If you run an equipment rental business, keeping track of quotes, contracts, and invoices can quickly become a juggling act. Between creating custom quotes for each customer request, issuing invoices for approved rentals, tracking payments, and managing late fees, there’s a lot to keep track of. Inefficient quote and invoice processes waste time, leave room for errors and create frustration for your customers and staff.
However, rental software like Booqable can streamline and automate the process of creating and managing quotes, contracts, and invoices. You can allow customers to request equipment through a self-service booking system, automatically generate documents, get approval from the customer, and accept payments. This blog post will guide you through everything you need to know to manage quotes, contracts, and invoices more effectively.
Why use dedicated rental software for documents?
While it is possible to use a patchwork of Word documents, Excel spreadsheets, and accounting software to manage quotes and invoices, dedicated rental management software can make the process infinitely smoother. Many cloud-based solutions allow you to create professional quotes and invoices with your company branding, product/service listings, taxes, and fees. The ability to convert quotes to invoices with a click can save time.
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Automating document creation with Booqable
Booqable has many tools that help you process a booking from request to payment, with automation that helps speed along the process. Whether you’re an event decor business that wants to allow customers to create a wishlist or an audiovisual business that takes requests over the phone, you can streamline your document workflow with Booqable. Let’s go through how you can save time, reduce errors, and improve customer satisfaction.
Self-service quote builder/wishlists
One of the most powerful features of Booqable is the ability to create a dedicated rental website or embed booking components into your existing website. This allows you to showcase your rental products online so customers can build a quote or wishlist themselves. Depending on your process, you have several options for how you want to display your products online. You can choose to show and hide availability, as well as show or hide your pricing.
When you receive a quote request in your dashboard, it will appear as a draft booking. You can view the requested products and quantities and make any necessary adjustments. By allowing customers to browse products online themselves, you can ensure they are informed about what you have in stock and are more invested in the process.
Building and editing quotes from the order screen
Whether you’re receiving quote requests through your website or via phone or email, the order screen is where you will manage your quotes. You can quickly add, remove, or alter product lines to meet a customer’s needs or changing circumstances. On this screen, you have access to your entire inventory with real-time availability, which will let you know if you can fulfill a request immediately. Any changes you make will automatically update the quote.
In addition to quotes, you can generate contracts and invoices from the order screen. Each is customizable and automatically updated when you make changes. By having direct access to your inventory and automatic quote regeneration, you have more control over your documents. This also reduces human error and ensures you can provide customers with an amazing booking experience.
Sending documents directly from Booqable
Once you’re ready to send a quote to a customer, you can do so directly from the order screen. You can click send email, which will bring up a dialog where you can attach your quote to an email and send it directly to your customer for approval. You can add information you like to the email, add recipients, and see a history of emails sent to this specific customer.
To save time, you can create email templates for different situations from within the settings. These will automatically populate with the customer’s information, so each email feels personal. You can repeat this process to send contracts for customers to sign, invoices, and even payment requests to customers.
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Streamline your quote management
In conclusion, managing quotes, contracts, and invoices in an equipment rental business don’t have to be a complex and time-consuming task. By leveraging Booqable’s capabilities, you can seamlessly create and manage quotes, convert them to invoices, and handle payments from one integrated platform. Self-service bookings empower your customers to build quotes independently, reducing the back-and-forth and expediting the booking process.
Furthermore, the automation features ensure that your documents are accurate, professional, and consistently branded, minimizing the risk of errors and ensuring a smooth workflow. With real-time inventory management and the ability to send documents directly from the platform, you can respond to customer requests swiftly and maintain a high level of service.
