Usually we don’t think of dealerships, auto body shops, truck rental companies, or real estate management as being in the same business, let alone having the same problems. While in many cases this is true, there’s one major situation where it’s not: damage expense recovery.
What all these business have in common is that they work with tangible assets that can be easily damaged. Fixing that damage costs money, and arguing about that damage can destroy client relationships for good.
Don’t you want to decrease those damage expenses? If so, find out how Landmark Trucks uses Record360 to get their unbillable expenses down by 60%
What Can Go Wrong With Asset Condition Reviews?
Whether you’re a team of one or a team of one hundred, it’s all too common to find yourself with damage expenses you have to absorb. There are a lot of culprits, including:
- Limited condition review diligence: Your team knows they have to mark down an asset’s condition, but that doesn’t mean they’re committed to doing a thorough job.
- Ineffective recording tools: Paper forms and pictograms can only do so much to record how much damage an asset has, and the extent of that damage. In fact, our recent research found that 89% of rental customers don’t believe paper forms are entirely effective at recording damage.
- Mistakes happen: Even if you have a diligent team and a thorough process, mistakes happen and it’s easy to miss damage with one quick pass.
How Landmark Trucks Recouped Their Damage Expenses
A long-time user of paper forms, the management team at Landmark Trucks, a 3-location truck rental and leasing company in Oklahoma, knew it was time for something better.
They would regularly check for dents, damage, breakage or scuffs. However, the team would occasionally miss damage when the truck was leaving the lot. The end result was having to eat damage expenses from damage they did not create. Danny Jenkins, Landmark Trucks’ General Manager, let us know “Even though we know the customer caused the damage, we have no documentation to prove it. We needed a way to get our unbillable damage expenses down.
Armed with Record360 and its photo and video capture feature, the Landmark Trucks team was finally able to thoroughly record each truck’s condition and bill for customer-created damage. Video came especially in handy for door panel and tire damage that the team might likely have missed with a paper form. Video evidence showed the trucks’ condition before leaving the lot, and proved that the damage was not originally there.
In just two months, Landmark Trucks cut down their damage expenses by 60%. They’ve now expanded the tool across all three locations and continue using Record360 to get the most out of their assets.
READY TO GET YOUR DAMAGE EXPENSES DOWN? Contact us today for a free trial of Record360 and learn more at http://www.record360.com.