What is the difference between equipment and rental management software and most business software?
A. Most business software systems assume that inventory will be consumed, where equipment and rental management software “uses” assets to generate revenues by delivering them for use and then returning them. Equipment and Rental Management Software must be able to track the history of an individual asset including utilization, “total cost of operations”, “total cost of ownership”, and “return on investment” and it must be able to generate invoices to customers using a variety of calculation methods not available in most business software systems. There are literally hundreds of methods of calculating charges, below are a few common examples: • Day/Week/Month – this logic offers equipment to the user on a daily rental basis, but if the user retains the equipment for longer periods of time, the “rate” charged gradually diminishes. Extra charges may apply for overtime based on the hour meter on the equipment. • Minimum charge plus daily – this logic charges a minimum charge which includes
