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 – to allow users 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 a 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 pieces of equipment to our inventory, and makes them available for dispatching (much like the Bill of Lading does), or for return to the vendor, after having those previously brought in. It also 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 stock and starts the subrental period
Subrental Ticket Out – the type that stops the subrental period and returns the equipment to the vendor.
Subrental process 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 make them available for renting out
And lastly, when the time comes to return the equipment to 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.
There is also a separate section with 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.
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