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Transparency and efficiency through telematics-based rental invoicing

Transparency and efficiency through telematics-based rental invoicing

February 18, 2019

Rely on the advantages of telematics-based rental invoicing.  

IoT can efficiently support usage-based rent calculation or the detection of contractually deviating usage. One example of usage-based rental invoicing is the consideration of kilometers driven for vehicles. An example of non-contractual use is to be cited from the area of work platforms and forklifts: Deliveries before the agreed start of the rental period (e.g. delivery on Friday, rental from Monday) and delayed collections after the agreed end of the rental period are everyday occurrences in the rental business, e.g. for work platforms or forklifts. The use of the equipment by the customer while it is there, on the other hand, is as well. This also applies to coordinated days with rental suspensions or on weekends and public holidays. If the customer does not inform the lessor about the non-contractual use on a day, the lessor does not receive any compensation for the additional use and wear of the equipment. The rental company then only has the option of tracking the usage times of the rental equipment via telematics systems. This often entails tedious, time-consuming and error-prone manual work to account for these non-contractual usage times. With Sycor.Rental and the use of a telematics system, this problem can be solved.

Digital fleet management

Sycor.Rental has a framework with which the usage data relevant to billing for a device or vehicle can be read into the ERP system from the portal of a telematics service provider or directly via the Internet, assigned to a rental deployment, checked by an employee before billing, and then billed automatically. The interface to the portal of the provider Trackunit GmbH is preconfigured at Sycor.Rental and works out-of-the-box. Non-contractual usage times are thus detected, the billing rate is increased and the effort for communication and error-prone manual data entry is reduced.

In addition to identifying non-contractual usage times, Sycor.Rental's telematics-based rental billing also allows billing models to be mapped that take into account billing according to usage by the renter. If a device or vehicle remains unused for a whole day, the customer does not pay, or only pays the otherwise agreed rent. Many rental companies already have telematics systems in use, are expanding the equipment of their fleet or are thinking about introducing them. The combined use of Sycor.Rental and a telematics system is a concrete example of the opportunities digitalization offers for lean processes and increased sales.

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Jörg Lüthge

Business Development 
Rental & More – Sales
+49 551 490 2235

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