EquipmentWatch revealed a new tool aimed at helping contractors better manage their internal fleet of equipment. The new product, 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 an 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 new Rate Group Report has been made immediately available to subscribers of the “Small/Medium” or “Market Leader” EquipmentWatch plans.

EquipmentWatch is a source for heavy equipment data and intelligence.