Digital Transformation Of Your Equipment Rental Operations
In contrast with the Oilfield Rental Operations, where, by default, the rental charges are counted based on daily rates, riger® also supports General Rental Operations, which can use various charging schemes for rentals which are based on different rental periods such as daily/weekly/monthly.
The logic behind the General Rentals documents workflow in riger® follows the same pattern as it does for the Oilfield operations, meaning the job starts with the RSA (Rental Service Agreements), which includes the items and services with their corresponding quantities and prices. Then tickets are used to deploy or return equipment, provide services, etc., which ultimately leads to the invoicing step. The main difference lies in the documents that General Rentals module includes in the chain as a source of information for pricing and rental periods definition.
We have already gone through a very high-level coverage of how powerful and flexible the riger® pricing mechanism is in the Pricing Module section, so here we will talk about the documents and mechanisms that apply just to the General Rentals, such as:
Price Book – In simple words, this is the to-go Price List for General Rentals operations, where daily, weekly, and monthly prices are defined. While the daily prices act as a base for calculations, the weekly and the monthly figures are equal to the multiples of the base that are defined as rental periods and used in the price matrix.
GR Price Matrix – This is a complicated setup process which is performed only by riger® support and/or administration teams. It is usually done at the implementation stage, by setting up the exact base rate multipliers for each day in your billing cycle. This allows you to help the database understand how many days of rental you want to be considered as a week, or two weeks, or a month and so on. By having this matrix populated correctly you will ensure that charges in invoices always comply with your charging scheme by 100%.
** Please note that there is also a Price Matrix document that is accessible from the General Rentals menu in riger®, which allows to select a particular Rental Unit or a group of Rental Units and set base rate multipliers for those. This document, however, does not have the flexibility and priority level of the Price Matrix mentioned above.
There is an option in riger® General Rentals Module which allows to set up Rental Periods. The setup is very straight forward and involves 2 basic steps:
Define the name of the period (weekly, Bi-Weekly, Monthly, etc.)
And define the number of calendar days that apply to each of the periods.
These values of Rental Periods in conjunction with the values inside the Price Matrix will be used while generating invoice to perform exact calculations.
Overall, the General Rentals Operations process setup in riger® is client-specific and might differ from case to case. Thus, if your company is interested in utilizing the capabilities of this module, please contact us to discuss your specific use scenarios.
Features To Explore
Create quotes and convert them into agreements, manage client interactions with Oilfield CRM.
Record and track all client requests to resolve issues fast, improve service quality, and add value.Use flexible pricing approach: discounts, daily and periodic rates, package and volume-based pricing.