Why Rental Software is Perfect for Internal Equipment Management

Most large companies have small teams who use equipment to achieve tasks during the working day. Whether it’s equipment for shooting videos, furniture for events, or even vehicles. There is much equipment...

Most large companies have small teams who use equipment to achieve tasks during the working day. Whether it’s equipment for shooting videos, furniture for events, or even vehicles. There is much equipment shared internally within a company, and it needs to be managed. That’s why rental software is the perfect solution for internal equipment management.

For a long time, companies have operated with pen and paper, spreadsheets, and outdated software, and these can be good. However, they leave a lot of room for error and can often confuse other staff and departments. So, it is best to have a solution that is easy to use and accessible while automating time-consuming tasks.

It may make sense to go with software designed specifically for internal asset management, but it will often be lacking. On the other hand, rental software caters to a broader range of business needs and is more flexible in adapting to individual needs. This opens up businesses to a wider range of possibilities and helps streamline everyday workflows.

Let’s look at the benefits of using rental for internal equipment management.

The benefits of rental software for internal equipment management

1. Know what you have and where it is

It can be difficult to get an overview when you’re managing a considerable amount of equipment. Over time your inventory grows, and if you don’t have a centralized system, keeping track of everything can be challenging. It is especially vital to have this in place because you need to know your equipment’s value. It’s probably higher than you imagine.

Once you know what equipment you have, it’s easier to know where it is. Treating equipment loaning like rentals gives you an airtight overview of what equipment is available, where your equipment is, and who has it. In addition, this allows you to know how often equipment is used, who uses it the most, and when it is most likely to be used so you can plan.

2. Reduce human error

Often, when multiple people use the same equipment and log it on paper or with spreadsheets, it can be hard to keep track. This leads to people having equipment when someone else needs it, equipment going missing temporarily, or even equipment getting damaged. Having your inventory and checkouts in one place can help solve this problem.

Rental software with a booking system that automatically reserves equipment and allows you to find it reduces human error quickly. Not only does it help keep everything organized, but it also helps minimize confusion and leads to more effective planning. Never again will a colleague have the equipment you needed for a project planned far in advance.

3. Increase accountability

Another benefit of seeing who has your equipment and where it is is increased accountability. This is great for ensuring people return equipment on time, tracking down who had equipment last, and maintaining a proper order. Without accountability, the chance of loss, damage, and theft is much higher as you can’t track it definitively.

In addition, it will also help you to address underlying issues. It can help you track down any problems within your team. For example, if the damage is caused by an employee who didn’t receive the proper training. In which case, you know to review your training process to avoid accidents and annoyances like this happening in the future.

4. Spend less on equipment

Companies try to ensure they have the right equipment available by simply buying more of it. However, this is often inefficient and a waste of funds. You can track accurate information about what equipment is used the most, how it is used, and work out the most effective solution—saving you both time and money in the long run.

This also allows you to make smarter purchase decisions in the future. For example, your equipment will undoubtedly need to be replaced or upgraded over time. You’ll want to know what products are the best to use. By keeping track of usage and equipment failures, you can make an informed decision about the best brand and equipment to purchase when the time comes.

5. Access from anywhere

The mark of a truly great software solution is its ease of use and accessibility. You need to be able to access it from wherever you are, and cloud-based rental software provides that solution. Every member of your team can access it from their devices, whether logging in on a desktop browser or a mobile device like a smartphone.

Having access to multiple devices also opens you up to better workflows. For example, you can use your phone to scan employee ID cards or QR codes on equipment. This allows you to accurately check out equipment and aids in keeping track of precisely who and what is used. Meanwhile, having access to any computer removes the responsibility of a single person.

6. Hook into other systems

Finally, one of the biggest things you need from your inventory management software is a robust API that allows you to hook it into the other software you use. This opens up the possibilities of your interconnected workspace even more. You can pull out the information you need and pass it on to other software that your team uses internally.

This also allows you to build bespoke apps and workflows to suit the needs of your company. For example, your equipment may be held in lockers that require a passcode combination. By taking the checkout information, you can automatically send the passcode to the end-user and have your system update to reflect that the equipment has been picked up.

How Booqable can help you manage equipment internally

Booqable’s rental software can provide you with all of this functionality and more. Keep a centralized inventory of all your equipment, schedule checkouts, identify usage patterns, manage your inventory from your phone, and allow team members to take responsibility for checking out their own equipment. Saving you both money and time.

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A business owner using Booqable rental software