Build your business with Saas
How can technology help your business gain a competitive advantage? Dennis Helderman, co-founder at Rentuu, the equipment hire technology specialist, discusses the business benefits of SaaS technology…
The pressures on small to medium sized businesses, operating in a challenging and competitive marketplace, are many. Low client budgets, staffing issues and no dedicated sales or marketing support are just some of the challenges that businesses are facing.
These are some of the initial findings that have been presented in anecdotal evidence to Rentuu, as we — as a proactive business — strive to understand the real problems that equipment hire specialists face on a day-to-day basis.
Some equipment rental businesses have chosen to utilise customer relationship management (CRM) technologies, such as inventory management software — for example, Current RMS, InspHire, MCS Rental, Point of Rental and Navigator. However, other organisations are noticeably struggling to keep tabs on day-to-day operations. Particularly as small teams stretch themselves across a number of business roles and functions.
SaaS has it
It’s important for hire businesses to ensure that their portfolio is fully utilised so that orders can be fulfilled, smoothly and efficiently. And for businesses that are looking to grow, such a task can only be achieved if the right procedures and software solutions are in place.
SaaS (software as a service) platforms — stored in the cloud — are growing in popularity. Essentially, a third-party provider hosts applications and makes them available to businesses over the Internet. They remove the stress out of stocktaking, documentation management and accountancy for example, keeping track of orders and alleviating some of the stresses and strains of running a business.
Such is SaaS’ popularity with growing and ambitious organisations that Gartner predicts significant growth in this market. In fact, the research analyst says that SaaS cloud application services will reach revenues of $113.1 billion in 2021. This is because time-poor companies are realising the value of adopting SaaS technologies. They streamline operations and help a business to run like an efficient and well-oiled machine.
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In fact, SaaS software features such as dynamic pricing models, SEO optimisation, custom website templates, delivery tracking and fleet optimisation, all of which Rentuu can help you with, can make huge differences to a business.
Make a difference to the bottomline
Technology — specifically developed to aid equipment hire suppliers — generates cost savings and revenue opportunities because it enables an organisation to have a realistic view of how its team is performing.
By identifying their most profitable customers, equipment hire specialists can accelerate revenues; full revenue analysis provides a business with actionable data so that it can define strategy and areas of growth and even turn its attention to customers that will make a difference to the bottomline.
Furthermore, it is vital that companies can access information quickly and efficiently so that their ability to provide quality customer service is not impacted negatively.
And, given the unprecedented times in which we live, quality and efficiency, delivered at a reasonable price, are paramount.
Make informed decisions
Technology, such as detailed inventory management and CRM solutions, can help a business to identify trends, which enable organisations to make informed decisions, influencing strategy and insight. Plus, with such software you can set alerts, manage documentation and communicate with key team members and crew.
Again, according to our research, managing teams — with members located across the globe — is another common problem that businesses face. Therefore, using technology that is designed to meet a business’ specific needs is the way forward.
If you haven’t already invested in technology to grow your business, what are you waiting for? Book an appointment and demo with our friendly team and see how Rentuu can help you go further.
