Rental Software, Utilization Reporting, Rental Market Metrics, Equipment Rental Software, Party Rental Software, Event Rental SoftwareHey Y’all, it’s the ARM Dude here. Let me tell you about some big news that is happening in the rental software industry. The fine folks at the American Rental Association have finally released the highly anticipated Rental Market Metrics. Why is that big news? The ARA Rental Market Metrics establish a recognized industry standard for calculating fleet age and utilization reporting.

Historically this has been a fairly daunting task for rental software companies and every rental business would end up with a different method for calculating utilization. This made matters extremely complicated and impossible to compare data between organizations. However the ARA is sharing this standard with the rental software industry so that we may incorporate this capability into our respective systems. This is exciting news because an established industry standard adds weight to your utilization results and gives a true meaning to your data. Furthermore, the ARA has partnered with Rouse Analytics to allow equipment rental companies to anonymously compare their data with others in the same industry and geographic region.

You are now able to perform comparative analysis on how your rates, fleet age, and utilization results compare to your competitors. Identifying revenue gaps and increasing profitability just got a lot easier thanks to the ARA. This is some good stuff folks but don’t just take my word for it. Check out this whitepaper published by the ARA that outlines the Rental Market Metrics. Hurry up though because you may be leaving money on the table for each day that you wait.

ARA Rental Market Metrics INDUSTRY REPORT Rental Industry KPI's Definitions, calculations and examples of Key Performance Indicators developed by the American Rental Association for analysis and comparison. DOWNLOAD THE EBOOK Rental Business Process Review COMPLIMENTARY Request a Business Process Review Have a no-obligation conversation with a rental industry consultant for a "quick hit" analysis of your current rental systems and business processes. LET'S TALK Outgrowing Your Rental Software FREE EBOOK Outgrowing Your Rental Software? Just Ask Your Staff! While complications from your software may seem as if it’s going to hurt your business, this is actually a sign that your business is ready to take off. DOWNLOAD THE EBOOK