Anyone that’s in the business of renting and leasing tangible assets like cars, trucks and construction equipment knows there will always be one constant in their business: dealing with damage disputes. Taking these items out on the road or in the field naturally makes them susceptible to dings and dents. And, it means somewhere down the line you’ll likely be working with a customer to determine where that damage happened and who is at fault.
Why Damage Disputes Happen In the First Place
Even if you want to minimize dealing with damage disputes, there are some common parts of day-to-day business that make them likely to pop up.
- Ineffective recording tools: Many people are still using paper forms to mark down an asset’s condition. But, these forms make it difficult to record the extent of any existing damage. And, it’s difficult to discern if notations on the form refer to existing damage, or new damage that may have occurred.
- A team not fully onboard with condition reviews: You may require your team to do walk arounds of your vehicles or equipment. But that doesn’t mean they’re committed to doing a thorough review each and every time an asset moves off your lot.
- Mistakes happen: Even with a diligent team committed to doing thorough reviews, mistakes do happen and it’s easy to miss existing damage.
How OCT Equipment Drove Down Damage Disputes
As an established equipment rental company with three rental locations, OCT Equipment had a well-oiled rental and rent-to-buy business. In fact, because of these two business components, it was paramount to keep equipment in great shape to ensure that customers had a solid rental experience that led them to buy the equipment down the line.
Yet, this was all easier said than done. The team tried several different tactics to track their equipment’s condition—from paper forms to videotaping the process—yet they were still left figuring out where damage originated. They didn’t have time to develop a systemic process, and certainly didn’t have the digital storage capabilities to keep all the video they were recording.
However, all it took was getting Record360 up and running to result in zero damage disputes. Their team uses the tool to quickly walk around each piece of equipment and take pictures and jot down notes about it’s condition. According to Kurt Harris, the Vice President of IT & Rentals, “Thanks to Record360’s geo–stamping and time–stamping, it’s easy to show a customer the equipment’s condition when they received it. The pictures we take and the emails our customers receive make it 100% clear that the equipment was dropped off in great condition.”
Before Record360, OCT Equipment faced one damage dispute every one-to-two months that could easily cost $3,000 to repair. Since using Record360, they haven’t had a single dispute. Additionally, thanks to detailed photo and video records, the team is able to recoup money from damage claims sooner, meaning equipment can be repaired and be made ready for rental faster than ever before.
READY TO DRIVE DOWN DAMAGE DISPUTES DOWN? Contact us today for a free trial of Record360 at http://www.record360.com.