There are many good reasons why renting equipment instead of buying them. Companies can avoid maintaining large fleets of machinery, and if anything breaks down or get stolen, often the renting company can provide a new replacement machine, keeping the down time to a minimum.
When dealing with different types of machines from various brands, tracking them all when renting them out can be tricky. Some machines come with built-in tracking systems, some don’t, and others might have tracking devices from a third party. So, how can you keep everything in check?
Collecting data from your equipment will save you time and money
1. Make sure the contract’s being followed
Let’s say you’re renting out an asphalt paver. It wouldn’t be very fun if it was being used for personal projects or rented out to someone else without your permission. By tracking data, you can easily spot if something’s off. If a machine is being misused, you’ve got the proof to charge extra fees or even blacklist someone who keeps breaking the rules.
2. Keep machines safe and running smoothly
Sometimes your equipment can be misused without you knowing it, and the only way it shows is through the increased number of service intervals. If someone is using the machine on weekends, it could need a service check sooner than expected. To avoid this, you need to know how much and when your machines are being used. This way, you can keep your machines in good shape and avoid unexpected breakdowns that could mess up your projects.
3. If something goes wrong
If your equipment gets stolen or involved in an accident, tracking data can help you get a clearer understanding of what has happened. With all the info on where the machine was and how it was used, it’s easier for the police and insurance companies to figure out what happened.
4. Find stolen equipment faster
If one of your machines goes missing, it can be a huge hassle. But with a GPS tracker, you’ve got a better chance of finding it quickly. The faster you recover it, the less downtime you have. And if you find it quickly, you don’t have to rent another machine at a higher rate. No one wants to deal with the headache of losing equipment and having to pay extra to replace it.
5. Build trust with your clients
When you can show your customers that you’ve got a handle on your equipment and you’re making sure it’s well-maintained, it builds trust. Knowing how and when machines are used gives clients peace of mind. It also helps you stand out from the competition, and it could lead to more business down the road.
Start the data collecting process as soon as possible
There are a lot of different products and services you can use to start collecting data in whatever you are renting out. Most of them have easy-to-use integrations that automatically send data to a central dashboard where you can collect data and insights. If you go with the right setup, you’ll have all the info you need without any extra work.
At GSFleet, we create products that help rental companies get more control and make better decisions to grow their business. Check out our GPS tracker and our Fleet Management solutions to learn more about how we can support you.
