Zoho Rental Inventory Software for your growing business
If you’re in the rental business, no matter what that entails, you likely have a few chief concerns other than running your business. One of those might be simply finding the right rental inventory management software for your company to use. After all, running a business that manages equipment rentals or subscription items involves things like:
- Accounting for depreciation
- Tracking equipment location
- Managing repairs, including the cost of replacement parts
- Setting up subscriptions and sending recurring invoices for rentals
Even if you have some parts of your business (CRM, manufacturing, etc.) down pat, not having solutions for these essential parts probably doesn’t engender much confidence – in your team or in yourself.
Know this: It’s not your fault. You weren’t in charge of building the software your company uses.
Software manufacturers may be great at designing programs, but they may not always know what use cases or issues their customers have.
You deserve proper rental inventory software, not something that doesn’t address your issues.
With real rental inventory management software, you and your team will feel more organized immediately, and you can get the confidence in your business you always envisioned. FieldTech, built on the Zoho Creator platform, can be that catalyst to give your business the extra push it needs to propel it forward.
Features of the FieldTech Zoho Rental Inventory Software
- Accounts for depreciation of assets over time via values and factors you can set yourself.
- Tracks location of various equipment via relationship to Deals/Potentials inside your CRM.
- Gives you a dedicated module to manage equipment repairs, which makes the equipment unavailable for check-out or use.
- Allows for setup of subscription invoices related to use of your equipment.
- Integrates with other FieldTech software, like the SmartScheduler, Inventory Management, and Job Costing.
- Connects with other Zoho software, like Zoho CRM, Zoho Subscriptions (and other finance apps like Zoho Books and Zoho Inventory).
- Integrates with third-party apps like QuickBooks Desktop and Sage 100 ERP – and others.
How this rental inventory management software works
This software is designed to go hand-in-hand with other FieldTech apps to manage your rental business. However, you can also use it on its own if you choose to do so. A typical use case might be as follows:
You deliver a customer a quote for renting something of yours. If the quote is complex, you might use something custom like the FieldTech CPQ tool in order to account for labor and materials. (For example, building something completely custom to rent, or augmenting a standard piece of equipment for a particular customer to rent).
If you need to do any manufacturing work before delivery of the rental item, you’ll probably give your shop a production order and manage your manufacturing process through dedicated manufacturing work order software.
Regardless of whether or not you need to manufacture anything related to the rental item, you may collect payment at this point. This could be in the form of a physical or online transaction.
Delivery of equipment
Now, you either wait for your customer to come into your store to pick up the equipment, or you deliver it to them. If you deliver the product, you likely use some sort of automated dispatch software to assist with this.
At this time, you’ll have your customer sign off on the terms of use for your equipment, then you’ll set the system up to generate invoices on a periodic (usually monthly) basis for use of the equipment. You can do this automatically through Zoho Subscriptions, or something similar. Once your customer has accepted your terms or paid you, the system will mark the rental item Unavailable so it can’t be checked out by anyone else.
Here is where the rental inventory management software really comes into play. At this point, after the customer has possession of your rental item and paid you, you can manage all aspects of the rental, from tracking its location, its depreciation, as well as track payments related to it.
When the rental item is returned to you, the recurring invoices will stop and the subscription you set up will end. Then, the rental inventory software will change the item’s status to Available so it can be checked out again.
FieldTech: an entire family of industry-specific apps
If it wasn’t obvious already, this rental inventory software connects with lots of other business apps. Some of those are part of FieldTech itself, others are part of the larger Zoho ecosystem. And, others still are third-party apps. The sky’s the limit!
FieldTech itself includes these apps:
- CPQ (Quoting)
- Assisted job dispatching
- Work Order management
- Production (Manufacturing) Order management
- Inventory management, including rental inventory
- MRP
- RMA
- Commission calculator
The best way to use this software? Start with an assessment.
You can use this software in a number of ways – you can even customize it in ways we haven’t discussed here. And for that reason, we always find it best to get to know the people who plan to use it. After all, you know your business intimately well, and we know our software just the same. When the two meet, we can deliver you something that truly works for you. And, you can deliver even more, better, or faster results to your clients, making them appreciate you that much more.
Start today! Get an assessment for rental inventory management software by using the form below.