Small rental businesses usually begin by using emails or spreadsheets to manage Customer information and processes. Either of these methods can be effective at first, but they soon fail. “Should we invest in rental business software or stick with Excel solely?”. This is a common question asked by startups in the rental business industry. For startups, spreadsheets might be preferable since rental software is pricey; however, this option is only workable for the short term. Because as your rental business grows, you will have an increased workload. Keeping track of your rental property accounting with spreadsheets quickly becomes tedious. You may spend hours of unnecessary time and risk not being able to claim thousands of dollars on your tax return. Also, In a business, not everyone needs access to all the information; what if you could determine who had access to what information, and to what extent? Sounds intriguing, doesn't it? Rides rental software is the answer! Renting a software system outperforms spreadsheets for several reasons both in the short and long run. Here are some of them:?
 

1. Excel is complex

• Excel involves a lot more than simple calculations for managing a company’s processes. Manually entering the formulas makes it susceptible to human error. The average user finds spreadsheets confusing or intimidating, unlike data analysts who work with them every day. As a business grows, spreadsheets get larger and larger. It makes them harder to analyze. A lose-lose scenario!

2. Unfit to work collaboratively

1. Collaboration among the different departments of rental businesses is necessary. They exchange information and ideas multiple times. They usually do it via email. When there are a lot of similar files going back and forth, it is highly likely someone sends the wrong version. As a result, it is really difficult for different employees to take over if they do not know the reasoning behind the design, causing them to begin from scratch.

3. Maintenance of Data Is Hard

1. Over time, spreadsheets become multi-authored when multiple people use them. Over time, different amendments by different people lead to different approaches, definitions, and formulae. Using such inconsistent documents is hard. It is often difficult to change a spreadsheet if the original creator is not present. Eventually, these bloated spreadsheets become unmanageable.

4. The software keeps you up-to-date

1. There is no easy way to know the current status of an issue is when over one person is working on it. The software helps create a central repository for information so that anyone can view it. This software shows everything relevant to that issue instead of having you remember to add CCs to emails or mass-email a spreadsheet. In addition, it provides neat documentation for future reference.

5. Track of what’s going on

1. A rental software's issue tracking feature allows you to track and report, as well as analyze, how effectively problems are being resolved. When the same problems keep cropping up, it is easier to determine whether someone works efficiently. With spreadsheets, it is impossible to keep track of what's happening within and around your business.

6. Prioritize the workflow

1. Workflow prioritization is easier with issue tracking software. Prioritizing isn't easy when you're bombarded with requests like water in a downpour. It allows you to categorize requests based on agreed-on criteria and to determine when users should expect a resolution. Rather than tail-wagging the dog, this strategy changes the dynamics of the help desk to something much more responsive and efficient.

7. Insight deficit

1. It is difficult for spreadsheets to assist organizations in determining where resources are most needed and justifying allocations based on hard facts. As a result, spreadsheets are a limited resource, unlike software. With the help of rental software, companies can improve accountability, measure department, and team performance, and prevent problems from slipping by the cracks.

8. Continuity is a big issue

1. One can never know what tasks are still unfinished just by looking through email or working out a spreadsheet formula. You can check the status of any issues with the software system even if a key team member leaves. An organization must manage, track, and resolve issues and processes. For decades, businesses have used spreadsheets for everything from facilities management to human resource management. But problems arise. Revamp your issue tracking system now that so many easy and affordable options like Rides Rental Software are available.

9. No audit trail exists in Excel

1. Excel does not store historical data well, such as when the spreadsheets were last edited or previous versions. Therefore, the spreadsheets were not designed to store years of data. This makes Excel more vulnerable to fraud. Changing information is easy, and keeping track of who is changing it is nearly impossible. The lack of historical data makes it difficult to identify who is accountable.

10. Taking uptime

1. A spreadsheet capable of managing the finances of your company requires much thought and planning. You need to ensure that all the formulas are working and make sure that no calculations are incorrect to come up with a working spreadsheet. You'll need time to set things up so that they meet all of your company's financial needs, from expense reports to invoices. It takes time and training to master Excel to the level required. If you don't master it, you will go bonkers. You could even lose track of when the information and spreadsheet are constantly being changed and updated.