Construction equipment: Genie “Ask Me Anything” event to address rental return on invested capital (rROIC)
Utility equipment: Genie webpage will provide information on understanding rROIC and how it impacts rental businesses.
Construction equipment: Genie invites customers to ask questions and get answers about rental return on invested capital (rROIC), during its upcoming “Ask Me Anything” (AMA) event, March 26-30, 2018. On Monday, March 26th, Genie will post an AMA prompt on the Genie® Aerial Pros AMA Event page(link for the event will not work until the event opens on Monday, March 26th), as well as will be shared on social media simultaneously, to garner questions. The post will stay open, or “live,” for questions and comments through Friday, March 30th. The goal of this fifth Genie AMA event is to educate customers on using rROIC to financially plan for business success.
“ROIC is a calculation used to assess a rental company’s efficiency of converting its capital expenses into profitable investments. Essentially, rROIC gives our customers a sense of how well they are investing money to make money,” says Galen Wickstrom, Genie National Sales Account Manager, Terex AWP. “This event will focus primarily on giving our customers information on how rROIC works — and can work for their businesses.”
According to Wickstrom, in the last 10 years, the rental industry has become extremely proficient in the tracking of rental fleets by machine — revenue generated, rental rates, time of utilization, maintenance/repair costs, interest costs, downtime, warranty costs/issues, depreciation and resale prices. “Today’s fleet managers have the ability to determine the profitability of a particular machine or machine model,” adds Wickstrom. “During the event, we will supply our customers with the answers and tools they need to assess rROIC based on the data they already have on their fleets.”
Ahead of this event, Genie encourages customers and key stakeholders to gain preliminary information on this topic through a video presentation, which can be accessed through the Genie AMA Event Presentation. Additional information and resources can be found at aerialpros.genielift.com.
Once questions are posted and reviewed, Genie will post responses from its team members, including engineering and safety experts, to the questions in a timely manner. Customers wishing to participate in the AMA event, or simply to follow the questions and responses, can access the Genie Aerial Pros website in a variety of ways, including the dedicated website aerialpros.genielift.com, as well as via www.genielift.com and through the company’s social media pages: Facebook (GenieLift), Twitter (@GenieLift), LinkedIn (Genie Industries) and Instagram (@genie_lift).
“rROIC a topic that’s gaining a lot of interest in the rental industry, and a lot of our customers are making purchasing decisions with it in mind,” finishes Wickstrom. “Because it’s become so important in how we do business with our customers, now and in the future, we created this event to help participants understand not only what the acronym stands for but also what the implications are for the industry.”
Terex Corporation is a global manufacturer of lifting and material processing products and services delivering lifecycle solutions that maximize customer return on investment. Major Terex brands include Terex, Genie, Powerscreen and Demag. Terex solutions serve a broad range of industries, including construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utilities, quarrying and mining. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services