RemindersEquipment rental software ensures that all the information your business collects is consolidated in a single place. It is easier to make decisions, and you don’t have to worry about missing anything because you can receive information updates on time. For instance, you can easily streamline your reminders to save time and money on asset servicing. The rental software solution also decreases reliance on paperwork and spreadsheets, which can ease the pressure on your employees.
- Manage Invoices and DocumentsHaving all your essential documents, such as rental contracts, billing, and invoices, in one place keeps your business more organized and secured. With a rental software solution, you can easily access information on your assets, such as purchase dates or locations. You can also retrieve insurance and warranty information on your equipment. Equipment rental software stores any documentation on your assets for easy reporting and reference when you need it.
- Schedule MaintenanceKeep your equipment running optimally by staying on top of required maintenance. Using the assigned information on your assets, you can schedule repair or maintenance to maximize their usage and productivity. You can also review detailed maintenance history logs to capture the cost of labor and parts. This information help bookkeepers and accountants complete their job quickly.
- Improve Business ProcessesBack-office software is also essential in managing, tracking, and maintaining a company’s assets more efficiently. Centralized rental management software improves processes within various departments, including finance, information technology (IT), sales, and human resources (HR). You can coordinate with other teams to save time and reduce errors. Equipment rental software helps make your operations easier, faster, and more efficient.
Magneto 2 by SalesIgniter is an open-source equipment rental software. It provides all the necessary features for businesses to successfully schedule, plan, and track their equipment rentals. The equipment rental management system offers users the ability to dictate flexible pricing models, upload signed rental agreements, and 24×7 online bookings. The equipment rental solution also has an in-built Customer Relationship Management (CRM) engine which ensures the execution of several marketing activities, such as SEO management, user reviews, and even Google Analytics integrations. The heavy equipment rental software serves a variety of industries not limited to clothing, computers and electronics, sporting goods, and movies and entertainment. Website integrations are now available for Magneto 2.
Source – SalesIgniter
The best features of Magento 2 are as follows:
- Billing & Invoicing
- Calendar Management
- Customer Management
- Inventory Management
- Order Management
- Payment Processing
- Point of Sale
- Reporting & Analytics
- Reservation Management
TradeManager by CommodityRentals is an open-source equipment rental software promising customizability, flexibility, and reliability for businesses. It needs no special training and is replete with Wishlist Management, Billing Management, and Account Management features. The online equipment rental management software services industries such as entertainment, heavy equipment, and vehicle rentals, offering a competitive advantage through cost control and fleet management, where necessary. CommodityRentals’ Rental Software for equipment is easily deployable
Source – CommodityRentals
The critical features of CommodityRentals are as follows –
- Billing & Invoicing
- Customer Management
- Inventory Management
- Order Management
- Payment Processing
- Reservation Management
EZRentOut – Equipment Rental Software
EZRentOut is a rental software suited for equipment rental operations in various industries. It comes with a wide array of features and third-party extensions for accounting, analytics, content management, user management, performing backups, and more.
With the advanced point of sale (POS) features, EZRentOut can also be used to streamline rental operations in existing offline equipment rental businesses. Furthermore, the team EZRentOut frequently upgrades its feature list to provide an agile solution to its clients.
Demo: Free trial (Need to share your information)
Case study: Available on the website
Suitable: Startups, SMEs, Enterprises
Top clients: Equimax, Kheng Sun
Key Features of EZRentOut:
- Asset management
- Inventory management
- GPS tracking
- Purchase order management
- Custom fields
- Route management
- Label designer
What Type of Buyer Are You?
This section lists common types of buyers (e.g., common industries, business sizes, types of organizations etc.) and discusses the unique considerations of each.
Small business; rentals only. These buyers are looking for the basic features to support their rental business. They want to graduate from Outlook, manual spreadsheets and paper contracts, and want to add rental management software capabilities for forecasting availability and increasing customers.
Online rentals. These buyers are looking for an e-commerce platform that supports their rental model. They want customers to rent equipment from their inventory and then schedule a time to pick it up or have it delivered. For a delivery-based model, additional capabilities will be needed to support shipping (to the customer and back to the business).
Rentals and sales. These buyers operate a traditional retail business with an equipment rental component. They want a combination of rental and selling capabilities. They need a point of sale to support selling equipment and other products, as well as a rental reservation and booking system. Total inventory for these businesses will need to be categorized based on whether the product is able to be sold, rented or both.
Large/technical equipment rentals. These buyers are renting large equipment such as bulldozers and cranes. In addition to the common equipment rental management features, these buyers need a huge emphasis on the maintenance of their equipment assets. This includes predictive and preventative maintenance that ideally leverages data fed from sensors on the equipment itself. Contractual agreements will also need to be more detailed given the liabilities of the equipment due to the highly technical and costly nature of these assets.
Enterprise. These buyers work for large organizations. They may have multiple locations and/or equipment inventories they rent. They place a premium on integrating their data (inventory, customer etc.) so that they have a unified view of the overall business.
Equipment rental software saves you money and time. When renting a lawnmower at the local hardware store, you spend money on gas, brushes, cutting tools and other add-ons. With what you save, you can buy new equipment. If you are running a rental business, you might want to consider using a property management software. It can be very difficult to manage rental properties from scratch. Unless you are very experienced in doing so, it will take much of your time to simply handle everything on your own. This is why people who run this type of business opt for property management software.
Renting heavy equipment or construction equipment can be a difficult, time-consuming and expensive process. Construction Equipment Rental Software provides rental businesses and equipment operators with software to manage their rental fleets in one centralized database.