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  • 14 Dec 2015 12:10 PM | Doug Watson (Administrator)

    By Nathan Kallen

    In order for your company to rent gear to a customer it is important that you first be sure the client is trustworthy and are who they say they are.  This is to ensure any sort of attempted fraud is identified prior to shipment.  Once an act of fraud is perpetrated, the odds of ever getting paid or getting your equipment back are very slim.  There are a few stand procedures that rental companies can employ with prospective customers to ensure creditworthiness and good business standing.

    1. Address Verification.  A very simple aspect of lending out equipmet can be where the shipping to address is physically located.  A simple rule of thumb is to always check the delivery address in a tool such as Google Maps.  Does the address look like a business or a residence?  Is it going to an office or a warehouse?  Are you familiar with the general location?  Does the delivery address match the billing address?
    2. Verify Credit Card Information. Have the customer send over various forms of identification in order to accept payment.  For instance, it is common practice to have to show your driver’s license when paying via credit card.  Why not ask for a photocopy of the DL and credit card to make sure that the names match up.  Having a couple of forms of ID on file from a customer is also a good backup method to help you have additional customer information on file should there be an issue.
    3. License Plate Number. It is always a good idea to take a picture of the license plate if a customer is picking up equipment from your warehouse.
    4. Look Up The Company. Looking at a company’s website and their employees LinkedIn accounts is an excellent way to determine if the individuals you are talking to actually work at the company.  Most legitimate companies now have employees fill out LinkedIn profiles.  This will give you a better understanding of who you are dealing with and where they fall on organizational chart.
    5. Ask the company that you are planning on doing business with for a list of references.  Often you may not need to call a reference up, but simply do some research to ensure that all of the information is true.  With reliable references comes a greater chance of legitimacy.
    6. Notify your fellow ITRA members if you suspect or have been a victim of fraud.

    By doing these simple tasks for new customers, you are both ensuring that they will be able to pay you and that you are more likely to get your equipment back.  It only takes a few minutes to increase your level of security.

    Nathan Kallen

    Interested in joining the International Technology Rental Association? Click Here.

    6 Great Reasons to Join the ITRA!

    1) Network with members from across the country and around the world who want to partner with you!

    2) Access products and services outside your current core rental business.

    3) Partner and Joint Venture to manage large, complex, and out-of-geography rental projects.

    4) Get preferred status and purchasing power with national distributors and manufacturers.

    5) ROI. The return on your $595 membership investment should come back to you on your first partner-based rental order.

    6) Receive the latest technology rental industry news, continuing education, manufacturer & installation information, and warnings so that you can keep on top of our dynamic industry.

    Apply for Membership Now!

  • 01 Dec 2015 12:07 PM | Doug Watson (Administrator)

    By Nathan Kallen

    Over time, each and every rental company, be they copiers, AV or computers, will face equipment shortages and geographical restrictions. These are two of the most common reasons that companies cite when joining the ITRA.

    The ITRA was formed specifically to help member companies increase their rental revenue during times of equipment constraints and in parts of the country where they did not have a physical office. In other words, it literally pays for your to join the ITRA and to get to know your fellow members. Where do they work? What kind of inventory do they have? How can you work together.

    GEOGRAPHY – Most member companies only have one or two offices at most. This geographic constraint can also be looked at as a way to enhance your ITRA relationships. Let’s say you are located on the east coast and have an event on the west coast. Does it make sense to ship your equipment across the country, figure out a tech and then still be able to make some money? Or would a better solution be to partner with a west coast company and crossrent what you need from a fellow member who you know personally that you can count on? And the best part is, you don’t ever have to worry about a fellow member poaching your customers.

    INVENTORY – None of us has everything that we need all of the time. It’s just not possible. Technology changes. And sometimes we all have to rent equipment. This is another great opportunity to get to know a fellow member. When you face inventory constraints you can count on fellow ITRA members to give you fair pricing, terrific service and be a trusted business partner.

    By increasing your awareness of geographical and inventory issues you can actually increase your margins. And best of all, the member companies of the ITRA will also learn to call you and your company…which will also increase your bottom line.

    Author: Nathan Kallen

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