Equipment Rental Software for Retail Businesses
Equipment rental software can be an all-inclusive ingenious solution to use if you want a bigger revenue of the retail business market. Rental management for retails businesses can be a daunting task.
The rental industry is increasing in scope every year. There are challenges a retail business has to deal with efficiently. From working out on the latest rental trends, setting up seasonal pricing, renting equipment at the optimum level, and showcasing the products online in the thriving retail industry. The best online rental software should be able to understand this and provide you with omnichannel support to increase your rental revenue.
Read on to know the top 3 reasons why a rental software is best for your business:
One: The Need for Simple-to-use Solution and Rich Features
Online rental software comes with unmatched simplicity and flexibility. The best solution is one that hits all the right notes. You cannot have a complex system that only tech people can use – it has to be compatible for all industries, from technical department to the layman, easy-to-use and accessible to all the users. Cloud-based solutions are easier to use as compared to on-premise tools. You don’t need an administrator or separate staff to operate it. All you need to do is sign up for a subscription and set up your data in minutes. It is automatically upgraded with no hidden costs and you won’t need to train your staff members.
Equipment rental software comes with an extensive asset management module and supports inventory management for the stock that you sell via retail stores or online storefronts. The booking module helps you nail down complicated orders with perfection every time – without the hassle of booking items with reservation conflicts. Something a retail business cannot afford in the process of achieving higher revenues. You can use the pricing system to customize pricing for items, set up different pricing rules and create coupons as per your retail business needs. Bundles come in handy when you are planning an event. You can combine together different items for organizing event stages or record live sessions by prominent speakers.
The maintenance management module saves time and money of a retail business. It enables a business to track unavailability of an item and keeps them well-maintained, helping a business retain customer satisfaction and improve ROI. A rental software also supports barcode and QR code designer that helps businesses label items in different sizes, styles, and formats with detailed information about the item. Invoice management is very crucial for any business and a rental software makes that part of its system as well. You can create custom order printouts that best suits your business. All this and more features can be offered in an efficient equipment rental software.
Read more: Why Rental Management Software makes sense for Small Businesses
Two: The Need for Customization and Integrations
Rapid business growth depends on having the right rental equipment at the right time. To achieve that in the retail business, you need to stay in the know and be proactive to meet customers’ changing demands. This requires a solution that can be customized as per your business model. A solution that can be molded to fit your business requirements and trends. From having customizable features to custom views – rental software must able to incorporate all!
The custom fields in a rental software will enable you to capture additional information for your equipment e.g. for bikes, such as weight, terrain specialty, gear options, etc. You can also customize professional-grade QR Code or Barcode labels with details such as your very own company logo. When it comes to using the tool, you can define what you want to see and how you want to see it. You can customize the listing pages and configure which details to be listed in these custom views.
A robust rental equipment software not only helps retail businesses manage equipment, orders, and customers but also manage the many complexities that come with running a business. For retail businesses, the go-to application must have the capability to integrate with third-party applications that may include tools like accounting, CRM, point-of-sale solutions, multi-login functionality, document storage, and even rest-based APIs. For example, accounting software integrations allow these businesses to easily sync and track invoices, payment gateways enable them to record the transactions on both platforms i.e. equipment rental software and third-party payment solution.
Read more: Benefits of Third-Party Integrations with Online Rental Software
Three: The Need for Better Rental and Order Management
Retail companies are adopting online rental software to streamline their sales processes and increase transparency. Your employees are able to monitor, update and track their inventory stock, while end users are able to easily locate and rent equipment online. The online platform supported in this system automatically manages financial transactions and email correspondences with customers without the need for separate documentation and employee intervention.
This software allows companies to configure and generate an online storefront for their business – best to showcase your products for the customers. Equipment rental management software is a simple yet powerful tool that rental companies can use to manage their online presence. It ensures you experience streamlined order tracking and rental inventory management – to ensure that both your point-of-sale and backend operations run smoothly.
More than having the right rental equipment, achieving higher growth requires the need of right insights for a true competitive edge. From customer service, marketing, and selling skills to managing teams and finances. Effective team collaboration leads to smart business decisions. Without a proper tracking system, orders can be a handful of work for you. Knowing how many orders did ‘Employee A’ booked and which orders were not fulfilled by ‘Employee B’ can highlight the performance of users and ensures that no order is left out next time. Stay updated with alerts – don’t let ineffective team collaboration create a bad image for your retail brand.
Choosing the Best Equipment Rental Software for your Retail Business!
There’s no denying that the big picture has changed for the retail businesses and the need to have a solid online rental system is inevitable. Small businesses need to be able to amplify equipment optimization, improve customer relations and ensure flexibility within the organization. Equipment rental software can help businesses with a lot of features for running a retail store with maximum revenue.
Keep it fun, simple and profitable with equipment rental software that handles all the boring logistics for you. Go for a solution that simplifies the complexities of rental processes for you, supercharges your order management, and puts you on the right competitive curve where your business needs to be!
More on Equipment Rental Software
EZRentOut is the leading equipment rental software that is easy-to-use. It comes with a bundle of awesome features making your rental experience even better. It’s a flexible solution for businesses that think nothing meets their requirements. We’ll mold our solution to your workflows – the way you like it.
For more assistance regarding our equipment rental software, drop us an email at support@ezo.io.
