Acquisition Strategies for Rental Equipment Companies: Part 2


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Acquisition Strategies for Rental Equipment Companies: Part 2

Today’s blog post is the second in a four-part series focused on rental equipment acquisition strategies. We zero in on what data should be migrated from the old system to the new, and some additional considerations when making these decisions.

Whether you’re running identical or different software, you should determine well in advance which objects will be migrated over from the retiring system to the present state system. Here are just a few of the more standard objects to bring over:

  • Customers
  • Customer Balances (A/R)
  • Vendors
  • Parts and Merchandise
  • Serialized and Bulk Equipment

In addition, you’ll want to migrate transaction-type objects as well:

  • Open Contracts
  • Open Purchase Orders
  • Open Work Orders
  • Open Vendor Invoices

Of course, there are always some major decisions to be made before simply doing a data dump from one repository to the next. Are you going to migrate all members of the objects (all records contained within a file), or just some based on specific criteria? Here are just some ideas on how to segment the data you would want or need:

  • Customers: Active only, or those with transactions within past x years
  • Customer Balances: Only unpaid balances
  • Vendors: Active only, or those with whom you’ve transacted with in the past x years
  • Parts and Merchandise: Only groups with quantity >0
  • Serialized and Bulk Equipment: Unsold only, or on hand quantity >0

As you can see, there are many ways to slice and dice the data to bring in only the relevant records into your system. And once you’ve extracted that data, how will you handle any possible duplicate records? Which source become the master data when there’s conflict on certain fields?

When you take this information into account, you need to start making some decisions before you start data extraction. Minimizing the amount of noise that comes into your system will certify less pain further down the road.

In our four-part blog series, Acquisition Strategies for Rental Equipment Companies, we go over each critical step in detail to help you before you start planning.

Previously: Part 1: Acquisition Types and Timelines
Next Up: Part 3: Testing and Training

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About the Author

Jill Becker

Jill is a Marketing Manager at Wynne with years of industry experience in software and equal experience in marketing. Jill specializes in our digital marketing efforts and can be seen working hard behind the scenes at our webinars and events or chasing her two little ones. Follow Jill at Linkedin.

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