6 Features of the Perfect Rental RFQ / RFP

6 Features of the Perfect Rental RFQ / RFP

Blog - Perfect Rental RFQ

As a contractor, equipment rental is a critical part of getting your job done. And the start to every equipment rental starts with your “request for quote”, or RFQ, to a potential rental supplier.

But all too often, an RFQ results in a rental delivery that doesn’t match expectations – the wrong asset, an incorrect quantity, the wrong delivery time or date, or worse.

Improving your rental equipment procurement process results in less errors, improved financials and, critically, a better relationship with your rental supplier.

Here at IronUp, we’ve identified the 6 aspects of an ideal equipment rental RFQ:

  1. Handling of the organizational approval workflow
  2. Clear delivery and call off calendar expectations
  3. A standardized list of equipment types
  4. Proactively identified alternative types
  5. A preferred model list builder
  6. Age maximum controls

Next, we’ll review each of these.

Handling of the Organizational Approval Workflow

Each company is unique in how they manage the internal approval workflow for rentals. Sometimes operations/the job has freedom to do whatever they want. In larger companies, operations often sends their request through a central equipment team. And normally, that request has to abide by certain approval standards.

And all of this takes time and has many workflow steps that can go wrong.

In a perfect rental RFQ, internal requests and approvals would be done digitally to ensure consistency, organizational approval processes and reduce total time to complete.

The IronUp platform helps digitally memorialize your organizational workflow through our custom workflow features.

Custom Workflow

Clear Delivery and Call Off Expectations

Start dates, end dates, delivery location – these are critical details that, if given through email or phone, can be easily lost on notepads or entered inaccurately.

Details so basic can’t be left up to old, analog processes.

The perfect rental RFQ contains input fields that ensures rental requestors in your organization enter the right information, every time.

The IronUp RFQ Builder feature ensures the dates of the rental, shipping location, project of use and more are always accurate.

A Standardized List of Equipment Types

If you’re in operations, your job is to get the project built. No one expects you to be an equipment expert. But when requesting equipment for a job, we know it’s not always easy.

There’s a model you want.

And if you’re in equipment management – this is a process you have to manage.

The solution is a standardized list of equipment, easily understood and used by both operations and equipment management.

The IronUp platform has a proprietary equipment database, containing equipment types used in the rental industry and built to easily map to the vast majority of rental companies.

Speak a consistent equipment language within your organization and with your rental suppliers leads to less errors and better business.

Proactively Identified Alternative Types

One of the biggest challenges with the rental RFQ process is understanding if and when a supplier has the asset types you’re looking for.

If they don’t, but they have something similar, you’re caught in a phone tag to give approval for the alternative type.

Why not just proactively provide a list of alternative types that is also prioritized?

IronUp does just that. Through our automatically recommended alternative types, we add one asset type larger and one smaller to your alternative type list when you are building your RFQ.

Feature - Alternative Types

A Preferred Model List Builder

The perfect rental RFQ also prepares for the situation where you have “preferred” (or required) models.

This may be for one of many reasons:

  • Your organization has trained your operators on a specific model. With that training, comes extra efficiencies that you want to harness.
  • You have specific technical requirements. Maybe you need a scissor lift that can enter low, interior doorways. Or an excavator with a certain production capability.
  • General brand preference. Maybe your organization just really likes one specific OEM. No problem, share that expectation.

Whatever your reason, not communicating a preferred model is a critical miss in the perfect rental RFQ.

With the IronUp Preferred Model List Builder, you’ll never have this issue happen again. With one click, easily maintain a list of preferred models for your organization, ensuring consistency no matter the job.

Age Maximum Controls

Do you operate in a harsh environment where only the best equipment can maintain uptime?

Or, is there an age limit or technology requirement for your equipment that’s specified by your project owner?

Often, equipment has a maximum age for a project. When you own the equipment, it’s easy to control. But when you rent – not so much.

With the Maximum Age Control in the IronUp platform, you can now be assured that any maximum age requirement is shared consistently and clearly to your rental supplier.

These six considerations, when done well and consistently, we believe makes the perfect rental RFQ.

IronUp Marketing
IronUp Marketing
All things marketing at IronUp.

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