Car rental business is one of the most profitable business in Singapore. Rentals are usually opted by people who are on travel or whose vehicles have gone for repair or held back for pending insurance claims. Rental can be short term or long term. Short term is usually opted on a daily basis by travelling people and long term rentals are usually opted by corporates. The payment for these rentals is also short term and long term. Here deeply explained how car rental software used for the rental agency.
What are the challenges faced by car rental Agencies?
Car rental companies in the case of long term rentals have the issue of creating recurring invoices. If the rental period is renewed the agency can issue recurring invoices from the software for the period for which the vehicle is rented and also the software has reminders that can be set in it for payments.
Once the rental period is over the agency needs to raise invoices to the customer. These can be created from the templates in the software or the template can be customized based on the requirement of the customer.
In the case of a rental agency, the vehicles need to be properly maintained. The customer should not have any problem during the rental period. The customer should not face any problem like vehicle breakdown or downtime because of vehicle repair. So vehicles need to be properly maintained.
Fleet management is the biggest hurdle and challenge for the car rental agency. The agency needs to have a track of the vehicles that have gone on rent and the vehicles that are available for rent. This fleet is displayed on the dashboard to assist the agency to manage the fleets.
The car rental agencies have drivers to run the vehicles. The payment to the drivers is based on the number of trips that are done. The trips are managed by the agency which helps in making easy payments to the drivers.
The payments to the agency can be short term or long term. The payments can be easily recorded by the software. This gives a true financial position of the agency. The rental owner can make decisions for further investment for the business based on the financial position provided by the software.
The software has GPS tracking facility which helps the drivers to identify the location of the customers and the customers can also track the vehicle and the driver’s location.
The Mobile App feature of the software helps the rental agency to monitor the business from anywhere.
Which software is beneficial for the business?
A software that has all the features of the rental business under one solution is needed to run the activities of the rental agency. Moiboo software is a car rental software that has all the features to control the activities of the rental agency.
Features of the Moiboo software
- Recurring invoices
- Vehicle Management
- Vendor management
- Document management
- Mobile App
- Digital agreement
- Fleet management
A car rental software can make the business successful by controlling all the activities of the agency. The rental agency can automate all the activities and streamline the process.
For more details, please visit our website: Moiboo Software
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