Insuring Your Contracted Tools

By August 20, 2013Asset Tracking, Blog

As the owner of a rental tool shop, you understand that there is money to be made by purchasing a catalog of expensive specialized tools and contracting their use to the public. However, are you really getting the most value out of these assets? Without an asset control system, it is virtually impossible to minimize the damage and abuse this equipment takes. Fortunately, there is a way to keep tabs on these tools and maximize their utility.

Extending the Life of Your Assets

Asset Panda steps into the rental shop picture by offering to bridge the gap between tool contracts. As each customer returns a tool, you can use the information found in your mobile directory to verify the status of the equipment. Picture entries, customized notes, and serial numbers can all be invaluable for sorting out if a customer has breached the contract. From here you can assess penalties, if necessary, and make decisions on repairs and replacements. If the customer wishes to dispute the claim, you have the information in your asset tracking system to back up your assessment of the tool. Skipping over Asset Panda could provide the perfect opportunity for your equipment to be mistreated and broken, costing your shop even more money.

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