Track Costs and Utilization of Subrentals
There are many companies that operate on the basis of renting out equipment that they do not own but rather rent-in from vendors. This process is commonly referred to as Subrentals and riger® supports all the Subrental operations at their full extent.
The Subrentals Module in riger® was designed with a very simple goal in mind – allow to
- rent-in pieces of equipment from different vendors,
- add those to own inventory and
- rent them out to clients.
It is a simple, yet flexible module that consists of two main documents: the Subrental Agreement and the Subrental Ticket.
The Subrental Agreement is the agreement between us, and the vendor. Much like the quote, it will contain information about the Vendor, the Equipment (names, quantities, and pricing), etc.
The Subrental Ticket on the other hand is the document that either brings the pieces of equipment in the agreement to our inventory, and make them available for dispatching (much like the Bill of Lading does), or return them to the vendor, after having those previously brought in. It is also the document that starts and ends the Subrental period.
The direction of this movement is defined by the types of the Subrental Ticket described below:
- Subrental Ticket In – the type that adds the equipment to our stocks and starts the subrental period
- Subrental Ticket Out – the type that stops the subrental period and returns the equipment to the vendor.
The process of Subrental in riger® is very simple. In a nutshell, there are 3 simple steps involved:
- First, the Subrental Agreement with the appropriate information is created
- Then the Subrental Ticket of type “In” is generated to bring the actual rented items to our inventory and be able to rent them out
- And lastly, when the time comes to return the equipment rented from the Vendor – the Subrental Ticket of type “Out” is generated from within the Subrental Ticket type “In” which was used to bring those items to our inventory.
Just 3 simple steps that cover all the actions needed for the Subrental operations.
Besides there is a separate section of reports that are dedicated to the Subrental operations, such as the Subrental Analysis, Subrental Margin, Subrental Units Deployment, etc. which will help to understand the strong and weak points of the process and act accordingly.
Features To Explore
Manage organizational structure, pay rates, sales commissions. Update your payroll system with the labor cost data.
Use reports and data analytics to empower decision making, sales, dispatching, efficiency analyses, cost optimization, etc.
Generate operational job costing reports and view job profitability dashboard, analyze your profit and other metrics.
See How With riger® You Can:
Manage Equipment Rental Operations
- Generate Oilfield Rental Invoices in 24 hours!
- Know Where your Rental Fleet and Field Team is
- Schedule Oilfield Service Instantly
- Dispatch Rental Fleet Faster
Be Always in Control
- See Full Picture and Make Data-driven Decisions
- Streamline Business Processes and Supporting Documentation
- Solve Business Challenges (Sales, Service, Revenue)
- Analyse Performance on Ongoing Basis