In this article, we share which features are all utilization-connected and powered by usage reporting.
Consistent usage reporting is a critical foundation to operating your rented fleet at an optimal level, as it drives accurate cost forecasts, utilization reporting and more.
In this article
- 1) Usage Reporting - Online
- 2) Usage Reporting - Mobile App
- 3) Assets > Utilization
- 4) Assets > Insights > Overhours Rate Multipliers
- 5) Ideal to Call Off
- 6) Weekly Insights Report
1) Usage Reporting - Online
This is where it all starts. Once per week, enter current total usage for a specific asset to update it's current total usage. This data then directly powers many other features.
2) Usage Reporting - Mobile App
Are you in the field? You may not have a laptop accessible to enter usage reports in the online IronUp platform.
We've got you covered. Using the IronUp mobile app, easily input weekly usage reporting quickly and easily.
Note - the mobile app has more limited features and cannot edit past Reporting Dates.
3) Assets > Utilization
Want to track usage/utilization over time for a specific asset? Great! After updating usage reporting for the asset, this feature tracks and visualizes usage over time.
4) Assets > Insights > Overhours Rate Multipliers
The Rate Multipliers / Overhours Forecast, available in the Assets feature, is powered directly by usage reporting. It dynamically takes total usage, subtracts it from previous reported usage, on a weekly basis, to determine the hours per week of utilization.
Usage Reporting is used to forecast expected future usage and indicate if you should expect higher base rental costs, as you've gone beyond the terms of your agreement.
5) Ideal to Call Off
Underutilized rentals with costs about to go up is the perfect formula for cost savings. At IronUp, we have a feature that automatically identifies features with:
- Below acceptable utilization levels
- Pending rate increases, e.g. daily rate to weekly rate
- Pending new 28-day invoice cycle
This Ideal to Call Off feature has been included through the platform, including:
- Assets > Dashboard
- On Asset Detail Pages
- Projects > Assets
- Weekly Insights Report
In short, usage reporting drives tremendous value throughout IronUp and helps you understand where you are wasting rental dollars, allowing for significant cost savings.
6) Weekly Insights Report
As noted above, usage reporting powers Ideal to Call Off recommendations. Since these can happen for any asset at any time, it's important to group these recommendations on a recurring basis. IronUp does that through our Weekly Insights Report.
Sent on Sunday night, it shares:
- Rental agreements ending this week
- Ideal to Call Off assets
- Low utilization assets