Alert partners with ARA’s SET
The American Rental Association (ARA) has launched an important standard equipment taxonomy (SET) for the equipment rental industry.
Alert Rental Software is participating in this new standard that 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.”
“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,” says Mary Crosslin, Alert co-president and chief operating officer.
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 its 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.″
www.ararental.org/research/taxonomy
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