How ERP can fuel digital transformation in the rental industry

Digital Transformation is quite literally transforming our economic landscape. And in turn businesses are changing the way they work with ERP solutions. Social media, mobility, Big Data and the cloud. New and emerging technologies are critical. Especially to how businesses interact with customers, partners, and suppliers. Or how they produce and position their offerings. And consequently how they compete in the marketplace.

Digital Transformation is not about getting new IT solutions up and running. It is a new mindset for both established businesses and entrepreneurs that need to capture fickle hearts and minds to succeed. Therefore, we need business software that can incorporate that mindset via technology.

First, let’s define “transformation.” Business transformation is about finding and successfully pursuing a new business model. IT transformation is about making IT a strategic lever for change, while sustaining a robust infrastructure for businesses.

The Digital Transformation journey is a moving target, continuously building on innovations, discovering new ones, and making them available faster and faster. As a result, businesses need a unified, flexible platform that equips businesses to take advantage of the moving target and move forward.

Exploring Digital Transformation within equipment rental and service industries

Here’s an overview of how companies can make the right choices and find the right technologies to make them part of their system:

1. Define what digital transformation means to your business and industry
2. Determine the digital transformation process that’s most effective for your business
3. Create a culture where IT is at the central of your organization
4. Initiate first digital changes

The goal: establish data-driven business practices that can embrace learning and change, and always be ready to incorporate technology capabilities that both follow and fuel transformation. For equipment rental and services businesses, innovations like Mobility, Internet of Things (IoT) and Machine-to Machine (M2M) will take rental and services beyond efficiency into ERP Big Data. Well-defined analytics (Cortana) provide immediate and long-time insight into any and all scenarios. When you incorporate innovations like these into an ERP system with flexible setup options, you can easily identify trends (KPI’s), and create or enhance business models that fit smoothly into business operations. From pay-per use to full models for multi-channel rentals and leasing. Hence, the Digital Transformation is an opportunity.

Curious?

Curious about our expertise with equipment rental and services for your specific industry? Please do contact us below to discuss how we can help you incorporate Digital Transformation into your business.

Download the case study below to read how we helped customers such as Eazi Access digitally transform their rental business with our DynaRent solution.