BigRentz CEO gives advice on preparing the Rental Market for the future

The CEO of BigRentz, Scott Cannon, was chosen as a key panelist at the American Rental Association (ARA) Show 2019 to discuss the role of technology in shaping the future of the rental industry over the next 10 years, and how it can make companies more efficient and profitable. The technology panel included moderator Wayne Walley, editor at Rental Management, and executives from other technology companies.

ARA is an international non-profit trade association for the equipment rental business and has members in 30 countries worldwide. The week-long event is attended by more than 7,000 people, and this year took place at Anaheim Convention Center from February 15-21st.

BigRentz is the nation’s largest online construction equipment rental network and Cannon shared with the audience the importance of data and analytics in driving better processes, including decisions like the pricing of rentals, unitization forecasting, and real-time access to available inventory.

He commented, “It was a great privilege to be part of a panel of specialists at such a prestigious show. I enjoyed sharing my insights on technology and hearing the questions and challenges people in the industry face. I truly believe that more updated processes and automated online rentals provide a better customer experience, more revenue and higher customer retention.”

He added, “Full adoption of technology within the industry still has a long way to go, but 10 years from now the rental industry will be primarily driven by data analytics.”

The ARA expects equipment rental revenue to reach $56 billion next year. The association serves not only the construction industry, but also industrial, party, event and wedding rentals.