Container and Tank Leasing Software
Rental4000 is a lease management application for tank and container leasing companies, rail wagon lessors and other intermodal equipment leasing organisations.
It manages both the daily operations and long term business activities of intermodal equipment lessors. By automating many of the processes associated with lease management, such as automated invoice creation, depot stock control and billing, lessors can move the focus away from time-consuming administration and concentrate on maximizing profits
Benefits
- Unit procurement tracking - assigning costs to work orders.
- Fast access to the latest inventory details in one central screen - to optimize equipment usage.
- Dedicated redelivery and pick up areas can be built into contracts to assist with operational efficiency.
- Automated user-specific contracts using variable rates, periods and charges.
- An easy to use on-hire (GATE
OUT) facility - using default contract information to ensure accuracy.
- Guidance through entry of off-hire (GATE
IN) information - prompting early
return
charges if applicable.
- On-hire/off-hire document creation - print, email and fax direct from Rental4000.
- Agents/depots/customers can update orders via the Internet.
- Flexible billing options - to match company and customer requirements.
- Fully EDI compatible - for messaging and transmission of sales invoices.
- Auto-generation of sales invoices from contract terms.
- Reports recommending profit opportunities.
- Costs and charges can be monitored across a multitude of currencies.
- Automatic calculation of investor
pay-outs - creating full itemised statements.
- Fully integrates with the RAMI Repair4000 module - managing M&R and reducing downtime.
- Interface to third party software including accounting and ERP solutions.
Procurement
Rental4000 manages the complete lifecycle of intermodal equipment from procurement to disposal. A dedicated procurement facility allows users to create work orders and purchase orders for new builds or purchased equipment. To automate and speed up the process, related purchase orders for categories like construction, inspection, decals etc, can be set up against work orders. Further analysis, such as cost, reference, date ordered etc, can then be added to each purchase order. If ordered in bulk, the system will add as many units as specified and will automatically generate the unit numbers (including check digits) to match the users specification. Existing units can also be copied to save time.
Once received, new equipment can be quickly flagged and added to the fleet, ready for leasing and all costs can be exported to the accounts application, facilitating full cost control.
Contracts
Rental4000 provides a flexible method to set-up and maintain the type of contracts that conform to industry requirements. If a contract is re-negotiated or extended, a new version can be easily created from the original or standard template, eliminating the need for multiple data entry
Contract versions are linked together for full history analysis, identifying any changes to rates or terms and conditions. Units are automatically transferred from one contract version to another once the new version is applied, saving valuable administration time. Once agreed, contracts can be applied from any date during the month. The system will simply calculate an itemised line on an invoice, applicable to the relevant contract version.
Following the entry of all relevant information, contracts can be printed directly from the system as either word or PDF documents.
On Hire (GATE OUT)
Once a contract has been applied, equipment can be on-hired. Bookings are easy to generate as pre-defined customer and contract information defaults through from the contract and units are allocated quickly using Rental4000’s flexible option to on-hire/off-hire in bulk, as a single unit or by EDI. All documents relevant to a booking, such as depot notification and booking confirmation, can be created and stored within the system, using a flexible mail merge facility. The user is then able to email, fax or print the document.
Each booking affects the inventory status of equipment, reserving specific units for on-hire and forcing the required quantity to be entered so that the depot stock function can identify outstanding requirements. Bookings can also be set to expire after a number of days so no more equipment can be added. Equipment requiring testing shows due test dates in the booking screen and a warning to the user if the test is due within a defined quantity of days.
Off hire/Preclear (GATE IN)
Rental4000 has been designed to guide users through the off-hire (GATE IN) process. All off-hire charges entered in the contract will default through to off-hire entry, ensuring that the correct charges are invoiced at all times. Billing can even continue after the off hire date, if required.
Upon receipt of an off-hire notice from the lessee, Rental4000 generates a range of customisable documents including off-hire confirmation details, survey information and repair authorisations. These can be printed, emailed or faxed to alert depots of redeliveries, etc. Planned redelivery dates are reflected immediately within depot stock to identify large returns to certain areas. In addition, final redelivery dates can be confirmed from depots via EDI.
An important aspect of fleet management is the ability to control where equipment is collected and redelivered, along with the varying handling charges for each region. By checking information against the contract, Rental4000 can alert the user if a drop off location is invalid or if the minimum number days has not been reached.
Billing
Invoices are automatically generated from contract, on-hire and off-hire information. This can be at both at customer or contract level with a cut off date and time to ensure on-hire and off-hire activity is up to date.
The option to run pre-invoice billing at any time during the month, enables users to prepare and validate invoices so they can be sent out promptly at month end. Verification is also more manageable by the ability to run billing by company or lease type.
Rental4000 uses Crystal Reports™ as the output source for printing invoices. This can be exported to a number of formats including PDF™, MS Word™, MS Excel™ and email. Words displayed on the invoice can also be translated into different languages.
Billing information can be exported automatically or manually to most accounting applications, ensuring a smooth flow of data at all times.
Enquiries & Unit Management
A comprehensive inventory of all equipment within the fleet is held on the system. This includes full technical specifications, fittings, owner history, depreciation, financial contract information, investor details, mileage limits, movement history, products carried etc. Each unit is mapped to a maximum of ten major categories and each one is unlimited to ensure a comprehensive and flexible database can be built.
Rental4000 records and maps all testing history, automatically calculates test due dates and produces overdue test reports.
Inventory records can be updated at any time during the equipment’s lifetime, ensuring all modifications, changes of ownership, registration numbers, etc are logged accurately. If a unit is on-hire, a message is displayed to prevent double bookings.
Depot Stock
It is crucial for lessors to view the availability and movements of the fleet at all times, to ensure the efficient utilisation of equipment. The depot stock facility enables the user to see all outstanding on-hire (GATE OUT) requirements and a full breakdown of every unit, detailing the location, inventory status, equipment type and movements, etc.
Investor Pay-Out
A significant requirement for most lessors is the ability to manage investor pay-outs, usually a percentage of unit revenue paid either quarterly or to an alternative user-definable period. With the flexibility to set up pay out methods to suit all organisations, Rental4000 takes away the headache of managing complex calculations.
Unit Sales/Disposal
A facility to manage the disposal of units is available within Rental4000. A record for the selected unit can be created, prompting the users for a disposal date, reason, value and type, for example, total loss or sale. Information entered automatically populates financial records as well as the fleet inventory.
EDI Data Entry/Messaging
Rental4000 is fully compatible with EDI messages sent from depots for on-hire (GATE OUT) and off-hire (Gate IN) information using the standard CEDEX codes. This dramatically reduces the amount of data entry required so that operational staff can concentrate on other duties. A wide range of validations can be carried out against messages received and the EDI error reporting allows fast identification of any discrepancies.
