When contractors use high-tech methods for equipment management, suppliers such as rental companies also benefit.
Technology has improved virtually every aspect of our lives, including business. Computers, robotics, data security and myriad other high-tech methodologies have increased the efficiency, accuracy and productivity of almost any industry you can think of.
The construction sector, however, has not embraced the advent of technology quite as readily as others. If construction were a student, it would be the kid that slipped through the cracks. Or, to put it in terms of an educational program instituted by former president George W. Bush, construction could be viewed as the exception to “No Child Left Behind.”
However, that trend has been reversing in recent years. Take robotics, for example. Using robotics has allowed many construction companies to produce better quality work; solve the issue of skilled-labor shortages; and make the industry safer by taking the more dangerous and laborious tasks out of the hands of workers. Ultimately, robotic solutions have helped improve the quality, safety, and productivity of the construction industry.
And it’s not just robotics. Egnyte, a leading Cloud Content Collaboration Software company, featured a blog in which they identified the top 10 Construction and Engineering Technology Trends to Watch in 2021. It’s an eclectic array of methodologies: cloud computing, AI, digital data, and systems integration are just a few of the advanced methodologies that are gaining traction in the construction field.
Unfortunately, the construction industry still finds itself in the Middle Ages when it comes to equipment management, both rented and owned. For too long, commercial contractors and construction companies have managed their rented and owned equipment using old-school methods, including spreadsheets and the even more medieval whiteboard.
Inefficiency is often the result. Machinery is lost. Time is wasted tracking it down. Data entry is time-consuming. Duplicate rentals are a common occurrence. Overdue rentals rack up overdue fees. And if someone accidentally erases a whiteboard, forget it. Ultimately, it isn’t just time being wasted ““ it’s money. Lots of it.
What’s more, although the process of renting equipment from rental suppliers has actually become easier, managing all those rentals has become more complex, especially when the equipment comes from multiple suppliers.