More robust data analytics will help customers better run their businesses.
Last month Ritchie Bros. completed its acquisition of Rouse Services, a leading provider of data intelligence and performance benchmarking solutions. This union brings additional data richness to Ritchie Bros., so that customers can benefit even more in using leading market insight to find opportunity with their assets. By working together, Ritchie Bros. and Rouse will enhance the data analytics and service offerings available to both their customers.
Who is Rouse Services?
Like Ritchie Bros., Rouse has spent decades building its reputation as a trusted partner in the industrial equipment industry. In fact, Rouse was founded over 100 years ago as an industrial auctioneer named Max Rouse & Sons in 1920. Rouse auctions increased steadily throughout the 20th century, and the company eventually evolved into an appraisal firm. This transition was made possible by the massive amount of auction and retail sales data collected over the years.
Twenty years ago, Rouse Services started as construction equipment appraisers. Think the Kelley Blue Book for rental products and yellow iron. Today, Rouse is a global information services provider for the construction industry serving predominately equipment dealers, OEMs, equipment rental companies and financing services.
Today, Rouse tracks $65 billion in equipment fleet value, $25 billion in rental revenue, and $19 billion in sales transaction data annually.
What does Rouse Services do?
As a central hub for equipment data, Rouse uses industry-leading software to collect and analyze fleet and transactional data to build a very strong point of view of where the equipment market is on any particular machine. This gives Rouse a deep understanding of where the marketplace is at in terms of secondary market pricing and real-time equipment rental activity.
The Rouse equipment values and rental benchmarks are considered the gold standard in the equipment industry. An accurate understanding of the marketplace today helps equipment rental companies and dealers undertake informed selling and renting decisions and enables lending institutions to extend financing with confidence.
Here’s a snapshot look at the three pillars of Rouse Services:
- Actionable rental rates and utilization benchmarking intelligence
- Insights to support fleet decisions around growth, category mix and geographic redeployment
- Robust online and mobile delivery platforms
Ideal solution for: Construction rental companies who need actionable, confidential, accurate benchmarking solutions tailored to their needs.
- Automated equipment values on machines in fleet
- Powerful tools to drive marketing and facilitate direct-to-end-user sales
- Comprehensive desktop and mobile delivery platforms
Ideal solution for: Private dealers who want to optimize and boost their resale process with an automated equipment valuation system and supporting remarketing tools
- Equipment appraisals to support accurate loan underwriting
- Valuations to support M&A activity and acquisitions accounting
- Delivered through proprietary analyses and reports
Ideal solution for: Financial services companies and their borrowers who want current equipment values, detailed liquidation studies and custom analyses to support their asset-based loans and potential acquisitions.
How does Rouse joining Ritchie Bros. help customers?
Rouse helps equipment rental companies and dealers understand how their rentals rates, utilization and metrics compare to the market, thus making better informed decisions with their assets.
Here’s an example: Rouse can determine your average rental rate for a scissor lift in the Los Angeles area and see how that compares with a range of rates we see in the market overall. This is a critical business intelligence tool that customers use to measure the effectiveness of their pricing and fleet management before making decisions about their go-to market strategy.
Ritchie Bros. is excited to bring these services to its customers around the world, while providing Rouse with the power of Ritchie Bros.’ expanded sales force. Rouse offers a complementary tool kit to what Ritchie Bros. offers today with its RB Asset Solutions (RBAS) platform.
"With Rouse as part of the Ritchie Bros. family of solutions we increase connectivity and deepen our already strong relationships with fleet owners and asset-backed lenders,” said Ann Fandozzi, Chief Executive Officer, Ritchie Bros. “Together we are stronger and will accomplish even greater things for our customers!
Stay tuned for more news and announcements on product innovation between Ritchie Bros. and Rouse Services.
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