In the equipment rental industry, customers may opt for the project model rental instead of an individual rental. The project approach for rental would have to include the type of assets, the allocation and usage hours, the overhead allocation of service and storage, and the immense extent of logistics and planning required.
With a comprehensive solution, you can plan, monitor, and control projects, manage resources, match forecasts with actuals, overall portfolio management, time entries, billing and invoicing, self-service, and document management. You would need a solution to align the multiple requirements and variables throughout the lifecycles. What is more, you also need to option to include the small or sub-projects which are part of the project.
The amount of real-time information required can be confusing. The solution needs to ensure that the information is easy-to-consume so that you can make quick and cost-effective decisions. You need a solution that can draw data from all the aspects of your business to provide insights to all the personnel involved. Industrial projects would require you to create rental quotes that have to be accurate and detail-oriented. For instance, it has to include heavy and small equipment, consumables, labor, and transport. You also need to factor in the sub-projects, fixed rate, and billing for materials. With the right solution, you can balance costs, revenue goals, and competitive pricing.