Wynne Systems has announced a synergistic partnership with the American Rental Association (ARA) to support widespread adoption of industry standards for the calculation and reporting of rental business performance.
The ARA Rental Market Metrics™ provides equipment rental companies with a consistent set of standards for the calculation and reporting of critical rental metrics such as a daily rental period, original equipment cost (OEC), time (physical) utilization of equipment, financial (dollar) utilization, fleet age and percentage change in period-over-period rental rates. Wynne Systems is the first software provider in the equipment rental industry space to adopt ARA Rental Market Metrics™.
Michael Stilwagner, vice president of sales and marketing for Wynne Systems, said,“We are very excited about this groundbreaking opportunity to work with the ARA on a project of this scope and importance. The ARA Rental Market Metrics™ will benefit the entire rental industry as a credible method for documenting performance.”
Christine Wehrman, CEO of the American Rental Association, said, “We are pleased about the adoption of ARA Rental Market Metrics™ by Wynne Systems. Standardizing the methods that equipment rental companies use to calculate performance measures will advance individual businesses and industry performance in a consistent manner.”