Getting value from under used gear

Whenever a piece of construction machinery sits idle, it costs its owner money in interest, maintenance, insurance and storage. EquipmentShare offers a service that makes owning machinery more economical by providing a platform for contractors to rent equipment when it’s not in use.

In the same way that AirBnB allows people to monetise their spare rooms, EquipmentShare allows contractors to get new value from under-utilised equipment, it says.

The power behind EquipmentShare is its proprietary ‘ES Track’ software, a specialist asset management system. ES Track uses GPS and Telematics technology to track location, utilisation and maintenance across mixed equipment fleets. This information means equipment can be instantly located and dispatched to rental jobs.

Furthermore, says the company, equipment owners can easily determine when they should be renting, expanding or reducing their fleet based on real­time information.

“ES Track also provides added security and control of assets across multiple sites. For those renting equipment, ES enables an easy snapshot of rented equipment across their job sites, invoices and other information.”

EquipmentShare is now in its eighth month here and is operated by cousins Danny and Michael White. Danny is a qualified Marine Engineer and Michael has a background in civil and geotechnical engineering.

For the last few years, technology commentators have predicted more and more companies will move to sharing platforms to avoid being sidelined, they say.

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