ERA updates rental toolkit
Before the end of the year, ERA will be releasing, as well as upgrading, a range of resources for rental companies to adapt to the digital and green transitions, improve the security of their businesses and understand the latest developments in the European rental markets.
ERA Equipment CO2 Calculator v2.0
The upgraded ERA Equipment CO2 Calculator will include an expanded scope, enhanced functionality and improved navigation to provide a more comprehensive, easier to use and more practical tool for equipment stakeholders.
The new version will effectively become three calculators in one. In addition to the equipment calculator in the current version, there will also be calculators for handheld tools and modular space, with the calculations tailored to each category of equipment across the parameters of production, transportation, lifetime and utilisation, energy consumption, maintenance and end-of-life.
The new version of the Calculator will also enable users to group calculations for a specific project, task or jobsite, or calculate the carbon footprint of an entire equipment fleet.
The current version of the ERA Equipment CO2 Calculator is available here.
Impact of digitalisation on rental
Digitalisation will transform the rental industry in multiple ways, from improving process efficiency and delivering value from data to transforming organisational and business models.
The Impact of Digitalisation report will define what digital transformation is likely to mean for the rental industry, give examples of best practices, collect successful practices and blueprints applicable to the rental sector, explore options and scenarios for a digital journey in the context of small, medium and large rental companies, and provide practical advice and guidance in terms of the steps a rental company should take to embrace digitalisation.
ERA Market Report 2022
The ERA Market Report, developed in collaboration with IHS Markit (now part of S&P Global), is the leading source of market intelligence on the European equipment rental market and the only Europe-wide industry benchmark. It contains detailed market information and key indicators, including rental turnover, fleet value and investments.
The report will be published on a web-based platform for the first time in 2022, replacing the old pdf format. The web-based platform, which will be hosted on IHS Markit’s ‘Connect’ platform, will contain all the analysis and information that is currently available in the report, but will be easier to navigate and more accessible.
Read more about the ERA Market Report here.
ERA CSR KPI Guidance Framework
The ERA CSR KPI Guidance Framework is a tool to enable rental companies to assess their current approach to sustainability performance measurement and reporting, and rate how well they perform against an industry framework.
It also provides a practical approach to implementing a sustainability measurement and reporting framework depending on an organisation’s level of maturity, from getting started, with nothing currently in place, to industry best practice.
The updated Framework will account for the latest regulatory updates, incorporate feedback from rental companies that have used the Framework for 6 months and establish a benchmark of KPIs so that companies can see how they perform compared to their industry peers.
The current CSR KPI Guidance Framework is available here.
ERA Cybersecurity Guide
Vulnerability to cyberattacks is one of the greatest threats to the rental industry. The ERA Cybersecurity Guide was developed to define the enterprise-wide scope of cybersecurity interventions, identify the core elements of a successful strategy, including the special factors that may impact rental companies, and to outline leading practices being adopted today by leaders in our industry.
The updated Cybersecurity Guide will focus on the latest trends and cyber developments, an additional section covering insurance and a review of industry benchmarks, in particular in relation to rental company investments in cyber defence.
The current Cybersecurity Guide is available here.
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If you have any questions about any of these resources, please contact the ERA Secretariat at [email protected].
This article was first published in the International Rental News (September 2022).