Automated Rental Management (ARM), San Antonio, is the latest rental software to meet all of the qualifications and requirements for ARA Rental Market Metrics™ certification by the American Rental Association (ARA). ARM is a full-service enterprise resource planning (ERP) and rental software for small to medium-sized companies.
The ARA Rental Market Metrics were created to bridge the gap between inconsistencies in data by establishing an industry standard for calculating fleet efficiency and utilization. These key performance metrics were driven by some of the larger publicly traded rental companies, which are required by federal law to report financial performance to the Securities and Exchange Commission (SEC). ARA created a certification program and approached ARA members in the rental software industry to adopt these key metrics.
“The ARA Rental Market Metrics provide a standardized method for calculating fleet utilization, enabling an apples-to-apples approach for meaningful comparison between rental companies,” said William Vespe, president of ARM rental software’s publisher, BCS ProSoft. “Prior to the standards being set in place, comparison just wasn’t possible without huge amounts of data manipulation.”
BCS ProSoft, publisher of the ARM Rental Software Suite, intends to be an instrumental force encouraging other rental software companies to adopt the ARA Rental Market Metrics.
“This certification enables our existing and future clients to measure the well-being of their businesses and make decisions based on fact rather than educated guesses with a consistent, standardized methodology,” said Clark Haley, BCS ProSoft CEO.
“However it really goes beyond the scope of our business. If we can encourage the other rental software companies to adopt the standardized rental market metrics, the entire rental industry will benefit tremendously,” he said.
“This is one of the reasons we’re grateful to be members of the ARA. They value our input and give us insightful information regarding the latest rental market trends and policies, enabling us to continue innovating our software with new features and functionality,” Vespe said.