The following is a blog from 2019 Point of Rental International Conference sponsor Rouse Analytics, whose software provides industry insight which guides rental decisions.
Companies in the equipment rental industry often must make critical business decisions on rental rates, fleet allocation and performance management with limited information about what is happening in the market. Rouse Analytics removes the guesswork in this process by providing benchmarking on key performance metrics relative to market competitors. Using actual rental invoices and daily fleet snapshots, Rouse provides rental business owners and managers with an understanding of their performance against the market. This enables them to make important business decisions using facts rather than anecdotal information from sales reps and customers.
Once the Rouse module is activated in Point of Rental, clients are immediately empowered to make data-driven decisions to drive long-term strategies. Understanding performance on rates, equipment utilization, growth and other important metrics gives managers confidence they are making sound decisions around pricing and fleet management. Trending performance on these metrics over time affords clients the ability to understand the impact of pricing and operational changes. Minor adjustments in fleet allocation can lead to substantial gains in revenue and operational efficiency.
All Point of Rental customers receive a 60-day free trial of the benchmarking service, including unlimited access to the web portal and mobile app. During the onboarding process, Rouse classifies all equipment into one of more than 1,500 Rouse product types and thoroughly validates the data it receives. Forming strong relationships with clients and understanding their equipment rental and sales processes through data helps Rouse quickly respond to a customer needs and requests. Alerting clients of missing or bad data can help expose and rectify shortcomings in the rental process. Rouse’s intuitive web portal provides comprehensive reporting by location, sales rep, customer and product type while allowing for transaction-level comparisons. The Rouse Rental mobile app makes it easy to view asset location and availability, market and internal rate targets, and utilization metrics wherever you are.
Currently, more than 180 companies across North America are participating in Rouse Analytics’ benchmarking service. This represents over $60 billion of fleet on a cost basis and $25 billion of annual rental revenue. During and after the trial period, all participating companies receive complimentary reporting on their own rates and metrics, as well as a high-level report comparing their performance by equipment category and location to the industry. Companies have the option to order detailed Cat-Class-level benchmark rate and metric comparisons on an a la carte basis each month. No ongoing orders or subscriptions are required; participants can choose on a month-to-month basis what markets they want to order.