EquipmentWatch Launches New Internal Management Tool for Fleet Managers
EquipmentWatch, a leading provider of data, software and insights for the heavy equipment industry, is presenting a new tool aimed at helping contractors better manage their internal fleet of equipment. The new Rate Group Report calculates size-class internal charge rates based on actual fleet assets, giving equipment managers better data for cost control and estimation.
Creating rate group reports starts with a simple upload of a contractor’s equipment fleet. During the upload, EquipmentWatch automatically classifies every asset by category, subtype and size class. The Rate Group Report then calculates size class-specific charge rates by averaging ownership and operating costs for each of the uploaded models, as determined by the Internal Charge Rate product. The result is a summary schedule of rates that can be used across the organization for rental and estimation purposes. Rate accuracy can be improved by providing additional information around purchase prices, annual use hours, fuel costs and more.
The Rate Group Report is designed to provide modern fleet managers with the information required to confidently set equipment rates that keep the organization competitive and profitable. It also provides at-a-glance answers to the questions: “What’s the average age of a particular cat-class in my fleet?” and “How many similar assets do I have across my fleet?”
The new Rate Group Report has been made immediately available to subscribers of the “small/medium” or “market leader” EquipmentWatch plans. Other EquipmentWatch subscribers interested in adding Rate Groups to their existing plan can contact EquipmentWatch sales.
For more information, visit https://equipmentwatch.com.
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.