Contact: Samantha Lake
For Immediate Release
CFMA & AEMP Unveil Heavy Equipment Comparator
to Enhance Construction Equipment Fleet Performance
June 23, 2023, PRINCETON, NJ — Construction Financial Management Association (CFMA) and the Association of Equipment Management Professionals (AEMP) proudly announce the launch of the groundbreaking Heavy Equipment Comparator (hecomparator.com). This tool has been developed to revolutionize the evaluation, measurement, and enhancement of equipment fleet performance. By collaborating over the past three years, CFMA, AEMP, and Industry Insights Inc. have established comprehensive industry standards and benchmarks to effectively assess equipment maintenance performance and costs.
Recognizing the industry’s long-standing need for uniformity in measuring equipment maintenance performance and costs, AEMP and CFMA launched the Heavy Equipment Fleet Management KPI Survey. The survey evaluated 32 key performance indicators (KPIs) spanning nine categories, with participation from 57 companies—representing more than 10% of the eligible survey population.
With the Heavy Equipment Comparator, construction financial professionals and fleet managers can now identify operational issues and make the necessary adjustments to enhance fleet productivity. This product empowers users to set performance benchmarks to measure progress, compare their performance against industry benchmarks, understand their operational health comprehensively, and make crucial adjustments to achieve their strategic objectives. By identifying areas for improvement and fostering the sharing of best practices across the industry, participating companies can anticipate improved equipment reliability, heightened utilization rates, and lower operational costs.
“The launch of the Heavy Equipment Comparator is a significant milestone for the construction industry,” says Rich King, CPA, CCIFP, Treasurer/CFO at Schlouch Incorporated and Co-Chair of this product for CFMA. “We are thrilled to provide construction financial professionals and fleet managers with an unprecedented tool to optimize their operations. By offering a standardized platform for performance evaluation, we aim to foster industry-wide improvement, elevate fleet management practices, and drive sustainable success.”
By harnessing the power of the Heavy Equipment Comparator, construction professionals can optimize their fleet management practices, reduce costs, enhance equipment reliability, and unlock unparalleled operational efficiencies.
To learn more about the Heavy Equipment Comparator, visit hecomparator.com.
Founded in 1981 and headquartered in Princeton, NJ, CFMA is an individual membership organization and the only association dedicated to bringing together construction financial professionals and those partners serving their unique needs. CFMA provides invaluable resources and education to its more than 9,000 members and 99 chapters across North America. In cooperation with its Certified Construction Industry Financial Professionals (CCIFP) division, CFMA promotes industry best practices and continuing education in support of its mission: to build impactful construction financial professionals and create communities for networking and collaboration for our members that advance the construction ecosystem. Visit www.cfma.org for more information.
AEMP is the premier organization for equipment managers and professionals who manage and maintain heavy, off-road fleets. AEMP members work in construction, government, utilities, energy, mining, and any other industry that requires the effective deployment of heavy equipment. AEMP’s Certified Equipment Manager (CEM) and Certified Equipment Support Specialist (CESP) credentials are some of the most respected in the equipment industry and help set AEMP members apart for their mastery of fleet management skills and their ability to interact on a professional level in all fleet-related disciplines. Since 1982, AEMP has been a core content framework that focuses on technology, financials, and connections. Visit www.aemp.org for more information.