Wynne Systems achieves ARA 'metrics' certification
By Lindsey Anderson17 September 2012
California-based software company Wynne Systems has achieved ARA Rental Market Metrics certification.
Wynne is the first rental software company to receive the certification. Users of Wynne's software will now be able to generate rental metrics that correspond to the set of benchmark metrics developed by ARA.
"We are pleased that Wynne Systems achieved this important industry milestone. Certification of ARA Rental Market Metrics marks a new chapter in the equipment rental industry," said Christine Wehrman, ARA's 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."
ARA said its Rental Market Metrics provide 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.
"Wynne Systems has always strived to support organizations like the ARA and initiatives that benefit the industry as a whole," said John Bureau, general manager of Wynne Systems. "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."
Equipment rental industry software providers continue to be licensed for ARA Rental Market Metrics. "It is a priority of ARA to make this business management intelligence available to rental businesses of all sizes," Wehrman said.
John McClelland, ARA's vice president for government affairs and author of ARA Rental Market Metrics, said; "Several key performance metrics are unique to our industry. 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".