Fame Rental Software Adds Financing Contracts, Lender Integration
Fame Rental, a modern asset-centric, web-enabled, and comprehensive rental management software, now features fully integrated capabilities that allow rental businesses to handle financing contracts, manage loans and monitor leases on equipment and other assets. Fame showed off its new software capabilities at the ARA Show this week in New Orleans.
According to Joe Lewis, CEO of Fame Rental, “This feature is not available in other software platforms. The Fame capability is vital for rental businesses because it provides ASC 842-compliant lease accounting, automatically classifies short- and long-term liabilities, and allocates interest expense to each asset with each payment. Ultimately, rental businesses benefit because they can better manage equipment amortization, acquisitions, and disposals of financed equipment.”
The upgrade to Fame’s financing management capability sets the stage for the upcoming FameAir Lender Portal launch. Like the FameAir Customer Portal, the FameAir Lender Portal will allow select lenders to have controlled access to information required for periodic compliance reporting.
Based in Westport, Conn., Fame Rental offers innovative web-based software solutions that help rental businesses manage rentals, sales, service, retail, leases, manufacturing, maintenance, inventory, parts, purchasing, accounting, and asset financing, in one fully integrated system.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.