November 4, 2020

Feature Release: Product Tracking

We are proud to announce the launch of our new product tracking feature that will help you to save manual labor and scale your business! Check it out! Β πŸ’₯

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πŸ“‰ The problem: inefficient spreadsheets. Β 

Starting a rental business is a fairly quick process. Once you've created an e-commerce shop, selected your payment service provider that supports recurring payments, and set up some kind of spreadsheet logic to keep track of all products, you're ready to go.

While this is a perfectly lean beginning-scenario, the snowball grows as it goes down the hill. With an increasing demand for rental offerings across industries, you can be sure that if you do things right, customers will also knock down your door - hopefully.

But how should you manage a larger number of customers, especially when you're scaling?

Spreadsheets have this nature of getting more and more crowded and complex over time. Sometimes even chaotic.

Such a scenario will make you end up in a swamp-like business environment, where having an overview of figures and activities will become nothing but foggy. In rental business terms, this can mean having no clue about which asset has been monetized, which subscription extended, canceled, or whatsoever.

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πŸ“‘ The implications: complexity.

This complexity to rental businesses usually results in:

  • fatal business decisions due to the unclarity of how current assets are utilized
  • manual labor because every order is processed individually
  • multi-user spreadsheets in which one person is editing, one is deleting, and another one adding. This way you can hardly distinguish between current data and old data.
  • a disability to scale, as effectively, keeping track of products in spreadsheets stops companies from growth.

That means there are usually two possible solutions: continue as you do and sacrifice market potential, or make a huge investment and build it yourself.

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πŸ’‘The solution: simple and easy product tracking.

Circuly now gives a third option: use an infrastructure that suits your business needs for a physical product rental model.

With the circuly software, you can keep track of all your assets in circulation and automatically log revenue and costs on a unique ID basis. Our customers save up to 45min of manual labor per order now, being able to track everything automatically.

Doing that will reveal valuable data insights into the usage of your assets and equip you to make informed decisions about your next investment.

Scaling your rental business is a game that becomes easy to win if you know your numbers. Feel free to contact us for more information on how we can help you scale your rental business. πŸš€

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