The world today is moving at a tremendously fast pace, and to keep up with the changes, all shared mobility and vehicle hire companies must have online car rental software. To stand out from others in the market, you should be equipped with the latest technology. Getting online car rental software, along with comprehensive car rental fleet management solutions, would not only provide your clients with a better booking system, but it would also make your processes more efficient.
This blog will take you through the top features of new-age vehicle rental software and the reasons why it’s about time that you start considering it.
Want to know what these features are? Check out this quick summary video:
Features of Car Rental Software
Here are the top 8 features that would make you consider online software for fleet management solutions systems.
1. Digital Booking Management
A seamless booking process is the cornerstone of customer satisfaction in the car hire industry. Studies show that 88% of customers prefer making reservations online, with real-time updates and instant confirmations enhancing user experience significantly. Car rental software can make it easy for car hire clients to make their bookings, as there would be real-time updates on the availability of fleets, secure payment options, and automated email notifications. Car hire software providers can offer white-label booking portal websites and mobile apps that integrate seamlessly within websites and can be customised by the rental company. This means the user can easily book their vehicles, make reservations, or get instant confirmation of their car hire (or van hire) booking.
2. Operations Management System
Efficient operations management is crucial for a successful vehicle leasing business. According to research, businesses using automated operations management systems report a 20% increase in productivity and a 15% reduction in operational costs. This feature includes managing aspects like the availability of fleets, rental agreements, maintenance schedules and employee duties.
3. Automated Fleet Management (Fleet Onboarding and Fleet Scheduling)
Automated fleet management is a game-changer for vehicle hire businesses. With automated scheduling, companies can increase vehicle utilisation by up to 30% . This feature simplifies the process of onboarding new fleets and scheduling them for booking based on their availability. Businesses no longer have to do all the bookings and scheduling processes manually. This feature will optimise their vehicle utilisation and increase their revenue.
4. Customer Management (Automated Driver and Vehicle Licence Check & Biometric Verification)
Enhancing security and customer management through automation can significantly reduce fraud. A study by Experian found that automated verification processes reduce identity fraud by 50%. The software is also integrated with Automated Driver and Vehicle Licence Check services, which makes client verification easy with driving licenses. The biometric verification adds an extra layer of security against identity theft and fraud. The element also offers Customer Relations Management features that help track the preferences of clients and meet their individual needs.
5. Vehicle Revenue Management System (Billing & Invoicing, Dynamic Pricing)
Car rental companies no longer have to worry about manually handling billing, invoicing and pricing processes. With vehicle rental software, the algorithms can adjust the rental prices based on surges, demands and availability. The software can facilitate digital payments through integration with Stripe, offering preferred rates for customers. Additionally, it can streamline billing and invoicing processes, including integration with SAGE accounting software for seamless financial management. The platform would also include dynamic pricing and yield management capabilities, allowing car hire businesses to adjust rental rates based on demand, seasonality, and other factors. This maximises revenue potential while remaining competitive in the market.
6. Advanced Reporting & In-Depth Insights
Data-driven decisions are essential for business growth. As per the report by Forbes, companies using advanced reporting tools see a 10-15% increase in efficiency and a 5-10% increase in profits. A cloud-based vehicle rental management software would also provide businesses with advanced reporting and data on car rental performance and customer patterns. This can help understand the key metrics like revenue, utilisation rates, customer demographics, and booking trends.
7. Connected Mobility Solutions for Vehicles
Connected mobility solutions enhance operational efficiency and security. According to McKinsey, connected fleet solutions can reduce vehicle downtime by up to 30% and lower maintenance costs by 15%. This feature is important for telematics in car rental and real-time tracking of fleets to avoid any kind of mismanagement or theft. Remote vehicle immobilisation is also good for disabling vehicles remotely in case of theft or unauthorised use. With keyless entry, clients would no longer need to wait in lines for their keys and could just access their rental cars through their phones. Car leasing companies can also monitor and get updates regarding the health and maintenance of their fleets through the software.
8. White-label Customer Portals
Customisation is key to brand identity. White-label solutions can increase customer trust and satisfaction. Car rental software in the UK like Coastr offers white-label customer portals, including a website and mobile app.
Coastr's Innovative SaaS Platform
Coastr is revolutionising the way car and van rental businesses are managing rentals and fleets with their innovative SAAS ecosystem by offering them comprehensive solutions for digitisation.
Coastr software ecosystem includes all the essential features a modern online rental software must have in 2024. Vehicle hire businesses choosing Coastr’s innovative car rental management platform can expect streamlined operations with features like auto-generated digital rental agreements, service and maintenance scheduling, biometric verification and automated license checks.
Coastr also offers a reliable and scalable solution for vehicle hire businesses by providing cloud-based software that allows car rental businesses to operate their systems from anywhere, as long as they have access to the Internet. Businesses that are operating in multiple locations can leverage this feature for a more efficient system. Moreover, by choosing Coastr’s ISO27001-certified software, vehicle leasing businesses can mitigate risks associated with data breaches and demonstrate their commitment to safeguarding customer data and privacy.
Streamline Your Car Rental Business With Online Software:
Coastr's all-in-one car rental and vehicle hire system for shared mobility, vehicle hire, and fleet management is poised to revolutionise the traditional approach by digitising the entire process. With the best car rental software, car hire companies can now focus on the key metrics of their business to maximise revenue and deliver superior customer experiences in today's digital landscape.
Looking to optimise the processes in your car rental business?
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