In follow-up to our most recent blog post “Chasing Paper: An Obvious Sign Your Equipment Rental Company Has Outgrown Its Existing Rental Software Solution”, we bring you:
Sign Number 2: Inadequate Reporting
Perhaps the most acute sign of having outgrown your existing rental management solution is the inability or difficulty in creating reporting to analyze the business. You’re doing the very best that you can, but as the business grows, so does the demand for additional reporting. And if you are creating a new spreadsheet for each new request, you know only too well how much your system is holding you back from delivering the information that you and other stakeholders need, to more strategically address the needs of the business.
It is impossible to address poor performance of a location or product line without complete and timely information. The longer critical decisions are delayed as a result of waiting for needed information, the more profit and opportunity are lost.
Typically the investment required to update systems is more than repaid in found opportunity or the ability to quickly act to improve poor performance. Managers at every level of the business are able to respond and meet objectives when they have critical and timely information at their disposal.
You can learn more about this sign plus eight others by frequenting this blog, or by downloading our white paper ”Moving Up to Rentals for Adagio Accounting” on our website.