The car rental business is seeing changes like never before. With technological integrations that impact day-to-day operations, car rental businesses are constantly on the look-out to leverage real-time information to manage vehicles and drivers more effectively. Needless to say, the car rental business has its share of challenges, and one of them is certainly the capital intensive nature of the business. For most rental companies, this means effectively managing data stored in different locations, all the while trying to prevent backlogs, reducing operational and business costs and optimizing fleet availability.
This makes managing multi-layered operations within car rentals a mammoth task with challenges at every level. The SAP Business One suite of business management solutions is a robust multilayered system that ensures smooth operations at all levels of activity within a car rental business.
This article highlights various benefits of SAP Business One for various fields of activity in the car rental business.
#1 Effective Real-time Reporting
SAP Business One uses helps manage the daily business requirements through an integrated MIS system. Not only does it manage to do this efficiently, but overall it helps businesses save anywhere between 70% – 80% in overall resource expenditure and cost. This system ensures that all reporting is collaborated to one centralised location, while simplifying the workflow processes and providing real-time access to all vital information.
#2 Fleet Management Simplified
One of the biggest challenges faced by car rental companies is the management of their fleet; this includes registration of cabs, cab allocation and cab maintenance registry. Now with SAP Business One, you can say goodbye to your fleet management headaches. The all-in-one software package provides all the administrational and financial functions for complete and effective branch management. In addition, car rental companies get a sophisticated variance management system which is defined by exception and equipped with a wide variety of trigger alerts to let fleet managers know about any variances that could occur during fleet operations.
#3 Driver Management Simplified
Another great feature of SAP Business one is management of driver data. For most car rental companies, outsourcing of driver management activities has traditionally been the obvious solution. But not anymore, SAP Business One lets you manage driver registrations, driver payments commissions and more, all under one solution.
In addition, the SAP solution helps better optimise driver utilisation. This includes time sheet management, payment costs attendance planning, profiling and driver availability and allocation. The all-in-one tools helps boost productivity thanks to better driver planning which results in the optimization of fleet and driver utilization.
#4 Financial Management
Another big feature of the SAP Business One solution that often gets overlooked is the complete financial management capabilities that it offers. Car Rental companies generally tend to purchase or have an existing accounting tool to help them manage their daily finances. The SAP Business One solution offers a comprehensive package that includes complete financial management like predefined payment terms, bulk invoicing, payment collection module, loan redressal, budgeting and reporting. This helps the company in question to maintain their finances accurately and lower customer credit balances.
Thanks to SAP Business One, car rental companies are waking up to services that are transforming the industry for the better. Now running a car rental business no longer needs to be an arduous task which takes considerable resources; with SAP Business One Addon for Car Rental it’s now easy to streamline operations and hit all-time high revenues.