The American Rental Association said this week that Wynne Systems is the first software company serving the equipment rental industry to achieve ARA Rental Market Metrics certification. The metrics provide equipment rental companies with a consistent way of calculating, benchmarking and reporting critical performance measures.
ARA’s RMM defines industry standards for the definition of a day, original equipment cost and the calculation of time or physical utilization of equipment, financial utilization, fleet age and percentage change in period-over-period rental rates.
“Certification of ARA Rental Market Metrics marks a new chapter in the equipment rental industry,” said Christine Wehrman, ARA executive vice president and CEO. “The ARA has been working with software companies to license and certify the use of ARA Rental Market Metrics to further the growth and professionalism of rental companies within the industry and help analysts and financial institutions better understand the equipment rental industry.”
“Wynne Systems has always strived to support organizations like the ARA and initiatives that benefit the industry as a whole,” said Wynne Systems general manager John Bureau. “We are very proud of being the first software company to achieve certification and are excited to see how it will improve business and industry performance.”
“Several key performance metrics are unique to our industry,” added John McClelland, ARA vice president for government affairs. “Most of these metrics are associated with fleet efficiency and utilization. The lack of consistency in reporting metrics makes it virtually impossible for industry analysts and investors in equity and/or debt instruments to make meaningful comparisons among rental businesses in the industry. ARA’s goal was to provide standards that further quantitatively define the equipment rental industry. We hope that more software companies will achieve certification soon so equipment rental companies at all levels of rental revenue will have the information available to better tell their story in a language banks and financial institutions can understand and reference to better judge risks and investment opportunities.”
Wynne Systems is based in Irvine, Calif., with locations in Indianapolis; Paris; and Antwerp, Belgium.