Excel for rental: An unsuitable tool?
Beware of preconceived ideas
From the era when everything was done by hand, through blackboards, then whiteboards, and finally Excel, rental management has evolved... but not always in the right direction.
Who would have thought we would get to this point?
Excel has become the tool of choice for many companies and rental businesses... š„¶
But is it really the best option in 2024? Spoiler: no.
Excel, we all love it... until it comes to managing rentals.
If you've ever tried the experience, you know what I'm talking about.
The complexity of modifying a quote with Excel
Imagine the situation: a client, charmed by your offer, contacts you.
You, always ready to respond, create a detailed quote on Excel and send it in the blink of an eye (more than a blink actually, despite your speed).
But, as always, the client wants to make a small modification.
Nothing too serious, you think.
And yet... Behind each Excel formula can hide a new problem.
You may have spent hours setting them up, testing them, adjusting them.
But as soon as a modification rears its head, these formulas can rebel, causing unexpected errors.
Error #REF! detected
You move a cell, thinking it will have no consequence. But there you go, three other cells depended on it. Result? "#REF!". Excel was not designed for rental management.
It therefore lacks essential features, such as:
- Electronic signature
- Automated stock management
- Dynamic quote creation
- Secure deposit management
Validating a contract: A challenge with Excel
With Excel, validating a contract is an adventure in itself.
Each step requires manual intervention:
- Data entry
- Verification of terms
- Sending to client
- Tracking modifications
And if an error slips in along the way? You have to start all over again. š¤¬
Not to mention that each modification requires new validation, making the process long and tedious.
ZIQY Solution: Automated validation
With ZIQY, contract validation is simplified. š
The platform offers automated tools that allow contract management in a fluid manner. No more need to manually check every detail: ZIQY takes care of it for you.
Moreover, modifications are facilitated, allowing quick and efficient contract updates.
Electronic signature: A glaring lack in Excel for rental
Managing paper contracts is a real headache.
Not only does this require printing, sending, manual signing, then returning by mail, but it also exposes companies to risks of document loss or alteration.
Not to mention waiting times, which can considerably delay transactions.
ZIQY Solution: Integrated electronic signature
ZIQY integrates an electronic signature function allowing companies and clients to sign contracts securely, wherever they are.
No more waiting times and risks associated with paper contracts. With ZIQY, everything is digitized, secure and instantaneous.
Managing inventory: Can Excel keep up?
When it comes to managing inventory with Excel, things can quickly become chaotic.
Between equipment entries and exits, client returns and renewals, tracking inventory becomes a challenge.
A simple data entry error, a misconfigured formula or a forgotten update, and your entire tracking is compromised.
Risks of manual management
These errors can lead to:
- Financial losses
- Unexpected stock shortages
- Unhappy customers š±
ZIQY Solution: Optimized inventory management
ZIQY transforms inventory management into a fluid and hassle-free experience.
Thanks to management by SKU and serial number, each item is tracked individually, ensuring optimal precision. Updates are automatic, thus reducing the risk of errors.
With ZIQY, you have a clear view of your inventory at all times, allowing you to make informed decisions.
Creating a rental website with Excel: Mission impossible?
With Excel, putting your rental offers online can prove to be a real obstacle course.
How to present your products? How to manage bookings? How to ensure payment tracking?
So many questions without clear answers.
ZIQY Solution: Turnkey rental website
ZIQY makes creating a rental website child's play.
In just a few clicks, you can set up a professional website, integrating a secure payment system. Clients can easily browse your offers, book the equipment of their choice and make a payment securely.
Billing with Excel: A laborious process
With Excel, billing is often a manual, repetitive and error-prone task.
Each invoice must be created individually, verified, then sent to the client.
And if modifications are necessary? Everything must be redone.
ZIQY Solution: Automated billing
ZIQY facilitates billing through its automated system. Invoices are generated instantly, according to the parameters you have defined.
Errors are reduced to a minimum, and modifications are simple to make. Moreover, invoices can be automatically sent to clients, saving you precious time.
Taking deposits: A headache with Excel
Deposit management can be a real headache.
Between collection, tracking and restitution, the process can quickly become complex and error-prone.
With traditional tools like Excel, taking deposits often requires several manual steps, which can lead to oversights or errors.
ZIQY Solution: Automated deposits
ZIQY changes the game with complete automation of deposit taking.
As soon as a client wants to rent equipment, the deposit is automatically managed, whether remotely or at point of sale. This not only ensures better traceability, but also offers a smooth and seamless customer experience.
Online quotes: Is Excel up to the task?
Today, clients expect fast and efficient solutions.
With traditional tools, quote creation can be long and laborious, requiring many manual steps.
ZIQY Solution: Instant quotes
Thanks to ZIQY, clients can generate online quotes in just a few clicks.
No more waiting hours or days to get a proposal: everything is instantaneous. And the best part? These quotes can be transformed into rentals with a single click, thus simplifying the entire process for companies and their clients.
Managing deposits with Excel: A major challenge
Deposit management is a crucial step in the rental process, but it can also be a source of complications.
With traditional tools, defining deposit rules, issuing invoices and ensuring their tracking can prove laborious and error-prone.
ZIQY Solution: Automated deposits
ZIQY greatly simplifies deposit management.
The platform allows you to define clear rules, whether in terms of deadlines, amounts or conditions. Once these rules are in place, billing is automated.
Deposit invoices are automatically generated and sent to clients, thus ensuring smooth and flawless management.
So, Excel or ZIQY for rental management?
| Criteria | Excel | ZIQY |
|---|---|---|
| Quote modification | Fragile formulas, #REF! errors | Intuitive interface, secure modifications |
| Contract validation | Manual process, frequent restarts | Automated validation, fluid workflow |
| Electronic signature | ā Not available | ā Integrated and secure |
| Inventory management | Frequent data entry errors | SKU/serial number tracking |
| Rental website | ā Impossible | ā Creation in a few clicks |
| Billing | Manual and repetitive | Automated and customizable |
| Deposit taking | Complex process | Automatic management |
| Online quotes | ā Not available | ā Instant generation |
| Deposit management | Laborious manual tracking | Automated rules |
It's choosing between an old pair of holey socks and a pair of brand new sports shoes for a marathon.
One will give you blisters and regrets, the other will carry you to the finish line with style and efficiency.
If you want to run the equipment rental marathon without stumbling, you know what you have to do.
We should discuss this, yes ā
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