Wynne Systems Achieves ARA Rental Market Metrics Certification

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.

ARA Foundation Awards Scholarships

As part of its mission to implement programs that create educational opportunities, the ARA Foundation scholarship committee selected 27 students to receive scholarships for the 2011/2012 academic year. Twenty-one Foundation scholarships awarded, as well as 16 scholarships for the ARA Foundation’s affiliate programs. Many students received multiple scholarships, which range from $500 to $3,000. The scholarships are awarded to students pursuing an education related to the equipment rental industry at technical/vocational schools, community colleges, undergraduate colleges and graduate schools.

Applications for the 2012/2013 ARA Foundation scholarships will be available in the fall of 2011. More information on the scholarship program is online at www.ARAfoundation.com.

Rental Industry Trends Upward

Attendance at The Rental Show 2011 displayed a marked increase over 2010, reflecting a renewed optimistic attitude throughout the rental industry. The Rental Show was Feb. 27-March 2 in Las Vegas.

The number of rental business personnel in attendance increased nearly 40 percent over The Rental Show 2010, while the number of rental businesses represented increased just under 30 percent. Attendees came from the United States, Canada and 39 other countries.

Attendees were actively buying on the trade show floor, with many exhibitors reporting optimistic sales that began as soon as the floor opened. Optimism was reflected in the Construction/Industrial department as well.

“After a couple years of heads down, walk-right-past-our-booth traffic, it was great to see some long-time friends stop by to talk about machine purchases,” says Dave Garton, marketing manager of John Deere Construction & Forestry, Moline, Ill. “It was even better to meet some new contacts and learn about their business. The best word to sum the show up actually comes from one of our customers who said people seem to have more ‘confidence’ than they have in the past.”

Results from The Rental Show reinforce the latest findings from IHS Global Insight, which reflect an optimistic future for the rental industry. Overall, total U.S. equipment rental revenue is projected to increase more than 7 percent during 2011, with a forecast for even stronger growth predicted through 2015.