Let’s have a look at a common rental business process that occurs on a daily basis at equipment rental companies: the sub-rental process, also called the re-rent process. In today’s article, we would like to show how DynaRent for Dynamics 365 for Finance and Operations supports you in creating sub-rentals in the system. At the same time, it helps you to monitor your margins and automatically evaluates whether they are healthy or not.
For example, you have a customer on the phone. He has told you what he needs and when he needs it. But when you check the availability you discover you cannot give him what he is asking for. You need to re-rent to keep him happy because he’s one of your best customers, so what happens next?
Take a look at what already is in place at this stage
You are in the middle of creating a rental order. You have your customer information: his work location details, what he wants, and the dates he wants it. All the important information is already there. So how can you create your re-rental with the least effort, especially if you want the paperwork sorted for your supplier at the same time?
Image 1: sub-rental process in DynaRent
In just two clicks, you can initiate the sub-rental process in DynaRent
When a new form is opened, details, such as the primary vendor related to the requested equipment, are already set. The only thing you need to check is the margin, which nowadays is more important than ever.
DynaRent automatically monitors the margins between your rental order and sub-rental order. At the same time, it will inform you proactively about the positive or negative status. All of this is based on the margin levels you have configured in DynaRent.
Image 2: Creating a sub-rental
When you create the sub-rental order, it pulls all the information from the rental order. Details you entered in the above dialog will be set, and you can confirm the sub-rental to your vendor.
And there’s more… advanced sub-rental workflow management
Of course, you might also want to initiate different workflow processes. Think, for instance, about approving a specific sub-rental that has a cost value above a certain amount. Or a request for specific equipment that (because of its complexity) needs to be checked by the rental manager. These are common tasks that might be relevant your equipment rental company, all of which are also configurable in DynaRent.
Curious about our DynaRent rental management? We’re more than happy to provide you with a tailored demonstration. Please contact us at email@example.com and see what we’re up to!