Business Mantra: Faridabad
Last week two medals by Indian girls in RIO Olympics-2016 were certainly an inspiration to many Indians. Sakshi Malik’s bronze medal journey taught me a new English word ‘Repechage Bout’. It means another chance for those who lost their early match to a contender who make it to finals.
In relation to Indian Car Rental business scene, our car rental companies lost first battle to the supremacy of Uber and OLA but by Repechage logic are eligible to get another chance to claim a position on podium.
A certain question is on the kind of bout they have to fight. I guess it is against their own limitations and incompetency in the following areas.
- Mobile APP for customers for ease of making bookings.
- GPS based billing to bring in transparency.
- Vehicle tracking capabilities to improve TAT for short notice requirements as well as bring efficiency in operations.
But the bigger question is on their capability to implement all this.
Uber and OLA have invested a lot in technology development, implementation and owning it also. But car rental companies with a fleet size of 10-500 need not to reinvent the wheel.
Today we know what is required. In a world of fast updates and upgrade one shall not be bothered for owning technology. The only piece they should be looking for is a technology partner who can do this for them.
A technology partner who is well versed with GPS technology, experienced of implementing solutions in this domain, stable and capable of technology upgrade shall be an answer to the requirements.
Certainly almost all of traditional car rental companies are having some billing solution with them, which holds their confidential customer rate card information and also a settled working team on the software in use.
It will be best to have a partner who has these APP products and which can be integrated with existing billing software in use thus avoiding the big risks involved in changing core software platform in any company.
SAAS (Software-As-A-Service) based offering with per transaction or per car per month based commercials can ease the pressure of huge investment.
Some car rental companies are already evaluating available solutions and I hope many will follow to keep themselves in competition.
This is my first such post on social media after experiencing technology implementation in car rental domain from last 12+ years. Your suggestions are welcome!