Importance of Equipment Management and Rental

1.    Technology, ERP solution trends

Equipment Management, and Rental companies, operations run and manage complex businesses, and business processes. Independently if you are doing Equipment (Sale, Purchase), Service, Parts, or Rental you demand a lot of key customers, history, equipment, financial, and other information to serve customers effectively. Additionally there is a very tight relation, integration between business areas and processes, as an example in Rental business, companies have to manage above Rental equipment Purchasing, Fleet management, Sale (used), Service to maintain the rental fleet, Parts to sell to a customer and to fulfill service demands, and on top everything has to be integrated with Finance / Controlling / Fixed Asset and Reporting as well.

To serve these complexities, and end-to-end business processes a central, embedded, robust ERP based the solution is needed, what is provided by FIT Global utilizing strong capabilities of SAP S/4HANA within FIT`s Equipment Management (EM) and Rental Management solution add-ons. Maintenance, data access, data consistency, reporting is enhanced as well since there is one “truth” of data based on a sole solution. Challenges, issues around 3^rd party system-solution integrations get eliminated as well, because no integrations, interfaces need to be continuously maintained.

The clear technology, and ERP solution trend is to limit 3^rd party integrations, and have all critical ERP and vertical (business specific) requirements supported via centralized solutions to limit the risk of implementation, maintenance, and to facilitate operation with the latest SAP technology-based, and Fiori drove user interface to address east of use, streamlined processes, and mobility.

2.    Key challenges with decentralized systems, solutions

·      Difficult and challenging for IT to maintain multiple, decentralized systems

·      Lack of data consistency, and functionality support to drive business

·      No integration to Finance / Controlling, and to core business-related business processes

·      Limited Reporting capabilities, problematic data extraction from various systems

·      Integrations, Interfaces must be continuously maintained, developed

·      Extending, a growing business can not be supported because of technical, functional limitations

·      New business requirements are hard to adapt and implement

·      Discontinued, end of lifecycle reaching systems, and solutions

3.    How does FIT Equipment Management (EM) and Rental Solution support these challenges?

FIT Equipment Management (EM) Solution is an SAP S/4HANA based, fully embedded industry-specific add-on extending standard, and robust capabilities of SAP S/4HANA addressing the key Equipment Management (EM) and Rental business requirements. All the core business processes are integrated based on a central database, and robust global operation, and management reporting capabilities. The core foundation of SAP S/4 HANA, and the continuous FIT EM product development ensures riskless, long-term growth, and ongoing innovation, extending capabilities for EM and Rental companies. Together with an accelerated, industry best practices based implementation methodology all companies can utilize advantages in the short term.

4.    Overall organization benefits

As FIT EM Solution is an end-to-end centralized solution, the Equipment Management and Rental companies can gain benefit on various levels with this unique, and high-end, future-proof SAP S/4HANA software-based solution.