Equipment rental businesses are fundamentally about return on capital - maximizing the rate of return on investment in your assets and inventory.
The trick is knowing how to actively optimise equipment and supporting inventory: sell equipment that is not generating enough revenue, buy more of the equipment that is, or move equipment to where it's likely to perform better.
To do this, management teams need to routinely analyse TRENDS in equipment utilisation by location, product line, revenue, value, costs, etc. Trending on several dimensions allows managers to see the difference between a blip and a pattern.
Our product, TRACS, provides this kind of business intelligence. It’s an operational system that users across the business (sales, operations, maintenance, warehousing, and logistics) use to do their daily jobs. This ensures trend analysis is based on reliable and accurate data. A truly operational system - not just record keeping.
TRACS can be integrated with any ERP or finance system giving uncompromised operations support combined with financial rigour. It currently manages hundreds of millions of dollars of rental equipment in over 25 countries on 6 continents.
"TRACS has been a key part of our success, helping us make informed choices on equipment procurement, rental, sales, and strategic placement. The product is continually enhanced in response to the evolving needs of our business and integrated with our ERP system with operational control. Their responsive and knowledgeable support team has always been there to assist when needed, ensuring minimal disruption to operations."
Tahseen Anwar - Global Assets Manager, Parker Wellbore
“TRACS has made us more efficient. It's an essential tool for any rental business. It has simplified our operations and invoicing is easy. Whenever we've had questions or needed assistance, their support team has been exceptional. They're very responsive and always ensure we get the help we need.”
Caroline Grant - Director of Operations, Gulfstream Services International UK Ltd
“TRACS provides us with a key control element for our business, the system is invaluable to us in managing our asset location and tracking the usage and allocation to customers. The support that TRACS offer is first class and gives us absolute confidence in both the system and TRACS as a key business partner.”
Fergus Muat – Financial Controller, Paradigm Drilling Services Ltd
To find out more, or arrange a demo, please email email@example.com.
If you struggle, or cannot answer any of the following crucial questions – you need TRACS!
• Where is our equipment and inventory?
• Is it fit for purpose?
• How much revenue is each piece of kit generating?
• How much is it costing us?
• How are our inventory levels holding up?
• What are our utilisation levels – by region, equipment type etc.
Using TRACS you’ll be able to answer these, and many other, fundamental questions in real time, helping you:
• Maximise Productivity
• Accelerate Quote to Cash
• Reduce Risk
• Streamline Ops. and Finance Reporting
• Maximise Revenues
• Minimise Costs
Can I manage my rental equipment and inventory with finance software?
Rental businesses never comfortably fit into generic finance packages. Attempting to manage your core business in finance or Enterprise Resource Planning (ERP) software like Sage, SAP, Oracle, Microsoft Dynamics, leads to:
• Expensive customisations
• Non-existent/poor rental invoicing
• Increased finance software licence costs
• Compromised ops processes
• Poor/limited cataloguing
• Being held to ransom to ERP updates
Finance and Operations are both complex business areas to manage, with very different needs. TRACS will meet all your Operations Director’s needs, and at the same time integrate with your finance system, delivering accurate auditable data to meet your Finance Director’s needs.
Can I manage my rentals business with spreadsheets?
Spreadsheets are useful for start-ups with a few employees and simple processes. But attempting to grow a successful business on spreadsheets beyond these early days WILL result in:
• Entering the gates of “Excel Hell”
• Juggling multiple spreadsheets for regional variations
• Stressing over global visibility and control
• Falling foul of errors and bugs in hidden formula and links
• Increasing risk of ill-informed and wrong decisions
And how do you cope when the Excel guru who built your spreadsheets leaves? Don’t risk your business playing a dangerous game of “Spreadsheet Jenga”.
As a dedicated rentals and inventory management system, TRACS fully underpins your business processes, for multiple users, at multiple locations with multiple group companies - in real time.
To find out more, or arrange a demo, please email firstname.lastname@example.org.
Parker Drilling - Vice President Global Compliance & Internal Audit
The International rentals division of Parker Drilling (Parker) has been a TRACS customer for over a decade. Parker utilizes TRACS in many of its locations to manage its international rental asset fleet, including related consumables inventories.
Parker employee, Philip Schlom, said, “Our international rental tools business unit has expanded its use of TRACS as the system has increased its portfolio of service offerings. TRACS allows our operational teams to monitor the precise location of our tools and their operational status (e.g. rented, restoration, standby), including maintaining historical views during the life cycle of these assets. TRACS improves visibility of our equipment across our business, creating efficiencies with sub-rentals for equipment and accelerating the search for the right equipment.
TRACS also underpins processes and procedures supporting our internal controls. The system provides a level of auditable history for the lifecycle of each of our tools from initial vendor enquiry, through ordering and receipt of equipment. This ensures full traceability which is critically important. TRACS can be integrated with Enterprise Resource Planning systems and the software has assisted us in effectively managing our global assets.
With its easy-to-use functionality, context-sensitive online help, and TRACS SMART Catalogue feature, TRACS is an enabling and empowering technology which can be quite useful to an organization that is looking to develop strong internal controls and standardize processes."
Pioneer Engineering - Operations Supervisor
“We are very grateful for the TRACS system which was recently put in place. TRACS has been useful in several ways, allowing us to streamline many of our procedures such as storing information in electronic records that may be searched and organized in numerous ways, allowing the user to see patterns of the operation that describe the procedural workflow of transaction, providing information of repaired and manufactured tools for delivery and invoicing, and merging records to allow us to extract information needed for a report. The TRACS system has also managed to save us hours of company time through its ability to instantly retrieve a record, which would usually take several minutes manually digging through a paper-based filing system.”
Paradigm Drilling Services - QHSE Manager
"Excellent software that allows full visibility of all rental / manufacturing related processes and an excellent solution to prevent bottlenecking of all related products and capabilities. I highly recommend TRACS."
ITS - Regional Asset & Inventory Planner
"Having used TRACS over the last 5+ years, I feel it is an excellent tool for the Rental Assets business."
ITS - Drilling Equipment Coordinator
"TRACS is an excellent tools tracking program."
"We set up TRACS when I was at Web Rigging. It's an excellent product for companies with valuable, mobile equipment that needs careful maintenance and a clear process around conformance. It took a while for the penny to drop for me, but the really clever bit is the Smart Catalog. You have to think very carefully at the beginning about the nature of your equipment and how it fits together, TRACS then creates a very structured taxonomy which is the root of the power you get from the solution."
Sales & Ops Manager Middle East
"TRACS is a great software solution for managing oilfield equipment. As well as sales and rentals, it’s also really good at handling manufacturing, inspection and repairs. In particular, the TRACS Price Calculator allowed us to tightly control costs, making us really competitive, whilst at the same time maintaining healthy margins. All-in-all, a great product."
Sales & Ops Coordinator
"Having used TRACS and various other programmes over my career, I would always rate TRACS very highly. It is user friendly and does everything that is required. The TRACS support team are also very friendly and willing to help with any issues that may arise. They are always keen to discuss any improvements that users feel may be beneficial and if they are suitable, they then go on to develop the programme to include these changes. Overall I believe that this is a market leading program in its field."
Who We Are
Our team consists of highly experienced professionals with specialist knowledge in the complexities of rental equipment, inventory management and finance requirements.
The technical and customer support services we provide complement our solid track record of developing and delivering easy to use software tools. Software that offers a step change in the quality and management of your organisation's processes and data.
TRACS is part of The Root-5 Group;
ISO9001 Quality Management and ISO14001 Environmental Management certified organisation whose work is focused on quality systems, driven by innovation and a commitment to best practice.