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The growing trend of telematics technology in the rental industry


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Telematics is a technology based on the global positioning satellite system that is in the process of being adopted into the modern equipment of the future. It offers increased profitability and efficiency for equipment owners and fleet managers. It helps you to provide the locations of the equipment. Additionally, it gives you a detailed analysis of its operations and fault codes. The technology is very helpful for rental companies because it assists with delivering the equipment on time to the customer. You will increase utilisation rates, save time, and have live updates on the location of your assets.

Construction equipment rental market

The construction equipment rental market falls under the service industry for a variety of products. Ranging from machinery of all sorts, equipment, and tools for a limited period of time for end users. On average, the market is operated by suppliers who buy or provide equipment or machinery to the construction companies for a certain timeframe.

The rise of construction is evident all over the world. Not only in developed countries, but also in third-world countries, where much of the investment comes from other places. Research by the upcoming industry on the construction equipment rental market will help to develop sustainable growth for the years to come. Also, one of the major factors we need to consider is the replacement of outdated equipment. Due to the growth of the construction equipment rental market, it is unavoidable that outdated equipment will need to be replaced. This compels players in the construction industry to rent construction equipment instead of buying it.

Telematics
Image: Using telematics is becoming more important and popular in the construction rental industry

Managing service and transportation

The key question you need to ask yourself is how are you going to manage the service and transportation of the construction equipment? DynaRent offers all these functionalities and more. It will prepare you for what is to come in the future and manage every business process smoothly. And with the right tools, you have a perfect overview of what equipment is available, wherever it is located in the world.

For example, DynaRent excludes certain equipment you want to rent out within a particular timeframe. For instance, when it is located on a location that is too far away and could not arrive on time. This gives you insight into how you need to spread your equipment. Furthermore, you can make arrangements with another company close to your customer to sub-rent something to them. But with DynaRent, you could still add that sub-rented item to your virtual fleet to perform maintenance on it.

The functionalities within DynaRent are endless. If you would like to know more about what the telematics in DynaRent can do for you, please send us an e-mail for a demonstration info@highsoftware.com or visit www.highsoftware.com

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