An asset management system that turns cost into profit

November 2018

Lentune have developed a way for construction companies to profit from their assets, large and small.

Construction companies – or any business dependent on fixed assets to help run their business – often find staff becoming frustrated because a particular piece of equipment is not where it’s supposed to be. Or that it’s been lent elsewhere, and hasn’t been returned. Not only that, but the cost of assets use is often not being charged to customers correctly, and as a result a business can be undercharging for their work because the cost of that equipment is not being factored in.

Lentune has developed a smarter software solution to not only help manage assets more efficiently, but to give you the opportunity to increase your profit by charging for the equipment.

We’ve called this solution Rental. It’s a software application that allows you to rent out your equipment to internal projects or external customers at billable rates you set. It means you’re not having to let your assets go out for free. Your equipment yard becomes a profit centre instead of a costly overhead.

While there are other asset management systems available on the market, Rental is unique in that it gives everyone in your business live visibility of the assets you have available. This means they can book their own equipment when they need it. The crunch however, comes at the end of the month when Rental automatically generates all your invoices for you. Effectively invoicing yourself for the assets you ‘hired’ that month, that you can now charge to your customers.  

What this ultimately means is that you’ll no longer be undercharging for jobs. Previously, if everyone involved in a project assumed that the equipment came at no cost, the use of it wouldn’t be factored into the job costing. If there’s now a fully transparent charge involved, that cost will get incorporated into the job and will be rightly be charged back to the customer.

Rental streamlines the processes involved in managing an equipment yard. It allows you to see where equipment is, who has it, and for how long. Your staff can log in and check availability and make their own bookings. And if something is late being returned, it’s easy to see who’s got it and when they should have returned it.  So you get to enjoy:

  • Pricing flexibility – create your own pricing structure
  • Centralised documentation – keep all necessary documents online
  • Smart itemisation – manage the yard the way that works for your business
  • Controlled access – over who makes bookings and what they’re used for.

Rental is fully integrated with all other Lentune modules. We will also supply extensive early support and training to help make your business smarter.

 

We’re in tune with the fact that deciding to bring on a system like Rental takes some thinking about. It’s a different way of doing business. There are steps to work through. If you’ve got questions or you’d just like a chat to help you get your head around it, get in touch to start a discussion. We’re can help you understand the concept and what it would do for your business.