It's still rent and collect. Technology and training help us perform those basics at higher levels of efficiency.
Larry Carrico, Rent One

photo © RTO Online Inc Rent One owner Larry Carrico, pictured here at today's opening of the company's "Empowerment Through Education" conference in St. Louis, Missouri, sees technology as the next-big thing in rent to own.

Rent One founder Larry Carrico kicked off the third annual Rent One  "Empowerment Through Education" managers conference today at the Drury Plaza hotel in downtown St. Louis, Missouri.

Why is education important? Ask Larry Carrico what will be the next-big-thing in rent to own and you won't here about next generation electronics or plasma TVs. You will here about the use of education and technology at every level to improve operational efficiency.

Carrico says it more and more about price. "We're in a buyers market as opposed to a sellers market. As the customer demands more and more service for less and less money, we must find ways to make our operation more efficient." As rental-purchase becomes a game of inches rather than yards, Larry increasingly sees technology as Rent One's competitive edge. "When we first started, things were simple. Today there are so many key factors that contribute to a company's ability to compete that truly managing the details is critical."

Rent One employees "warm-up" before Monday's opening session

Rent One encourages communication between employees. While other companies are restricting access to email and the internet, Rent One requires all managers to check their email at least 3 times per day. This emphasis on constant communication is an extension of the company's extreme-service philosophy and it carries over to customers. RTO Online performed a Virtual Customer Service test in 2004. We contacted 27 rent to own companies through online forms and email to check response times. Rent One responded faster than any other company (See story).

"It's still rent and collect," says Carrico. "Technology and training help us perform those basics at higher levels of efficiency."

RTO Online will publish a photo gallery of today's events later tonight. Please check www.rtoonline.com for updates.