What is the Next Generation of Business Software for Hire and Rental

In answering the question, it is worth reflecting back on the History.

First Generation Hire Software and Rental Management Software

The First Generation of Rental and Hire Software really began depending on who you believe in the 1980′s. Certainly there may have been earlier versions written for mainframes, but the packaged software started with the development of the affordable desktop.  The packaged software market, first generation, emerged from the development of point solutions for specific early adopting customers.

These early versions focused on the basic process of managing bookings. Providing no more than a simple process of managing inventory, bookings and client records.  However their effectiveness in bring business value should not be under-estimated.

Second Generation Hire Software and Rental Management Software

The Second Generation of Rental and Hire Software could be argued to have emerged with the growth of Windows, inparticular Win 95. This generation of rental and hire software built upon the popularity of Windows. Utilizing the look and feel of Windows, these systems began to emerge in the mid to late 90′s.

This second generation of hire software and rental software systems expanded the affordability and popularity amongst hire and rental companies.

These second generation systems grew to expand connection to useful business devices such as Point of Sales (POS), License Scanners, Bar Code Scanners and Cash Drawers etc.  Second generation companies stress connectivity to these devices as their main selling point. Whereas as you will read Third Generation systems include such connectivity to devices as standard functionality.

However a major limitation of these older second generation systems was their reliance on interfacing to other critical business systems, in particular Accounting Packages and Customer Relationship Management Systems. Not having fully integrated Accounting and Marketing meant that hire and rental company managers were unable to truly and quickly analyse the true performance of their business.

The final death knell for the second generation hire and rental software systems was the maturity of the web.  The web has grown from a novelty in the 1990′s and a ridiculous new financial business paradigm shift in the early 2000′s (dot.com boom) to a maturing business tool as we approach the end of the decade.

The web is now the primary source of leads for the best performing rental and hire companies.(most cite the web as providing over 50% of new business leads).  In effect the web has created a second shop front, a virtual store that operates 24 by 7.    This virtual store is as much a part of a hire and rental business as is the physical store.

Furthermore the web is also a primary source of incredibly useful business tools, such as Google Maps, On-line Bank reconciliation, Colloborative Event Planning, Contractor Management, Document Storage and Access, as well as communication tools like Email etc.

The old second generation hire and rental software systems were aimed at providing a solution for the physical store .  Most such systems because of their under-pinning technical architecture and technology were in the main incapable of being stretched any further to enable the web to become an instrinsic part of a Hire and Rental business.

This led to the rise of the Third Generation Hire and Rental Systems.

Third Generation Hire Software and Rental Management Software

The third generation systems are Hire and Rental software products that instinsically include the web store and access to web business tools within the software package.  This generation of software enables hire and rental businesses to trade in a physical store and a virtual store all with in the one package.

Furthermore they enable the use of high value business efficiency tools such as Google Maps, outlook email integration to with client records and on-line collaboration etc.

Finally they are an all inclusive business software system that includes critical business functionality such as Accounting, CRM and Digital Marketing.  This inclusion ensures that hire and rental businesses can finally analyse in detail their businesses.  Such things as profitability by customer or by product, forward cashflow forecasts based on actual bookings etc in near real time.

Third Generation systems reflect the business need of hire and rental companies.  Affordable, easy to use and complete business functionality, the third generation systems are growing rapidly.  One key driver of this growth is the Global Recession, as hire and rental companies seek solutions that both contribute to sales growth whilst reducing operating costs.

Second Generation systems are still available on the market and will be for some time.  However these systems are increasingly being replaced by Third Generation systems.  As this trend continues to gain pace, many hire and rental companies on older second generation systems could be left exposed, not only to business risk but the potential for declining market share.

HireEzy is the Global Leader in the Third Generation Hire and Rental Software Market.  As one recent client who converted from a Second Generation system said

its like going from the Industrial Age to the Digital Age – it is incredible!!!!!

Want more information or an on-line demonstration, then contact us at sales@makinglifeezy.com.au

in Business, Energy, Google, Google Maps, Hire Software, Market share, Money, Point of sale, Rental Software, Small Business