Why implement rental booking software for your business?
Time passes irrevocably. Each minute you lose taking an order and recording it manually can be utilized in something more productive – like making a perfect sale. Additional delays are caused when you have to perform availability checks and notify the customers. But, what if you can make the process swift and eliminate the exchange of emails between the customers and booking department? That would be great, right?
Rental businesses are faced with some interesting developments these days because of the proliferation of new tech. Amidst all these changes, how can your business aim for success? The answer, of course, is to invest in technology! Below, we’ll tell you how a rental booking software can help your rental business. This includes venture increase sales, minimize workload, streamline workflows, enable multiple payment methods and take the guesswork out of executing the perfect sale!
But before we get into all of that, let’s figure out the main challenges of the rental management context.
The hesitation to implement a rental booking software
A lot of businesses in the rental space have resisted using booking systems. There were valid reasons for this resistance. One of the top reasons were that these solutions were expensive to implement across the organization. As all business owners are not tech savvy, which is why a difficult-to-use tool is not an option for rental managers. Interestingly, not all booking solutions are built for different types of business. Some of them cover hotels and property specifically. And for this reason, they are not flexible enough to cater other rental businesses.
Another issue that these organizations face is that of order management. It can be a tedious task to get everything available without missing out anything important. You have so many cogs to coordinate, equipment to manage and items to organize. It’s no wonder that rental and retail business managers often feel harried on the job!
So, how can your business overcome these challenges?
Cloud computing has ensured that booking systems are extremely easier to use. A tool with increased flexibility to cater your business needs, and streamlined order management module that enables you to make stress-free bookings.
Traditional brick-and-mortar retailers have also been catching up on the sales potential of online sales. In 2017, brick and mortar rental generated 390 million U.S. dollars. In 2016, the leading e-retailer in the United States was Amazon with 46.66 billion U.S. dollars in e-commerce sales of physical goods in the United States.
Rental businesses deal with a lot of customers. They can generate a great deal of value from software or online programs built to optimize their experience. For example, they could benefit from a solution that helps them send out marketing emails en-masse, or use one of many bulk email verification services to ensure their messages are being sent to the right people.
In the same way, having an online booking system is a must for any business that deals in rentals. They can save additional costs that are spent on answering numerous phone calls, managing orders manually, sending emails, or hiring more staff to handle the workload during peak season.
It’s no easy job to figure out what tool works best for your business. But once you have shortlisted the right one for your business, trust me, you can achieve many benefits. The one that tops the list is that it enables you to increase your bookings – after all, that’s the end goal.
Read more: Understanding Online Rental Software: Benefits Of Moving Your Rental Business To Cloud
Benefits of using rental booking software
You are closed for today, but does that mean that customers will have to wait until tomorrow to make a reservation? No, definitely not. The primary purpose of implementing an online rental booking software is to make your business functional from anywhere, anytime. Without a solution in place, you are like a leaky pipe which keeps dripping your sales. As per a survey, a dramatic increase has been seen in sales on a product’s immediate availability while shopping. That’s what a rental booking software does for your business – it automates the process and you no longer waste time on finalizing a sale manually. All this is done with speed and accuracy.
Did you know? In spring 2017, the number of internet users who managed online travel reservations (airline, hotel, auto rental, etc.) on a computer amounted to 50.55 million within a period of 30 days.
2. It simplifies online booking processes
The more ways customers can book reservations, the more bookings you’ll receive. A rental booking software is capable of processing bookings from a variety of locations, as well as recording the essential details from the customer’s reservation to your availability calendar. Rental businesses find it a daunting task that they have to manage periodic and long-term rentals. As these require scheduling orders on different time periods and involve drafting invoices. For example, when an RV is leased out for 6 weeks with weekly payments, comes under a long-term rental scenario. With a booking system, you can set up recurrences for items that are rented out for long periods. If your online booking software doesn’t have this flexible functionality, you’ll miss reaching potential customers; because they want the process to be smooth and simple.
3. It minimizes your workload and stress
Who says rental management has to be stressful? Automation simplifies the processes involved in order management. If your business is taking over your life and consuming all that time in managing equipment and emails, then an online booking software is your solution. You have the benefit of managing all your bookings from a central point. You can keep track of all your equipment, learn from past orders, and most importantly, do all this within your budget. What about the staff? Assign them tasks and orders within the same software and reduce the headache of running your business from you. Generate revenue by showcasing your products online and let e-commerce do the rest.
Did you know? During the year 2015, clothing and clothing accessories stores generated 4.1 billion U.S. dollars through e-commerce.
4. It integrates with multiple payment methods
Other than accuracy and speed, a rental booking system must be flexible and customizable. For rental businesses to succeed, they must offer multiple payment methods that make rental bookings easier for customers. Obviously, if you’re moving online then cash isn’t the ideal mode of payment. A robust equipment booking software has the capacity to integrate with other applications that are frequently used for seamless work operations. Such applications may include point of sale, accounting, and customer relationship based tools that are widely used in an organization, particularly in retail businesses. You can charge payments by cash, cheque, credit cards, etc.
Read more: 5 must-have Equipment Rental Software features to harness Point of Sale
5. It is mobile-friendly and works on-the-go
60% of online bookings are now done using mobile devices, reflecting the trend that internet users are spending their time more on smartphones and tablets. Access to customers’ data has also become an increasingly difficult task, especially when it is stored in a single location. You cannot access any data stored on a hard drive from a location away from your computer. A cloud-based rental software tells a different story. It protects you against human errors and does not restrict you to access your customers’ data. How? Because everything is stored online, on the cloud, and can be accessed from any digital device.
In addition to this, a mobile app can allow you to stay updated on the go, improving your response times and helping you pull off an order perfectly each time. So invest in the right tools and make efficiency a regular thing!
6. It automates the maintenance sessions for equipment
Businesses often ignore the importance of equipment maintenance management. Effective equipment rental management involves taking care of the smallest details and not leaving anything to chance. A single mishap can cause your equipment rental or sale to go sideways in an instant. When you conduct routine check-ups, you are able to assess and design specific maintenance programs for all your assets. Businesses can automate all this using cloud-based equipment booking software. Nothing is more important than having all your equipment fixed and ready to go in time for the booked order. By choosing the right tools for your business, you can book your orders without inconveniences and unpredictability!
Choosing EZRentOut as your trusted rental booking software
An equipment rental booking software refers to a tool through which you can centralize a lot of crucial activities relating to rental management. From managing bookings, procuring order-related items, scheduling repair sessions, keeping track of where they are located. You can also identify the availability of equipment on specific dates, etc. This and more can be done in EZRentOut.
You can also use a mobile app to carry out Barcode and QR Code scans, enabling you to rent out items and log them back quickly when returned. Not just this, but at the end of every peak season, you can run different reports on these items to do a quick trend check. EZRentOut is that solution that caters them all, whether you are a rental or retail business.
Share your queries about our equipment rental booking software
Without a doubt, a retail and rental business comes with challenges and unique needs. A rental booking software that addresses these needs is not just useful – it’s essential for your business. EZRentOut is a rental booking system, used extensively by organizations and small businesses globally.
It comes with a bundle of awesome features. These can be used for streamlined rental management to increase business productivity and revenue. You can try out our online rental software by signing up today for a free 15-day trial. For more assistance, drop us an email at support@ezo.io.
