Wynne Systems, Irvine, Calif., is the first software company serving the equipment rental industry to achieve ARA Rental Market Metrics certification from the American Rental Association (ARA).
ARA Rental Market Metrics provides equipment rental companies with a consistent way of calculating, benchmarking and reporting critical performance measures. It defines industry standards for the definition of a day, original equipment cost (OEC) and for the calculation of time or physical utilization of equipment, financial utilization, fleet age and percentage change in period-over-period rental rates.
“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,” says Christine Wehrman, ARA’s executive VP and CEO. “It is a priority of ARA to make this business management intelligence available to rental businesses of all sizes.”
Equipment rental industry software providers continue to be licensed for ARA Rental Market Metrics. ARA Rental Market Metrics provides equipment rental companies a way to measure the performance of their business with a common benchmark that can be used within the company, by industry professionals, investors and analysts to compare a company’s performance over time and in relationship to a competitor.