The main thing about the heavy industrial equipment needed for oil and gas exploration is that it’s HEAVY - expensive to manufacture, expensive to move, expensive to maintain and work can’t get done without it. Without software, the accounting is complicated and it’s easy to miss out on revenue opportunities.
Have you experienced any of these problems?
- Can’t see which equipment and orders are still unbilled
- Equipment isn’t available to be rented because it’s being maintained or in the wrong geography
- You don’t account for when equipment was actually returned, and bill properly for usage
- Income and expenses aren’t applied to the fixed asset to get a full picture of asset value
That’s where Oil and Gas Rental Management Software is making life a whole lot easier. Instead of using scrambled spreadsheets and crumpled rental agreements, rental management software enables companies to:
- Price each rental asset – by daily, weekly or hourly rate as well as by utilization
- Measure rental use – how much time each asset has been rented, on standby or in operation
- Link rental assets to fixed assets for a full accounting picture
- Manage rental agreements
- Track rented assets by location, usage and availability
- Link to Project Accounting (optionally) so you can manage asset movement and scheduling
Adding EnergyCONNECT Rental Management Software to Dynamics 365 for Finance and Operations gives you a complete end-to-end picture of your business operations. Stop the revenue leaks. Take control of your rental equipment.
Learn More About EnergyCONNECT
Author: David Huether, VP – Engagement & Alliance Management
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