Rental industry analytics company Rouse Analytics has added five new rental company participants to its Rental Metrics Benchmark service.
It said it now provided rate and utilisation benchmarking services to 52 equipment rental companies across the US.
Rouse Analytics launched its benchmark reporting service in January 2011 in co-operation with the American Rental Association (ARA), with initial participants United Rentals, Hertz Equipment Rental Corporation, H&E Equipment Services, NES Rentals, and Neff Corp.
Over the last three years, it said it added 47 rental companies including Ahern Rentals, Sunstate Equipment and BlueLine Rental, as well as 27 Caterpillar dealers and 17 independent rental companies and heavy equipment dealers.
The service collects invoice-level transaction data and nightly fleet snapshots from participating rental companies and reports industry benchmarks for rental rates, physical utilisation, dollar utilisation, fleet age, and other key performance metrics at a local market level.
Participating rental companies receive a summary level comparison of their rental rates and other key performance metrics to local market benchmarks every month at no charge, and then have the option to purchase more detailed reporting.
Gary McArdle, Rouse Services executive vice president and COO, said, “We long believed that rental companies needed a way to measure performance on rental rates and key operating metrics, and we’re proud to have collaborated with the ARA in their development of the ARA Rental Market Metrics standard that is used in our Rental Metrics Benchmark Service.
“The rapid growth of our Rental Metrics Benchmark Service demonstrates how valuable this information is to rental companies, and we’re looking forward to additional growth here in the US and internationally.”
ARA CEO Chris Wehrman added, “We created the ARA Rental Market Metrics to improve visibility regarding the importance of industry standards. We are extremely pleased with the success Rouse Analytics has had in implementing the metrics and providing benchmark information to rental companies.”
Rouse Analytics also writes a regular column for International Rental Magazine exploring equipment values in the US and UK. View the latest issue online here. (For details on how to subscribe for free, click here.)