How to centralize Equipment Rental with business objects

Equipment rental and service companies deal with a complicated array of equipment and parts that you own and rent to customers. Then there’s the equipment and parts that you own for internal use, or that fall into sub-owned or sub-rented categories for rental and internal use.

The list goes on and when you “explode” it there are many processes and documentation for equipment lifecycle management, involving suppliers, customers, third party vendors, logistics, inventory, financials and related ERP processes.

Not to mention the foundation of what you do—handling scenarios that can span single tool rental to complex projects that require equipment, parts, resources, transport, multi-level SLAs and more, from across multiple locations.

DynaRent equipment rental and service, simplifies the complexity of asset management for your equipment rental company while integrating fully with  Microsoft Dynamics 365 (and AX)—how? Business objects. In a nutshell, all equipment and parts that you work with in your company are registered within DynaRent as business objects.  The diagram below offers a clear outline of how this approach gives you precise control over all equipment and processes via a centralized record or source. 

Screenshot 1: Business object explanation flow – DynaRent 

Whether you purchase an asset outright or work with any mix of third-party. Or you purchase a sub-rental agreements with suppliers, it lives in DynaRent as a business object. You can record a piece of equipment as a single object. And at the same time record all parts for the equipment as separate objects.

Once you’ve registered a business object for equipment rental and service, you establish a source record. This means for all associated operations and information updates. You can use business objects to achieve 360-degree control over lifecycle management. Thanks to automated workflows, graphical overviews, and full integration with Microsoft Dynamics.

Business objects for equipment rental

There are many levels to discuss when describing equipment and part assets as business objects. So we’d like to give you a starting-point here. It’s actually very straightforward. For example, let’s initiate a rental to customer x. The equipment you rent to them is set up as an object. Which in turn may consist of multiple parts that are already registered as objects. In addition they come from 6 different locations, purchased or rented from suppliers at different times.

DynaRent will automatically generate a rental order and all associated work/service orders for the object(s). It will also “know” when service for any and all parts for the equipment is due. So rental and work orders will reflect that real-time precision. In addition, updates to the business object record for customer x will keep the system updated for inventory, fixed asset management, etc.--and vice versa. Both for the total piece of equipment rented and all its parts, which may have had very interesting “lives” on their own. Everything comes together, always in real time. And it Always comes with a full history, no matter what aspect you’re looking at or working with.

Interested in exploring how much value a rich equipment rental and service management solution can bring to your business? Download our Rental Management fact sheet below.