Pedigree Technologies information, news, and posts about equipment and industry-specific equipment solutions.


5 Ways Telematics Benefit Equipment Rental Companies

Rental companies have a lot on their plate: meeting customer’s needs, maintaining  fleets of equipment, and making sure that the equipment performs as required are just a few of their top priorities. Staying ahead of it all has always been a challenge. That’s why the best rental companies have turned to technology to alleviate inventory issues, prevent costly equipment breakdowns, and increase profits. While their competition may have updated their customer database and billing systems, the most profitable operations are increasingly putting technology, especially telematics, to good use.

How Telematics Benefit
Equipment Rental Companies

1) Increasing Billable Hours

Many companies bill at 8 hours of run-time per day. However, customers often end up using the equipment longer. Without telematics in place, there’s no efficient way to know for sure just how long it was used.

Equipment management solutions like Oneview allow you to have complete visibility of your assets, so you can bill for the hours the equipment was actually used. If your customer does run it for longer than the allotted time, you can adjust the price of the rental accordingly. This way you can increase your bottom line and are holding customers accountable for the time it was used. Just be sure to include a statement to this effect in your rental agreement!

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equipment maintenance image

Benefits of Preventive Maintenance vs. Corrective Maintenance

If your equipment breaks down, so does your business. Every equipment manager knows that ensuring proper maintenance and preventing downtime is a top priority. But what happens when that piece of equipment is out at a job site for a month, and you have no idea how long it ran or when the last maintenance was performed?

Most of the time proper routine maintenance is overlooked, leading to setbacks caused by major mechanical failures. If your company still waits until equipment fails to repair it, then you are wasting thousands of dollars that could be easily spared by preventive maintenance (a.k.a. preventative maintenance) strategies.

What is Corrective Maintenance?

Corrective maintenance is a maintenance task performed to resolve equipment failure and restore it to operational condition. This type of maintenance is the most commonly used approach and it occurs when routine check-ups fall through the cracks, leading to major mechanical problems. Corrective maintenance could cost thousands of dollars, not to mention if you end up having to replace the equipment what that cost would be.
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