Posted June 15, 2018

New rental rate tool for fleet managers

The new Rate Group Report from EquipmentWatch determines average ownership and operating costs by size class for owned fleets.

EquipmentWatch introduces a new tool aimed at helping contractors and fleet managers 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.

Rate classes based on the best data available
Creating rate group reports starts with a simple upload of an inventory of the 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. 

Fleet insights can lead to better estimation and cost control
The Rate Group Report provides modern fleet managers with the information needed 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 at 1-888-307-1713.

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