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How to Drive in More Profit With A Car Rental Solution

August 5, 2020

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Car rental is a booming business in the current market situation, lot of people find it cheaper and convenient to rent a car rather than invest in one. Currently, the revenue of the car rental business is about US$59,518M.

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It is estimated that this business will increase to $124.56 by 2022. If you already have a car rental business or plan to establish one, we suggest you invest in a good car rental solution that helps in cost savings and optimised fleet performance.

What is Car Rental Solution?

It is a software program that will give you a unified view of all the performance of all the cars in your fleet. This software helps you track all the cars in real-time. It allows easy check-in and check-out of the vehicle.

Read Also: Benefits Of Online Car Rental Software

The modules of the car rental software help you manage reservations, check payments, track maintenance, and manage reports. Let’s take a look at the various features of a car rental solution and how they can help you drive in more profit.

Track All the Cars in Your Fleet

The software gives you real-time updates on the location of your car. You can check if the vehicle is idling, parked, or moving. Knowing the exact location of the vehicle will make it easy for you to assign the closest free vehicle to the next customer on line.

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The real-time tracking also helps you check if the vehicle has gone out of the grid. You can set a geofence using the software. It will give you an alert when the vehicle goes out of the virtual fence. This alert will help you identify if there is any unauthorized vehicle usage. Tracking features also let you monitor rash driving and over speeding.

So, how does the tracking feature help you improve the bottom line? Real-time tracking lets you know the exact location of the vehicle. So, you can dispatch a vehicle at the fastest possible time, which reduces customer wait time and improves your revenue.

Secondly, tracking driver behaviour will help you ensure the safety of your customers. Happy and safe customers are sure to become returning customers.

Setup a Preventive Maintenance Plan

The car rental software maintains a record of the monthly, half-yearly, and yearly service and maintenance. Along with the time and type of service, the software also tracks the expenses involved in maintenance.

Read Also: 7 Advantages of Car Rental Software for Business

You can view details of expenses related to the purchase of spare parts, fines, replacement parts, and more. The maintenance module also lets you know if the vehicle is available for customer use.

By tracking the maintenance, the software ensures that the car meets all the statutory compliances. Also, the preventive maintenance program helps keep your vehicle in top condition and ready for use.

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Monitoring maintenance helps reduce vehicle downtime, so your car is on the road for the maximum time. This, in turn, translates to better profits and reduced service and repair expenses.

Have all the Data Handy

You don’t need to worry about managing all the paperwork related to organizing and planning your fleet movement. The software takes care of it for you. The calendar option gives you a clear view of the free and in-use vehicles. The tracker will also let you know approximately when you can expect the vehicles in use to become free.

All these organisational data will help you manage your fleet. You will find it easy to schedule vehicles based on availability. This feature reduces the burden on your staff allowing them to focus on ways to improve your fleet performance.

The car rental software also records the vehicle condition using a synced mobile app camera. So, at any point in time, you will have visual proof of the vehicle condition.

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The software keeps a record of the rent history. So, you will be able to find out who rented the vehicle, at what time, where the vehicle travelled and when it was returned. All this information will be useful in case there are any problems related to the vehicle or the customer who used it.

Build Customer Relationship

The most important feature of car rental software is its interactive feature. The multilanguage compatibility feature makes it very user friendly. You can also use the application to create email templates to send official mails to the drivers or the customers.

Read Also: How Hard did COVID-19 Hit the Logistics Industry?

You can also create invoices and send bills via the software. This feature makes it convenient for you to tally your expenses and payments. If you offer subscription plans for your customers, then this software can help keep track of the subscriptions. The application can be designed to send automated emails when it’s time to renew the subscription.

Conclusion

A car rental software application helps in fleet management and maintenance. The software helps track all the vehicles in real-time and effectively manages the daily operations of fleet management. Also, you can do your billing and invoice via the platform.

The software helps streamline your accounting process, track driver activity, and automate marketing campaigns. The right car rental solution can reduce manual efforts and improve your profit margin. Contact us to know more about how our car rental solution can help optimize your fleet performance and profit.