Equipment Rental Management - Asset Tracking Technology

Equipment Rental Management

Faster, easier and more accurate decisions with asset tracking technology

Overcome challenges with digitized asset tracking

Asset tracking that provides intelligent rental asset data can create seamless business processes that lead to instant and remote visibility, informed decisions, empowered crew, superior customer interactions, and a better bottom line.

With tasks that include quotations, analytics, cash flow management, equipment lifecycle monitoring and asset/fleet management, visibility across the board is key to achieving operational efficiency. 

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At ground level, field operators struggle with deploying assets quickly due to paper-based processes. While manually verifying invoices, they find themselves in disputes with customers due to missed rental days and often end up underbilling.

This revenue leakage is compounded by slow processing of equipment quality post-return or missed maintenance checks. Visibility challenges also make it easy for equipment to be stolen. Only 23% of lost assets from theft in the construction industry are recovered.

Intelligent asset tracking technology enables fluid visibility on asset movement and days on site. It creates transparent tracking systems that can be shared, ensuring everyone—the rental company, the customer, and third-party suppliers—works off the same page, with no surprises to stop revenue leakage.

Rental companies often have a portfolio of assets that consist of rented equipment, fully purchased equipment, or a combination of both. How can rental company owners find that perfect balance of rental and owned equipment for their operations?

Without intelligent asset data, a rental company may not be able to see the ‘popularity’ or ‘unpopularity’ of certain assets to balance their fleet. This can lead to increased operating costs and a lower return on investment.

Using technology to track assets allows you to have instant access to asset location, asset usage, and rental intelligence. You can make informed decisions on asset acquisition, ‘right-size’ your fleet and optimize asset deployment.

When field operators are not able to monitor the use of an asset over its equipment lifecycle, they are unable to optimize its use, understand its lifespan and know when it is ready to be retired and disposed of.

The lack of visibility in an asset’s maintenance background means that field operators cannot easily pull up compliance certificates or release an asset to a new customer. This not only hampers scheduling plans, but it can create further issues downstream—unexpected breakdowns, having to send maintenance staff to a customer’s site, increased costs, and unhappy customers.

Intelligent asset tracking pre-warns you of maintenance appointments, processes around returned equipment (inspection, cleaning, and fueling), and can pull up compliance certificates to be viewed and shared with customers. You can schedule assets, reduce risk, keep staff on value-based tasks, and increase profitability.

Rental Industries We Serve

  • Oil and Gas Services – Onshore
  • Oil and Gas Services – Offshore
  • Construction Rental
  • Maritime
  • Energy and Utilities
  • Waste Management
  • Forestry
  • Infrastructure Development
  • Mining
  • And More…

Assets We Track

  • Tanks
  • Trailers
  • Containers
  • Excavators
  • Light Towers
  • Generators
  • Skid Steers
  • Rigging
  • Cable Spools
  • Buckets

With so much inventory and so many remote locations across the country, we were struggling to keep track of our assets. A bridge can cost up to $350,000 to replace; we needed a reliable solution for tracking them.

-Justin Nelson Sales Representative at Northern Mat & Bridge
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