Fueled by digital technologies, the sharing economy has established a new business model that goes far beyond sharing consumer goods and private services. The ownership of goods is also increasingly put to the test in terms of costs and benefits.
Just as Software as a Service is now widespread in the software industry as an alternative to purchasing software licenses, the Product as a Service model is also gaining in importance in the capital goods industry. Meanwhile, rising interest rates are putting such a strain on investment budgets that machine and equipment manufacturers are increasingly turning to their own creative rental solutions or rental parks, and even winning new customer segments in the process. Those who venture into the rental and leasing business should ideally rely on the support of digital technologies. After all, customers expect at least the same service that, for example, car rental companies offer.
In other words, even in the decision-making stage, customers want a relevant website with convenient search functions, as well as availability and rental price calculations. Not only for standard products, of course, but also for individually configurable devices and machines.
What seems to work during the initial test period (e.g. a few Excel spreadsheets) soon causes many a company to stumble. The more rentals, the less overview can be maintained over the essential areas of the rental business.
Which machine is currently leased to whom and for how long may still be one of the simpler questions.
However, as soon as you add more rental stations, gain more customers, or offer usage-based billing, it quickly becomes challenging in combination with equipment lifecycles and warranty management.
This includes planning, scheduling, customer service and support, as well as financial processing and, if necessary, appropriate personnel management.
In order to establish a professional business model in equipment rental, all processes from the online store to possible rental stations and corporate processes must be integrated.
Thanks to the Annata 365 digital platform based on Microsoft Dynamics 365, this is precisely what can be achieved within a short period of time.
At first glance, the classic sale of machines, equipment, or plants always seems to be the more profitable route for manufacturers. However, the growth in rental parks and equipment rental companies shows that renting can certainly be a profitable line of business. Those who organize the Product as a Service business model with efficient, highly automated processes and use digital technologies are laying an essential foundation for a successful business model.
Digital device management provides a 360° view of each individual rental object throughout the entire product lifecycle.
Digital service platforms support a wide range of service management tasks, from unplanned emergencies to regular maintenance and warranty processing.
Digital lease management connects online platforms with internal order processing and streamlines administrative handling with efficient, highly automated processes.
Digital portals relieve the burden on commercial rental fleets when working with manufacturers through efficient, transparent processes.
Apps & workflows ensure the smooth running of the rental process, including servicing and any subsequent billing with the renters.
With our permanent team of experts in the field of leasing, we have successfully mastered a wide variety of projects at a wide variety of customer companies over many years. In addition, we have numerous best practices at our disposal, which you can use to achieve initial success within a short period of time.
With the industry solution from the Icelandic software manufacturer Annata, based on Microsoft Dynamics 365, we have a perfect digital foundation for your rental models.
Whether rental park or additional business: we maintain an overview of all processes in the company at all times and can also provide you with competent advice in related disciplines.
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