How to Stop Equipment Rental Profits from Evaporating

In the early days of whisky-making, distillers were mystified that there was less whisky in a finished barrel than in a newly filled barrel. Their best explanation was that angels took a portion of the whisky for themselves as a heavenly tax – ‘the Angel’s Share’. We have witnessed a similar process in the equipment rental industry, but instead of whisky evaporating, it is rental revenue and profits.  

Equipment rental firms are missing out on maximising revenues by not implementing the latest digital operations solutions. Modern digital rental apps, such as PHALANX, capture information electronically, which means that the errors and delays that come with using paper are a thing of the past. Plant and equipment can now be turned around much faster as the restraints that come with paper are removed from your operations.  

Rental apps can also help maximise revenues while picking and returning customer orders. Items added to an order or switched when being collected can now be instantly added to the invoice. These items tend not to be accounted for or billed when a business is still running on paper, and the shortfalls were only caught at annual stock counts and routinely written off. Fuel usage and hours are accurately collected on mobile apps to generate accurate customer invoices. Damaged and missing equipment is immediately identified (with photographic evidence to back up any customer disputes). 

By using digital rental apps, Depot Managers now have tight control of their operations while also providing their team with the flexibility required to do their job accurately and efficiently.  

The angels demand their share of whisky profits, but rental companies can keep a lid on evaporating revenue by replacing paperwork with rental apps. That’s a result we can all raise a glass to. 

To find out how Spartan and PHALANX helped a large equipment rental company stop revenue from evaporating, download a free copy of our ‘The Angel’s Share’ case study below: