Owning and managing a fleet takes time and resources: companies need to mantain and replace equipment, deal with suppliers and ensure that certifications are up to date
Other than the financial beneftis for companies of outsourcing their equipment needs to rental companies, there are tremendous operational benefits as well.
Numerous activities are required in running an equipment fleet - maintenance, repair, transportation, procurement, certifications, employing operators and more. Many companies are now turning to equipment rental companies to take over many of these day-to-day functions by outsourcing their entire equipment fleet. Others are using rental suppliers to provide these services for specific equipment types, such as power, aerial platforms or site accomodation.
A rental company leaves its customers free to focus on their core business
For example in the case of equipment maintenance a company needs to run professional workshops with parts inventories and consumables. It needs to allocate professional and financial resources for these activities - resources that could be employed more profitably elsewhere in the business. Rental companies carry out preventive maintenance of equipment and ensure their customers have only to worry about focusing on their work.
In the case of equipment failure in the field, the equipment is either repaired on-site by the rental company or replaced by another piece of equipment to minimize downtime.
PEACE OF MINDSimilarly, there are legal and ethical responsibilities in owning equipment. These range from ensuring that machines are properly insured to making sure that periodic tests and certifications are carried out and are up to date. These fleet management tasks require experienced, well-trained staff, as well as management time. Delegating these functions to a rental company ensures that companies meet their regulatory obligations and have peace of mind. The end result, again, is more time to focus on their core business. Rental companies give operational flexibility as well, with the option to rent equipment over the short, medium or long-term.
There are further operational benefits. Many companies are diversifying their activities, finding themselves working in new industries or locations that may require different types and sizes of machines. Using the resources of rental companies allows contractors to diversify without necessarily having to invest in new equipment. Rental companies are ncreasingly able to offer rental agreements that cover a wide geographical area, whether regionally, nationally, or even internationally.
A WIDE PRODUCT RANGE
International agreements are now common in a certain specialist rental sectors such as power or temporary accomodation. In addition to the cost benefits, these agreements offer enormous logistical benefits, with rental companies able to provide equipment fleets and repair back-up close to all work sites. The savings in transport of equipment alone can be significant. Many rental companies also offer services to track the location of the equipment that is being rented as well as providing operational and cost data. Put simply, renting allows a contractor to concentrate on its core business without the costly and time-consuming responsibility of managing an equipment fleet.