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Malcolm Roach, Open Door Technology Inc.

Answers from a Rental Software Expert: Rental Industry Growth, Pains, and Solutions


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After our time at Las Vegas for The Rental Show, I was interviewed to show what I took away from this year’s event. In a nutshell, I took away a LOT more than sleep deprivation…

  1. What was different at this year’s Rental Show? I think the biggest thing is that the economy seems to be recovering.  The rental show was probably twice as big this year as two years ago. This definitely validates the stat from the American Rental Association that the rental industry is expected to increase 71% by 2016…We could literally see this growth happening at the show this year.
  2. How do most rental companies manage their rental assets? Mid-size organizations use a variety of tools available in the market.  Smaller organizations use QuickBooks for their financials and manual processes/spreadsheets for rental tracking, which is where the pain points come in.
  3. Was there a consistent pain point for managing rental assets? Companies don’t have enough reporting capabilities. They’re unable to track equipment, such as where it is, whether service has been made or what type of profit they’re making from it. They also are unable to see all-up financial information because of disconnected systems and manual processes.
  4. What is one thing people wish they had to manage their rental assets? People want and need system integration to track equipment availability and process invoices in real-time.  With that capability, organizations can maximize their equipment profitability, improving the state of their business.
  5. What is one new thing you learned while at The Rental Show? There is an amazing variety of equipment and businesses in the rental industry. This year’s rental show brought that to light for us, making it even more exciting to work with clients in this industry.

If you’re a small to mid-size rental organization dealing with disconnected systems and/or manual processes to track rental equipment, watch this demo to see how we can help you solve those pains. As an American Rental Association member, we are dedicated to helping rental organizations streamline their tracking and financial capabilities with real-time accessibility. Contact us at Open Door Technology to learn more: http://www.opendoor.ca/links/contact/.

 

By Malcolm Roach of Open Door Technology, a Microsoft Dynamics NAV Partner based out of Calgary, Alberta (http://www.opendoor.ca/)

 

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