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Over recent years, telematics has gained increasing popularity amongst rental businesses and has taken the industry by storm. But what is telematics and how can it benefit the rental industry? Formed by the words ‘Telecommunication’ and ‘Informatics’, telematics consists of a wide range of technologies, used together to monitor, transmit and receive fleet related behaviors such as longitude, latitude, machine health, battery life, meter readings, hours of operation and job site safety.

Equipment theft is an ever-present problem rental businesses are faced with. Regularly investing large amounts of money in new equipment and machinery presents numerous risks in itself, let alone adding the worry and burden of equipment being stolen. It’s incredibly important for businesses to consider putting precautions in place to help prevent theft, as well as make it easier to recover equipment.

Automating delivery memos, emails and other work communication is key in minimizing the chances of things “slipping through the cracks”. So how can automation make your business run smoothly?

You thought a single-vendor integrated software solution would be the best choice for your rental company, calculating that it would save you time, money, and angst; but while it helped one aspect of your business perform particularly well like finance, it left another, say operations, struggling. At a crossroads, you considered buying Rental Operations-specific “Best of Breed” (B of B) software from a rental specialist solutions provider, but you became apprehensive about the costs and complication of integrating it into your system.

Listen

Successful, sustainable businesses understand when to lead and when to listen – to clients, to customers and to themselves. A well-informed customer help desk that understands the product they are representing, inside and out, ensures that customers can ask questions and receive valuable feedback. Ask clients and employees for their input on experiences and company protocols; they may very well offer up some brand new perspectives that will move your business forward.

Data determines decisions. The fastest, most accurate information leads to the most efficient, effective solutions. With the recent emergence of the cloud and mobile software, companies are processing real-time data and applying it in some exciting new ways. All this information not only needs quantifying, it must be stored and displayed in a simple, fast and easily-accessible format.

Dashboards provide the insight and interface needed to operate and expand businesses to their fullest potential. As companies grow, so should their dashboards. The right software accommodates your needs and expands and adapts along with your business, impacting everything from the boardroom to customers in need of reliable service.

Momentum isn’t just the applicable “mass x velocity” understanding. Ongoing success can be just a pendulum swing away when applying the principles of building momentum right into the blocks of your business. It doesn’t have to take much to get the momentum going, and once you have it – successes become easy wins.