TrackAbout Rental automates and streamlines the management of rented or leased portable assets. Direct integration with TrackAbout Core Tracking or your billing system makes it easy to correctly determine rental balances and manage prices globally across all your customers. Flexible, easy-to-use tools enable precise rental calculations and efficient invoicing processes, saving time and enhancing customer service.
When combined with TrackAbout Core Tracking, automated tracking of delivery and returns greatly increases accuracy, while the Cross-Check Engine® instantly flags discrepancies so you can substantiate rental balances quickly and easily. This combination discovers previously hidden undercharges that can increase your rental revenues significantly.
Flexible Pricing Tools
The module provides built-in, ready-to-use formulas for daily, monthly, peak, free days, leases and many other calculations. You can add other specific charges such as flat fees and administrative charges and accommodates special rental or lease program requirements. Products can be bundled to create discount packages as incentives for customer usage. Customized support for price increases allows quick adjustments of complex pricing tables and structures.
Asset agreements are arrangements whereby your customer does not pay rent for certain types of assets for a defined period of time, effectively reducing the customer’s monthly rental by the quantity of assets on the asset agreement. Examples include leases, deposits, prepaid rent and customer-owned offsets. TrackAbout has the ability to create different kinds of asset agreements for different customers. Each asset agreement contains a variety of fields that can be set and configured for specific customers.
TrackAbout Rental manages rental of large machinery and other equipment. These situations are similar to renting a car on a daily, weekly or monthly basis as opposed to portable assets rented in aggregate. The system maintains the total rental accrued to date for each individual asset and provides a full history of an asset’s rental revenue.
Consumables, or hard goods, can be delivered and invoiced from the TrackAbout system. Consumable products are sold as one-time transactions and are not expected to be returned to the client after delivery. This feature allows clients to track consumable product usage, streamline billing by allowing rented and purchased goods to be invoiced together and provide a potential tool for analysis to improve purchasing and projections.
Support for Issuing Invoices
The straightforward, easy-to-read layout enables simple understanding of rental bills which reduces customer queries and builds trust. Out-of-the-box invoice templates include multiple options to meet individual customer preferences. Invoices can be sent by TrackAbout Rental through third-party billing services or directly to the customer’s accounting system for delivery. Flexible, user-friendly tools offer versatility in designing, managing and delivering customer invoices.
The system offers complete audit trails with comprehensive at-a-glance information for every change made to rental contracts. Audit trails are useful for responding properly to customer inquiries, conducting account reconciliations, recovering lost transactions and maintaining security.
Integration with Enterprise Systems
The module contains features that are far more robust than those offered by today’s business management software products. By integrating with your existing accounting system, it eliminates dependence on these costly and obsolete industry-based technologies.
Rental Revenue Check
TrackAbout Rental maintains asset balances at customer locations to ensure accurate calculation of rental and lease statements. When connected to TrackAbout Core Tracking, the module becomes a powerful tool in increasing your revenues by avoiding situations where your assets sit idle at customer sites. TrackAbout provides indisputable data to substantiate rental balances and catch previously undercharged assets.
Functions and Features
- Tiered, standard, rate brackets and customer-specific rates
- Discount packaging to bundle together particular kinds of products at special rates
- Price increase support for quick adjustments of complex pricing tables and structures
- Full audit trail of rate changes including date, name of person making the change and the old values of the rates that were changed
- Daily, weekly, monthly and peak
- Minimum billable amount
- Accommodates surcharge fees and special rental or lease program requirements
- Sales tax by category, region and exemptions
- Ability to account for customer-owned offsets
- Configurable per customer
- Microsoft® Word® templates for creating and printing agreements
- Storage of executed agreements
- Manages a variety of flat fees for each customer in addition to or in place of regular rent
- Delivery charge, hazmat fee, administration fee, flat negotiated rental rates, etc.
Customizable Rental Bills
- Understandable, easy-to-read layout
- Simple Rental Billing Period Dashboard for easy adjustment of billing details
- Templates include multiple options to meet individual customer preferences
- Ability to include marketing messages for seasonal sales or other notices
- Print and send bills in-house or through an outsourced third party
Rental Bill Hold and Release
- Hold status for customers requiring special attention
- Held bills can be reviewed and released from hold easily as part of a rental run
- Rental Method: lowest of daily, weekly, monthly
- Bills created when equipment returned or held for a month
- Ability to run on a different schedule than rental of other assets
- Rates and start/end dates can be overridden by asset
- Detailed information shown on bill for individual assets (e.g. serial number, delivery date, special instruction, etc.)
- Tracking, Deliver and Bill for one-time fee consummables (hardgood products)
Integration with Existing Systems
- Integration with several business accounting systems including TECSYS, SAP, Oracle and J.D. Edwards
- Support for several data sharing methods
- Manual user-uploading of CSV, fixed-width, tab-delimited or XML files
- Automatic pickup and processing of files transferred via SFTP/SCP, FTP over SSL, plain FTP or other means
- Exported text and XML reports made available for automated pickup
- Fully integrated Web Services based on the RESTful model
- Secure, password-protected controls support roles- or permissions-based access
- Customizable set-up for designing constraints to meet specific business needs