Zilliant launches rate optimisation software
By Helen Wright23 June 2014
Software company Zilliant has introduced a new version of its rate optimisation software, developed for the equipment rental industry, and coincided the launch with the International Rental Exhibition (IRE).
Zilliant said its first rental customer in Europe, Cramo, was seeing revenue gains of between 10% and 15% as well as a 6% increase in average rental duration. Around 40-50% of Cramo's business is now being channelled through the software.
The system has been designed to enable equipment rental companies to improve utilisation and revenues by better aligning rates with the market and customer relationships.
The Texas-based company has been active in the equipment rental market for more than six years, with customers in the US including United Rentals, Sunbelt Rentals an Atlas Copco Specialty Rentals.
As part of the programme, it said Cramo was able to introduce a fundamentally new rate structure in Europe, shifting from opaque, continuous term-based rates to more transparent and coherent discrete term-based rates.
Erik Bengsston, Cramo executive vice president, Scandinavia, said the software had helped its sales reps strengthen their relationships with key accounts.
“With Zilliant, we are able to have more rational and actionable conversations about price strategy and tactics with everyone in the business".
Deployed on the company's MarginMax platform, the application is said to deliver rate guidance to sales teams in real-time through their existing quoting systems. It aligns factors such as rental duration, geography and customer spend, then determines rates based on daily, weekly and monthly terms.
Zilliant said the technology resulted in increased transparency for sales reps and customers at the branch depot to help both parties understand how to get the appropriate duration and best rate for the customer’s needs.
"It enables every frontline employee to make the same decisions as the best, most experienced manager", said Eric Hills, senior vice president at Zilliant.
Zilliant's customers are charged relative to the volumes of business passing through the system and the improvements generated.
IRE takes place at the Amsterdam RAI venue in the Netherlands on 24-26 June, 2014.The APEX access platform exhibition takes place in separate halls at the same venue over the same three days, as does the European Rental Association convention.