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Transparency and efficiency through telematics-based rental billing

Transparency and efficiency through telematics-based rental billing 

February 18, 2019

Deliveries before the agreed rental start date (for instance delivery on Friday, rental starting on Monday) and delayed pick-up after the agreed rental end date are routine in the rental business, for example with staging and lift trucks. So is the use of equipment by the customer as long as it's there. This applies correspondingly to agreed days when the rental is suspended, but also on weekends and holidays. Unless the customer informs the rental firm about the non-contractual use on such a day, the rental firm receives no compensation for the additional use and wear and tear on the equipment. Then the rental firm's only option is to trace the usage times of the rental equipment using telematics systems. Billing for these non-contractual usage times often involves cumbersome, time-consuming, and error-prone manual work. 

Digital fleet management 

This problem can be solved with Sycor.Rental and the use of a telematics system. There is a framework for Sycor.Rental to import the billing-related usage data for equipment from the portal of a telematics service provider into the ERP system, assign them to a rental, have them reviewed by an employee prior to settlement, and then process them for automated billing. Non-contractual usage times are detected, the billing rate is increased, and the effort for communication and error-prone manual data capture is reduced.

Telematics-based rental billing

By the way, telematics-based rental billing with Sycor.Rental can do more than detect and bill for non-contractual usage times. Settlement models with billing only in case of usage on a given day can be represented as well. The customer does not pay if equipment remains unused for the entire day. Many rental firms are already using telematics systems, expanding them in their fleet, or considering their implementation. The combined use of Sycor.Rental and a telematics system is a concrete example of the opportunities offered by digitalization to streamline processes and boost sales.

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Larry Miller

Vice President
Business Development, Rental & Service Industry
+1 412 526 3330

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