Management Controls Blog

Management Controls Launches Rental Equipment Module

Written by Management Controls, Inc | Mon, 14 Jun 2021 08:00:00 Z

Management Controls, Inc. launches a new Rental Equipment Module in the latest TRACK Software Release.

Rental Equipment Module

We are excited to announce the release of our new Rental Equipment Module in the TRACK Platform this month! We understand that managing Rental Equipment can become difficult due to contractual needs, and the need to use a separate billing process. These challenges can lead to a lack of confidence in the calculation for the rate being charged and potential value leakage.

We are now able to bridge the gap with our new Rental Equipment Module in TRACK! The new module supports Rental Equipment contractual terms and conditions in an easy-to-use solution to drive cost savings by:

  • Ensuring accurate rates are applied to rental equipment based on rented time for initial or swapped equipment,
  • Identifying excessive spend on bulk items,
  • Reducing the cost of third-party mark-ups for rented equipment, and
  • Reducing master data entry time due to the purpose-built solution

This solution gives customers the ability to track any kind of equipment, and services spend, in one place allowing you to make better business decisions. 

You may be wondering, what is the difference between the Equipment Module in TRACK and the new Rental Equipment Module? The Equipment Module in TRACK is where you can track the equipment that is owned by vendors that they use for your project and charge you for that use. Rental Equipment Module is where you can track equipment from a third-party equipment supplier. Rental Equipment is typically used by both the owner company and the vendor.


Why utilize the Rental Equipment Module?

Easily Validate Rates for Rental Equipment

TRACK calculates the appropriate rate to charge based on contractual terms and conditions, including defined monthly rate cycles, for Unique ID and Bulk rentals all enabling supporting documentation to be provided by the vendor in a single source.​

 

Billing Flexibility for Rental Equipment​

TRACK enables the distribution of charges to one or many cost objects either by cost amount or the quantity providing flexibility and transparency between Owners and Rental Equipment providers.

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Rental Equipment Data Automation

MCi supports automated data transfer between the Rental Equipment provider and TRACK to make data processing more efficient.

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Swapping & Sharing of Rental Equipment

TRACK supports the swapping of rental equipment pieces without impacting the contractual rates previously reached.​

If you are interested in utilizing the Rental Equipment Module, contact your account manager to get started! 

 

What's new in TRACK U?

We have new courses in TRACK University covering the Rental Equipment Module! If you're already a TRACK University user, click here to view all of the new videos for the release.

  • 13 New Courses about the Rental Equipment Module
  • 200+ Courses dedicated to the TRACK Application
  • Track Anywhere & Insights on the roadmap

Get started with TRACK University today!
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