3 Top Challenges to Digital Transformation in the equipment rental industry

If there’s one thing everyone can agree on about digital transformation, it’s that change is constant – and happening faster than ever before. One other thing that we can agree about is that these changes are inevitable for any industry your company is operating in.

Image 1: Challenges to digital transformation in the equipment rental industry

Digital transformation is moving fast in the equipment rental industry as well. Rental models for equipment are morphing into services-oriented approaches where customers only pay for what they use. Digital transformation is key to your company’s ability to work with service-based models and stay competitive and profitable.

What are some roadblocks rental industries come up against when they beging working with the digital transformation shift? At HiGH software we’ve found that equipment-driven companies struggle with:

• Legacy systems
• Lack of collaboration
• Lack of data analysis

Image 2: Data challenges to digital transformation

In many cases, IT department and IT systems get mired in costs and complexity when it comes to rethinking their platform approaches. That prevents them from looking at how innovation and improvements to business practices could improve their long-term revenue stream.

We’ve found that companies can take a streamlined and methodical approach to moving through cost and complexity so that they can make smart decisions about digital transformation. Simply put, they need to:

• Understand customer behavior
• Change company culture to accept specific innovations
• Get a solid ROI calculation that justifies costs

Image 3: Overcoming challenges to digital transformation

Are you curious how HiGH Software plays a proactive role to help customers embrace digital transformation? Please contact to discuss at [email protected] or visit www.highsoftware.com and see what we’re doing!