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Construction Equipment Rental: The rise of Multi-Channel Selling

Multi-Channel Selling

 

Companies around the world are waking up to new market demands for increased business speed and increased simplicity in the use of online services. Ignoring the digital practice is the same as losing, there is an underlying message to the market, but those companies that do not take this modern call seriously risk getting off the train. Changes in digital technology are extremely rapid. The benefits of digital transformation include new ways to communicate with customers, improved efficiency, increased transparency, revenue growth & cost savings along with increased opportunities to use information and data.

 

As more investments are put into sustainable and renewable energy, the construction equipment renting industry is also adapting and finding new ways to provide the utmost amount of flexibility. According to recent research, the global construction equipment rental market size was accounted at US$ 91.34 billion in 2019 and expected to reach over US$ 136.1 billion by 2027, expanding at a compound annual growth rate (CAGR) of around 4.78% during the period 2020 to 2027. A recent independent study conducted by – Climate Neutral Group, CE Delft, and SGS Search, shows that by sharing equipment and reusing building materials, the rental industry is contributing to avoid carbon CO2 emissions. Depending on specific user practice renting construction equipment leads to emissions reductions of at least 30% to 50% over the full lifecycle of the product.

 

When it comes to procuring construction equipment, one needs heavy down payments, which means not every construction business can opt for the purchase option. Renting construction equipment not only saves the cost of buying new equipment but also avoids extra ownership and operating costs such as licensing, tax, insurance, interest on storage cost, and loan amount among others.

 

As all business models evolve with time, either due to market changes either due to technology advancement, the construction equipment renting market is also resulting in the emergence of new exciting trends. Online presence is considered an important part of the overall strategy of equipment rental companies. Many companies are aware of this current shift to the Internet as the main medium. However, only a few companies understand how to react appropriately to this development.

 

Here are a few reasons why online marketplaces are crucial for rental companies looking to grow and take advantage of competitors in the digital area:

  • Online marketplaces are proven to be a useful addition to other sales channels. For niche shops, in particular, it’s possible to achieve greater brand awareness without investing a lot of money in marketing. Suppliers can benefit from the enormous reach that they can achieve through this distribution channel. By listing products, they can win many new customers right away, that is, without search engine optimization or advertising on Google Ads or Facebook. It is also possible to develop further potential customers on an international level, as the large marketplaces are present all around the world.

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  • Online marketplaces are designed to be easy to use. Without having much technical skill, you can list and start selling on marketplaces. They give you the possibility to set up a storefront in minutes and then enjoy the full benefits of payment processing, advertising, and even distribution and shipping channels in a fraction of the time of sourcing and registering for these tools on your own. Everything from sales to marketing and customer service is handled on the same platform through a single dashboard.
  • While physical retail stores were affected due to the pandemic, e-commerce and marketplaces were flourishing. One of their biggest advantages is the large volume of traffic and immediate access to many potential buyers. Online marketplaces enabled online providers to reach a very large target audience without having to worry about problems in shipping logistics or customer service + being available 24/7/365 increases the number of orders.
  • Marketplaces invest heavily in their infrastructure and security and are best protected against cybercrimes, hackers, and/or outrages. Retails don’t need to worry about server maintenance, updates or other technical issues as the marketplace provider is in charge of the hosting. Additionally, the overall digital experience is more advanced on a marketplace platform versus owned website. Marketplace website is faster, more optimized and the customer has more payment options to choose from. They also provide customers with a better mobile experience and/or even apps.
  • Providers can keep a track of their inventory in real-time and inform their customers/vendors about their stock availably. In a Salesforce research study, State of the Connected Customer, nearly two-thirds (65%) of business buyers say that they’d likely switch brands if a company didn’t make an effort to personalize communications with their business. Eighty percent of business buyers expect real-time communication. When you active your commerce on a marketplace you also benefit from its marketing and brand-building. Consumers tend to trust marketplaces, which automatically helps your business have a built-in established level of trust.

Whatever the future vision of a company may be, it needs to undergo a digital transformation so that the company has the opportunity to grow and be able to compete. It is also necessary for a company to have information technology that supports its goals. Xorlogics is specialized in helping companies develop digital solutions in line with their business policy and thus achieve increased results. One of their recent successful projects is Rentaga, a rental marketplace for heavy construction equipment. Not only just big rental houses but also smaller independent rental companies can register on Rentaga. Contractors have a better opportunity to find what they’re looking for and have a great online experience. Contractors/users can look at the collection of different supplier’s equipment, compare prices and features on one marketplace and rent them in one go. They also have the option to pick up from a store or get delivered to their desired address.

 

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Digital Transformation in the Construction Equipment Rental Market

Internet and digital mobility are changing our lives faster than ever before! It’s affecting a variety of industries across the world in a number of creative ways and fundamentally changing the way we do business. Additionally, 2020 taught us that there is no alternative to digitization. Even in the construction industry, which is not one of the most changeable industries, a lot has happened in the last few years. Since 2016, the construction and construction machinery industries around the world have only known one thing: GROWTH. Then came the Covid-19 crisis, along with every other business, construction sites also faced severe lockdowns and disruptions to their activity. If we look at current trends in the construction industry, it quickly becomes clear: Digitalization is advancing and offering huge opportunities and ways to improve their productivity to players in the construction industry.

 

Digitalization, in the world of construction, is affecting the following 4 main areas, logistics, procurement, production/construction, and sales/marketing. Renting and leasing of construction machinery is also on the rise. A report released by the European Rental Association (ERA) with the support of the ERA Statistics Committee, highlighted construction machinery rental market size in the EU. The equipment rental industry in the EU-15 area countries saw growth of 4.1% in 2019. In 2020, there was an estimated decrease of 10.4%. The ERA had forecasted rental growth of 4.8% this year, prior to the COVID-19 outbreak. These 15 countries account for more than 95% of the equipment rental industry in the EU, European Free Trade Association (EFTA), and the UK.

 

Renting is an inherently sustainable model. By renting construction equipment, companies and individuals not only contribute to a more sustainable world but also make economic decisions, as buying a piece of new equipment involves a high cost, maintenance, operational, and storage-related issues. Renting is becoming a viable possibility for newer businesses as well. The European equipment rental market is worth €28 billion a year and is growing year on year, according to statistics from the European Rental Association (ERA). Europe’s rental businesses are spending €5 billion a year on new fleets, providing users with the latest machines.

 

The construction machines rental industry has traditionally been characterized as medium and small-sized companies that mainly operate locally and serve regional markets. As we saw that construction sites came back to operations by end of 2020 but it was a challenge to rent construction machines like, excavators, cranes, work platforms, and similar equipment to complete their construction projects. The main reason was that this industry was working on a very old-fashioned way by calling to the rental companies and asking for availability and price quotes to rent machines but due Covid-19 most of the people were operating from home that made it very difficult for them to complete their work on time. This created the need of e-platforms that would connect construction companies and other businesses to machine rental companies as quickly as possible from anywhere anytime. Looking at digital business in machine rentals, many players came into market like BigRentz in the USA while Tracktor, Rentaga, Bullswap, SmartYard and Klarx in the Europe. However, our evaluation found Rentaga (www.rentaga.com) is the only real marketplace that offers complete end to end electronic solution with online comparison of rental offers and immediate booking of rented equipment to its customers. This is a big breakthrough towards the e-platforms and doing digital businesses in the machine rentals industry, now construction companies, maintenance companies, engineering companies can rent their machines from their work sites by visiting www.rentaga.com. They can do immediate comparison of equipment from multiple suppliers, know the specifications, check availabilities and book multiple machines in one order. This makes machine renting easy and smart.

 

This is a real step towards digital transformation in construction equipment rental market!

 

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DMS: Intelligent Workflows Integration to Streamline your Business Processes and Increase Productivity

STREAMLINING BUSINESS PROCESS THROUGH DMS

Our everyday life is shaped by digitization. Nevertheless, numerous documents go through our hands every day in the office as at many workplaces there is still more paper in circulation than necessary. Appropriate management of company documents is extremely important to an organization. It’s a process that can be easily automated but in many cases is carried out manually. If, on the other hand, you are a Paper-less Office (mostly digital), you still have to manage documents and possibly scan, save and organize them beforehand.

 

However, in order to keep up with the rapid changes in the modern business world, companies nowadays have to rely on lean processes, transparency, and efficiency. A future-proof company cannot avoid digitization. Efficient management of documentation can allow employees to collaborate on tasks and save businesses significant amounts of money. A document management system (DMS) can make this process much easier for you so that you can concentrate fully on the business operations. Digital document management in connection with automated process management is one of the steps towards the digital transformation of your company. With a DMS you can automate your workflows, keep track of things and are no longer exposed to the risk of losing sight, stop shuffling paper and streamline your business processes.

 

Here below are some considerations that you should take into account when implementing a DMS.

 

Plan the DMS implementation:

Deciding to implement a DMS is one of the first great steps towards becoming a Paper-less Office. A well-thought strategy and planning is essential to ensure a successful implementation of DMS. Only when you know what you want to achieve with the DMS, you can pay attention to the corresponding functions and features. It is therefore essential that you get a clear picture of the company’s current situation, possible problems, new opportunities, goals, and future needs. All of these elements need to come together in order to find out the best DMS to satisfy your company’s needs.

 

Essential features package:

If your company is growing steadily, you should also consider future requirements when planning to embark on a DMS implementation project. Don’t just think about the present, but also keep an eye on tomorrow to achieve long-term gains. The following features are essential for a smooth working day:

  • Usability: Clear user interface and simple operation.
  • Digitization: Scan documents and save them in various formats such as PDF or Word.
  • Document input: Should allow inputting files through various sources such as scanner, Email, manual upload, mobile applications, web services, etc.
  • Versioning: Always use the latest version of a document and restore an older version in an emergency.
  • Full-text search: should be able to find documents quickly by allowing users to locate any word or phrase that appears in the document.
  • Automatic workflows: Self-definable forwarding and processing of documents.
  • Archiving: Safe storage of documents.

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Industry-leading document management system providers, always go beyond the basic features and provide to their customer’s innovative features and solutions that will improve their overall business productivity. So, all other features and functions are also welcome, but if they are associated with considerable additional costs and are not absolutely necessary for your business, then you shouldn’t choose them in your package. This saves you a lot of unnecessary costs and allows you to concentrate on the essentials.

 

On-site vs Off-site DMS:

When looking for a suitable DMS, you can opt for on-premise or off-premise depending on the amount of data your organizations handle. With an on-site DMS, then you can transfer gigabytes of data in a matter of seconds. On the other hand, if you are running a company that has a large number of users to manage and your investment in IT is not convincing, then you need to go for the cloud or off-site DMS. It’s also suitable if you have a work from home of off-premise working culture within your company.

You should also pay attention to integration options whether new DMS can be integrated into the company’s existing systems such as BPM, CRM, or ERP, so that there is no need for a major changeover.

 

Service of the provider:

There are a lot of DMS providers on the market, they differ with their individual user interfaces as well as with their range of functions. That’s the reason why, in addition to extensive and solid document management software, you should choose the provider that best fulfills your requirements and most importantly when it comes to DMS implementation.

A serious DMS provider should be able to provide a transparent presentation of the costs incurred, such as for setting up and maintaining the software, through to any other services that may arise. These include, for example, training courses such as:

 

  • Introduction to document management software
  • Correct handling and use of the DMS
  • Establishment of automatic workflows
  • Assistance in any undesirable emergency situation. A permanent contact person in such a case can be helpful to resolve any issue that occurred. A DMS usually works perfectly, but in an emergency, it can never hurt to have a good connection to the manufacturer.

 

If you have carefully studied the use of a DMS within your company and know what you want to implement with it, you can specifically pay attention to urgently needed functions. A right DMS accrues significant benefits to the organization. Hence it is imperative to choose the correct DMS to makes your day-to-day work easier.

If you are interested in a DMS, we would be happy to work with you on your company’s digitalization project and accompany you step by step with the introduction of a DMS in your company. We look forward to hearing from you and would be happy to answer any questions you may have.

 

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How Corona is driving Digital Transformation

How Corona is driving Digital Transformation

Covid-19 has turned many industries upside down. The past few months have shown how quickly change can occur when the need is great enough. The sudden global recession left businesses with a traumatic impact by disastrously troubling some industries and challenging the determination of others. In the Corona crisis, many companies are realizing that digitized processes do not only contribute to increase efficiency but is the key to survival. The speed with which companies have adapted to the pandemic measures and restrictions against the spread of coronavirus was largely impressive.

 

Even if the COVID-19 outbreak gets limited, things are unlikely to return to normal. Instead, companies are experiencing a forced acceleration in digitization. From storing documents, online-backups, workflow and document management to remote working, the possibilities are endless. The digitized work process is faster, more efficient and safer than offline options. The process of automation saves companies a lot of time and money. These changes are shaping the future of companies / industries for the long term. For instance, the increased use of teleworking and home office is the most obvious change triggered by the coronavirus outbreak and is becoming more normal today than it was a decade ago.

 

The Corona crisis showed that many companies are technologically pretty much up to the date, however it also reveals that there is still a big part of the homework to be done in terms of digitization. As hundreds of thousands of employees went through a dramatic shift from an in-office workforce to a remote workforce within a few days’ coordination processes had to be redefined and scalable application infrastructures were made available. Because while the purely technological transformation was already on the way in most companies, the forced switch to home office above all created a change in corporate culture. Without a doubt, the task of bringing existing systems up to date and integrating as many processes as possible into the digital infrastructure is a challenging responsibility.

 

Many businesses are accelerating their transition online to streamline the management and day to day running of operations. This shift is being powered not only by new technologies that allows companies of all shapes and sizes to be more strategic and efficient but also by covid19. This trend is set to continue as more businesses understand the benefits of digitalisation and preparing themselves to adapt to digital and contactless mechanisms for their business transactions. The companies which are adapting to this methodology are more likely to succeed in the new digital era of post-COVID-19.

 

The worldwide public cloud services market increased as the cloud helped companies cope with the corona challenge. Many companies were able to change their plans quickly because cloud technology enables direct communication from anywhere. Vice president at Gartner Sid Nag confirmed that the cloud responded to increased demand and catered to customers’ preference of elastic, pay-as-you-go consumption models.” The digital transformation saved jobs, slowed the spread of the virus, and allowed companies to maintain a level of normality in a chaotic pandemic situation.

 

As a conclusion we can say that in order to stay relevant, companies and industries need to know exactly where the business technology is headed and they need to be sure to stay on top of each shifting digital trend. Those who will embrace these technical advancements into their business structure will thrive, those who won’t risk being left behind the digital revolution. Executives must understand that with the right technology, culture, and expectations, home workers can be just as productive and effective.

 

 

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Is Your Digital Business 100% Secure?

Is Your Digital Business 100% Secure?

Digital transformation is creating unprecedented opportunity for organizations today. Along with its far-reaching impact and significant changes in business models, it also comes with unprecedented risk. There are companies that are completely digital. Digital technologies such as mobile, cloud and IoT make it possible to offer new conveniences to customers, operate more efficiently than ever and gain other benefits. With the changed way of working, the demands on security have also changed, as those same technologies have also open doors to a new and special type of cyber-attacks. Here below are few security guidelines that must be carefully considered in pursuing digital initiatives.

 

Cybercrime: The Importance of Prevention!
One of the best and reliable way to guard your company against cybercrime is by educating and informing your staff about cybercrime prevention. It wasn’t long ago that data theft was classified as a social phenomenon somewhere between fun and crime. But cybercrime has now developed into a growth market – in a negative sense.
In a there  2020 Cyberthreat Defense Report, CyberEdge Group found that 81% of surveyed organizations were affected by a successful cyber attack in 2019. The average downtime due to a ransomware attack was 16.2 days in Q4 of 2019 compared to 12.1 days in Q3.
As more and more data is available digitally, the total volume of criminal activity increases. Computers and smartphones are affected equally. Therefore, by teaching your employees to recognize warning signs, you could also enhance your cybercrime prevention strategy.

 

Hardware Security Is a Must!
When it comes to protecting your device, wo-factor authentication (or 2FA offer a whole new level of security for your personal or business devices. It’s a software-based system that send you a text message or email to confirm your identity. In addition to 2FA, you should also invest in a degree of physical protection for your secure hardware in order to prevent disasters. You may also get a tailor-made insurance coverage for your devices. Protecting the hardware alone is too short-sighted. Ultimately, it’s about the corporate data, some of which is stored on the device, some in the cloud somewhere on the network.

 

Secure Basic Configuration

The basic settings for  Internet-enabled devices such as smartphones and laptops include the security settings in the device. These can vary from manufacturer to manufacturer. Apps and operating system should always be kept up to date on one device. The automatic setup for installing available updates is indispensable, because many attacks come via known security holes on the devices.

 

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Protecting organization’s and customers’ personal data is vitally important to the success of any organization. Encrypting that data is one of the best practices to be on the safe side. In case of remote working, sending emails with sensitive data represents a huge risk. It could be intercepted or seen by a third party. If you encrypt the data attached to an email, it will prevent an unintended recipient from viewing the information. Also, be sure your device is set to have all stored data encrypted in the case of theft.

 

Avoid Public Hotspots!

Working on a free WiFi can be attempting for employees who pay for their own data plans. Public hotspots in a café or in the airport are often unencrypted. Employees must be aware that these networks are not secure enough to use when logging into secure systems or transmitting sensitive information (customer data, credit card numbers, etc.). They must access to companies’ data via their secure connection at home or enable their 4G for a secure connectivity when they are on travel.

 

Regularly Perform a Backup Copy

Regularly back-up important data and information. Determine which data should be backed up, how often it should be backed up and where the copy will be saved. Keep this backup in a safe place and make sure it is always disconnected from the network. Also, if you notice that you have been infected, immediately disconnect from the network.
Also, keep information on your computer that is not connected to the network or on paper, such as important e-mail addresses and phone numbers, or information about your Internet service provider.

 

Cyber Crime Insurance

Cybercrime insurance is suitable for protecting companies against the consequences of IT attacks. Either the attack is internal or external, it can lead to a complete shutdown of operations and digital business activities to a standstill, resulting in downtime costs. In these cases, cybercrime insurance steps in and pays the costs. Extendedand personalized policies also bear the expenses incurred for data recovery or legal advice. In short, crime policies cover the direct loss of your funds, whether through maleficence, employee dishonesty or social engineering. So that things don’t get out of hands, business must take basic protective measures.

#DigitalTransformation: No Future Without a Functional Website

From the butcher around the corner to the largest multinationals in the world, about every company is actively present on the internet via a website and that has become absolutely necessary. It’s just logical reasoning as the customers spend more and more time on the internet, via multiple devices, it’s normal to be online as a business.

And only being present is not enough. A site is a lot more than just a business card today. It has become a full communication channel. And consumers expect you to be as accessible via the site as via the phone. And of course, it is also a graphic and semantic reflection of your company. The kind of site you have, the pictures that are on it and the language already tells others very much about the type of business you are.

 

Customers are more and more on the internet, it’s only logical that you should be there as a business

 

 

Daily task

As an online business, you don’t want to confuse quality with quantity. Don’t spend your time on easy and low impact tasks instead of strategic one’s, especially when your website is your only sales channel. Even if you opt to work with a specialized IT company, keeping the site running is a full day job. In some cases, only the deep adaptations to the site and the performance take specialists into account. But keeping up-to-date with information, uploading photos of products, keeping track of payments, ensure that all descriptions and prices are correct and the overall look is an in-house task.

 

Basic conditions

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Handling a running website isn’t as easy as counting one-two-three. Because of the requirements of a good website, there are some basic conditions. You need to make sure that your website’s graphic don’t confuse visitor and make him leave your page. That means finding immediately what customers looking for and not losing too much time with pop-ups and such notifications. Even the language selection must be automate as much as possible based on user history. Also, a call to action (“call us” or “push here for a chat conversation”.) must be functional. All deeper content may be further in the site.

 

Classic

Just like in clothing, there are trends and modes in website design. Long scrolling home pages are the best example. Be sure that if a visitor has to scroll a lot, it must be for a good reason.

At the top of the page a functional basic menu and at the bottom of it user must get credentials or customer testimonials. Be very economical with too many colors, striking fonts or bold layouts. And there are good reasons why you do not often see that kind of thing: it draws attention to the essence, it makes reading the site just harder and it looks very unprofessional. As far as reading is concerned, too long text on a webpage are too heavy. You limit yourself to a handful of paragraphs per page. If you have to explain difficult things, for example, if you want to propose a particular policy as an insurance company, you can make a synthesis on the homepage and click your visitors to the full text. Whether you provide a separate PDF that they can download and print.

There is nothing above a classic, quiet layout. May be in 1998 you could get away with all those flashy conditions, not any more.

 

Responsive design

ResponsiveDesign

Another thing to keep in mind is that more internet surfers are not only using a PC to use your website but they use multiple devices such as tablet or phone to visit your site. Therefore, responsive design has been invented to facilitate the navigation via multiple devices formats. That is another important trend of today: sites adapt themselves to the device they are viewed on. This way you offer an optimal navigation and all information is easily readable on a large screen PC, tablets and on smartphone. Studies shows that more and more customers use a mobile device to consult company’s websites and that’s about 80%.

If you have difficulties or you need advices on technical issues, don’t hesitate to contact-us. We’ll be happy to assist you.

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