The American Rental Association (ARA) has launched an important standard for the equipment rental industry titled ARA SET; ARA SET is a standard equipment taxonomy. Alert Rental Software is pleased to announce their participation in this new standard. This industry-impacting taxonomy is the first of its kind and will enable rental stores to classify their rental equipment inventory; to provide consistent reporting; and to help stores accurately and uniformly contribute to industry analytics.
“Similar to when ARA created the standard for rental industry metrics, with ARA SET we are establishing the standard for categorizing assets for equipment rental companies with a logical product category classification system,” says Tony Conant, ARA chief executive officer. “ARA worked with rental industry experts and members large and small to develop this important classification schema.”
Mary Crosslin, Alert co-president and chief operating officer, says: “Alert is incredibly honored to be a part of the team that collaborated with ARA on the new SET taxonomy. The ARA staff, along with their consultants and other associate members, brought a level of expertise to create something that will serve the rental industry immediately, and for many years to come.”
ARA SET will:
- Accurately classify and organize equipment inventory.
- Enable consistent reporting and industry comparisons.
- Create streamlined website navigation to ease customer use.
To continue to improve and expand the ARA SET, ARA will collect anonymized make and model information. The anonymized data will be used by ARA and partners to standardize the rental product categories and assist in reporting and analysis of the rental market.
As part of their participation, Alert will adopt ARA SET into their technology to further empower customers and support this critical industry standard. Anticipating that current Alert users will want to utilize the SET numbering system, Alert plans to offer tools for the re-numbering of existing data.
“ARA SET will give Alert users a default data set – and the corresponding reports – to reduce friction in leveraging industry comparisons and to enhance end-user web experience. Plus, new clients will be able to get up and running more quickly,” says Crosslin. “Our company maintains a long-standing dedication to serving clients, and the integration of ARA SET underlines this commitment.”
To learn more about ARA SET, visit www.ararental.org/research/taxonomy.
About Alert Rental
Alert Rental is a leading supplier of software for rental businesses of all sizes across North America. Founded in 1976, Alert is proud to be a women-owned business and hosts the longest-running user’s group in the industry. Driven by market and technology trends, Alert offers software solutions informed by client feedback and experience in the rental industry. For decades, Alert has worked with top rental companies to develop and enhance technology that saves businesses time, money, and resources – so they can focus on helping their customers bring their projects and events to life.
About ARA
The American Rental Association, Moline, Ill., is an international trade association for owners of equipment and event rental businesses and the manufacturers and suppliers of construction/industrial, general tool and party/event rental equipment. ARA members, which include more than 11,500 rental businesses and more than 1,000 manufacturers and suppliers, are located in every U.S. state and more than 44 countries worldwide. Founded in 1955, ARA is the source for information, advocacy, education, networking and marketplace opportunities for the equipment and event rental industry throughout the world.
