The market for automobiles and vehicle hire/car rental apps is constantly expanding. According to Zion Market Research, it has the potential to be worth up to $160 billion by 2022. Importantly, such expansion will occur almost everywhere on the planet, including emerging countries. This is a significant potential not only for established enterprises but also for newcomers to the market.
The above-mentioned markets’ expansion gives enormous prospects not just for the largest enterprises, but also for those just getting started. Automobile-related startups frequently have innovative ideas for new features, business methods, and consumer benefits.
Automobile rental software that considers social trends, such as the shift from traditional ownership to sharing economy, is a factor that provides enormous prospects for car rental firms.
Automated Check-In and Check-Out:
A car rental software‘s most fundamental function is booking management. The application should be advanced enough that customers can make bookings online rather than physically going to the store. From taking down the customer’s basic contact information to information such as the ride’s duration and destinations, time and date, and pricing negotiation, the software must be able to conduct all of these processes quickly, efficiently, and reliably.
On the one hand, although the software streamlines the booking process, it should also consider allowing customers to cancel rides quickly if they so desire. It should also ensure that the corporation and the consumer are both on the same page when it comes to the ride. It should also consider penalizing a customer who has had multiple, unfair cancellations.
Dynamic Pricing and Price Comparison:
The vehicle tracker should be able to compile all rental pricing into a single table, making it easier for customers to find the vehicle they want. It should also be able to alter rents based on demand, peak season pricing, or special offers. It should also allow users to compare different cars. This allows passengers to make an informed decision, taking into account all relevant considerations and expenses.
In-App Document Verification:
You don’t want to get yourself entangled in a legal knot because the customer has most likely forgotten his license or the paperwork has expired during the voyage. The entire process of hiring a vehicle is made easier by digital scanning of the driver’s license and other paperwork. The application allows you to obtain a scanned copy of the driver’s license at the time of registration and save it in the database for future passenger rides. Keeping track of the documents by hand would be inconvenient.
Track Pending Payment:
Pre-rental fees may not always cover all of the costs. When reservations and transactions are made online, it can be a little more difficult to settle the charges. Modern applications, on the other hand, put you in command by providing a quick summary of previous reservations and transactions.
The software also serves as a repository for all customer information. You can always check if there are any outstanding payments before making a new transaction. They won’t let you make a new reservation until the payment backlogs are cleared.
Many individuals nowadays travel together or share a vehicle, but splitting the bill might be difficult. The software should make income collection easier and split bills automatically between one or more parties. Additionally, the software should allow travelers to split rental fees between two distinct modes of payment.
Vehicle Maintenance and Damage Tracker:
The application should be capable of assisting you in determining the fleet’s service needs. Not only can you arrange the repairs, but you can also make sure the automobile is rented near the servicing location. As a result, you won’t miss out on client revenue or neglect the car’s requirements. Rental software providers can enhance utilization by synchronizing maintenance and vehicle damage status with service demand.
Apart from the capabilities described above, vehicle tracking, an SOS button, invoicing management, automated maintenance notifications, and an in-built navigation system are all must-haves if you want the software to improve your business.