5 Questions That Will Help You Choose The Right Rental Management Software for Your Business
Rental management software helps business owners perform a variety of daily tasks to help rental transactions run smoothly. These tasks might include everything from managing and tracking customer information to streamlining processes to ensure that customers have the best rental experience possible.
Rental software also simplifies daily tasks by automating activities such as rental payments and tracking income/expenses to help you increase your revenue and boost your efficiency. But how do you know which one will work best for your business?
Below you’ll find 5 questions you should ask when choosing rental management software:
(1) How’s The Customer Support?
Switching rental management systems—or implementing a new one for the very first time—can be overwhelming, especially since you’re too busy to be parked on the customer support line throughout the learning curve. That’s why it’s important to choose a provider that offers exceptional customer and technical support to make the training experience go as smooth as possible.
Consider the type of support you’ll need. What are the provider’s support hours? Does the provider contact you by telephone, instant messaging or via email? Are they willing to offer online training?
Review screenshots and take advantage of free demos to determine if the rental program’s user interface is intuitive enough for you. This will give you a better idea of what level of training and support you’ll require. Then make sure the provider can offer the assistance necessary to meet your unique needs.
(2) What’s The Level Of Integration?
Rental software should be convenient for customers and retailers alike. With cloud-based rental management software, you should be able to answer the call for both. Not only will customers easily be able to create rental reservations in your store, but the cloud-based system will also ensure that inventory availability is adjusted in real time so customers know they’ll get what they signed up for.
With all-in-one programs like Rain POS, managing rental equipment is a breeze. Since the rental system’s integrated with your point of sale, inventory availability, customer accounts, reservations, deposits, late fees, waivers, and checkouts are quick and efficient.
The ultimate goal here is two-fold. First, to choose an inventory management system that pulls your data from one place, so everything is always in sync. Second, to select a cloud-based rental management software that will allow you to access your information anytime—from anywhere—so you always have your finger on the pulse of your business transactions.
(3) Does It Encourage Growth?
Does the rental management software you’re looking into allow you to add and reduce users as you experience employment fluctuations? You’ll want a rental platform that offers the flexibility to adjust user counts and other vital details as you grow. With rental management platforms like Rain POS, there are no restrictions on the number of users, customers, or products you can add, so you never have to worry about outgrowing your rental management system’s capacity. Plus, you can establish permissions for each user.
What innovations is your provider working on that will help your company grow in the future? Are you able to submit feedback on the rental software’s features, along with ideas for changes that would suit your business needs? Look for a provider that offers a customer channel where you can pitch ideas and make requests. This demonstrates that the company behind the rental management product is willing to listen and grow along with your business and the industry.
(4) Will It Let You Cater to Your Customers?
When a customer pays a visit to your store to see whether your gear is available for a specific date, you’ll want to have the capacity to quickly check the availability status and provide instant answers that will secure the rental.
Rain’s all-inclusive, integrated POS system, for example, pulls your data from one place, so everything is always in sync, giving you and your customers an accurate view of available inventory or rental equipment. And because the cloud-based software is informed by real-time data, you’ll always know the current state of your inventory and rental statuses as long as you have access to the internet. This will help you provide a smooth, streamlined rental process for your customers.
What sort of rental experience do you want to offer your customers? Do you want them to feel more like old friends than customers? With software like Rain POS, customer information is collected and stored on the customer card. When a previous customer returns to rent again, all of their data is auto-filled and can be adjusted if needed.
Look for rental management software that will give you the flexibility and capability to cater to your customers’ needs so they’ll want to rent from you again and again.
(5) Can You Trust The Software & Provider?
While it may seem like an obvious point, you need to be able to trust the rental management system you’re considering before committing to it. Additionally, it’s vital that you know the people behind the company—the ones who will be providing the support and training you and your employees require. Take some time to examine the following points before making your decision:
- Is the provider known for being reliable?
- Is the provider open about future innovations they’re working on that will help you grow your business?
- Is the provider transparent about their financial standing, work history, vendor relationships, etc. to help you gain greater insight into their brand’s operations and set your mind at ease about potential risks?
- Does the software provider have a good reputation within your industry?
- Can they provide 2 or 3 references of customers currently having success with their rental management software?
Don’t skimp on due diligence! Find out as much about the company as you can before moving forward with your purchase.
Choosing the right rental management software for your business can seem a bit overwhelming because there are so many things to consider in order to make an informed decision. Hopefully, the 5 questions listed above will make your search for an awesome rental management system a little easier.
When you’re ready to take your rental business to the next level, contact RainPOS for a free demo to see how our rental management software can boost your efficiency and increase your revenue!