Key Concepts

Learn the key concepts of Loopit. It's very easy to use!

Loopit Modules

Loopit comes with three modules. Below is an outline of some of the key capabilities within each of these modules.

Fleet

Manage and track your fleet from journeys to costs to revenue. Key capabilities:

• Keep your fleet in great condition with the ability to conduct handover inspections or scheduled inspections of vehicles

• Understand your fleet profitability metrics through recording and tracking acquisition price, holding cost, disposal dates, disposal costs

• Plan your fleet for seasonality and understand the current state of the fleet through different calendar views, block out dates, maintenance schedules and more.

• Never forget key dates or tasks with the ability to set scheduled or distance based reminders for maintenance, registration renewals and more.

• Take a proactive preventative maintenance approach with the ability to track issues with the vehicles and costs to address the issues*

• Level up your fleet insights with deep telematics integration to track journeys, engine alerts, odometer history, crash alerts and more.*

*Coming Soon

Booking

Schedule and book vehicles with custom workflows and screening processes.

• Support at the counter walk ins with an on-platform booking flow

• Customize your screening process by your offerings to offer (for example) one set of rules for your rental customers and one set of rules for internal staff booking of a vehicle.*

• Make your brand stand out with white label capability for all end-customer facing communications and interactions.*

• Deliver exceptional customer experiences with a professionally designed, UX optimized sign up experience, handover experience and customer portal app.*

• Securely request and store documents for screening with Loopit TruPass*

• Keep all your communications with the customers in one place with integrated email and SMS communications in Loopit.*

*Coming Soon.

Billing

Design your offerings for your customers and specify the rules. Create custom payment rules for different scenarios such as late payments and payment plans,

• Offer multiple programs from the one platform with Loopit. You can easily create a rental program as well as a subscription program. No more need for multiple systems!

• Customize your charges to your liking including the ability for advanced pricing options such as risk based pricing and usage based pricing.

• Understand your financial situation with real time insights on payment success and failures

• Optimize and improve your arrears with custom payment plans capability and custom dunning workflows.*

• Automate the repetitive tasks with automatic late payment fee application, or automatic calculation of pro-ration where you require.*

• Attract more customers with promo/discount codes and gift cards.*

• Improve your toll and citation recovery rate from customers with automated toll and citation management and billing.*

• Seamless integration into your accounting system.*

*Coming Soon

Key Concepts and Terminology

Loopit has a few terms that are used throughout the platform. Below are the key concepts to understand how we might differ from tools you have used in the past.

Assets

Assets are any inventory you wish to record and track in Loopit. Below is a list of some of the assets our customers are using Loopit to manage:

• Cars

• Vans

• Trucks

• Trailers

• Scooters

• e-Bikes

• Boats

• Commercial Machinery (eg Forklifts)

• and more!

Any asset type can be created and loaded into Loopit. Within each Asset, Loopit will record a historical timeline of all activity associated with it. This includes Bookings, Inspections, Issues, and Journeys.

Each asset can be assigned to one or more categories.

Bookings

Bookings is the simple term to manage all of your asset reservations are out with a customer or internal staff member. This can be a rental booking, a subscription booking, a lease, and more. Anytime when you provide an asset that is being utilized, you should create a booking.

There are multiple statuses to a booking. Visit the Bookings article to learn more.

Categories

Categories are tags/labels for your assets. For example, you can label assets by class (such as small SUV), or by offering (such as Rental). Categories then form the grouping logic when it comes to pricing your assets and making your assets available to different offerings, programs, customers, screening rules and more.

For example, within Loopit, you can set up a package that are only eligible on certain vehicle categories. Alternatively, you can price vehicles by category name.

Companies / People

Companies and People are your individual customers. You may have a retail consumer renting a vehicle, or you may have a fleet booking with a company taking out multiple vehicles. Companies and People form the basis of Loopit's customer management tools.

People can be associated with multiple companies (if you desire).

Companies can have mulitple people belong to them.

Bookings can be placed against either a Company or Person.

Inspections

Inspections are conducted against Assets. These inspections can be conducted on either a schedule (for example, every 6 months) or on a handover of a vehicle (for example when a customer picks up or returns an asset).

Each inspection conducted is based off an Inspection Template. These inspection templates can be created and customized in your workspace.

Locations

Locations are nested under Workspaces which helps categorize and define different pickup and drop off locations and/or warehouses that you may offer to your customers. Locations are a core part of reporting and allow you to segment your data e.g. Revenue per location.

Packages

Packages are the offerings that you provide to your customers. These can be paid offerings or non-paid offerings (for example, internal staff booking of a vehicle).

Within each package, you can define the charges that are applicable to the program that you have. If you have tiered packages (such as a low, medium, high tier offering for subscription), you will need to create one package per tier.

Loopit's package system is very powerful as it can define asset categories for eligibility, usage charges and rules, screening requirements and more. Further information can be found in the Packages page.

Programs

Programs help control the packages and how customers create a booking. Programs include subscription, rental, recurring long term rental, loaner vehicles, etc. To learn more visit the programs page.

Users

Users are your internal staff members who need to use Loopit to operate, report, track and manage assets or customers. User accounts can be created and permissions set based on rules that you define.

Workspaces

Workspaces are the container that will hold all the information for your business. All data within the workspace is contained and segregated. Read more about workspaces.