Revolutionizing Construction Equipment Rental: A Case Study on ProsRent and ENO8
Technology Category
- Functional Applications - Inventory Management Systems
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Cement
- Construction & Infrastructure
Applicable Functions
- Product Research & Development
- Warehouse & Inventory Management
Use Cases
- Construction Management
- Inventory Management
The Customer
ProsRent
About The Customer
ProsRent is a startup that emerged as the winner of the 'Best Financial Opportunity' and 'Best Pitch' at CodeLaunch 2016. The company aimed to revolutionize the way construction professionals source and rent heavy equipment. In the construction industry, it is common for project managers and contractors to rent heavy equipment from supply companies. ProsRent identified the challenges in this process, such as the difficulty in predicting inventory, the hassle of finding the required equipment at the right time and place, and the increased costs when the preferred vendor doesn't have the required equipment. The company sought to bridge these gaps and provide a solution that would benefit both the renters and the suppliers.
The Challenge
ProsRent, a startup that won the 'Best Financial Opportunity' and 'Best Pitch' at CodeLaunch 2016, aimed to revolutionize the way construction professionals source and rent heavy equipment. In the construction industry, project managers and contractors typically rent heavy equipment from supply companies. However, predicting inventory can be challenging, and finding the required equipment at the right time and place can be a hassle. If the preferred vendor doesn't have the required equipment, it results in wasted time and money in searching for it, often leading to higher costs due to non-preferred rates and increased delivery costs if the vendor is located far from the job site. Suppliers, on the other hand, desired access to a wider base of trusted renters that they didn't have to vet themselves and wanted to offer dynamic rental pricing based on demand and availability in their market. ProsRent's challenge was to produce a minimum viable product that was fast and first to market but also strong enough to engender loyalty and repeat business from the target market.
The Solution
ENO8 partnered with ProsRent to design and build an end-to-end rental platform servicing suppliers and renters alike. The platform included a supplier portal that made it easy to list, price, and track inventory available for rent. It also incorporated inventory management, roles-based permissions for different platform users, a powerful dashboard, dynamic pricing schedules that suppliers could set, modify or program to change based on market conditions, and a responsive web application. All these features were linked to the same platform architecture, enabling renters to access the fleet from anywhere and suppliers to update their inventory from anywhere. For renters, the platform revolutionized their day-to-day work experience by providing powerful searching capabilities, giving them a snapshot into the local/regional/national rental market at any given time. It allowed renters to get exactly what they needed, with search specifications like preferred drivetrain, undercarriage, operating capacity, horsepower, etc. The platform also provided complete transparency in pricing and access to a much larger fleet of machinery. It removed the need to open individualized accounts with every vendor or pay upfront by standardizing the interaction relationship.
Operational Impact
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