October 22, 2023
There has never been a standard way for equipment rental companies to organize their fleets. This can make it difficult to prepare quotes, present a user-friendly web experience and compare results to peers in the marketplace.
To remedy this challenge, the American Rental Association (ARA) has developed ARA SET.
ARA SET (Standard Equipment Taxonomy) is an organizing approach for equipment rental businesses — a product structure for rental equipment built by industry experts and members like you. It allows rental companies to share data and make comparisons to like products across the industry. ARA SET also helps customers find what they are looking for, especially on your website.
“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 CEO. “ARA worked with rental industry experts and members large and small to develop this important classification schema.”
ARA SET delivers unique benefits for rental companies and software companies alike. See how:
Benefits for rental companies
- Consistent naming convention — Consistent, logical and predictable naming is critical to ensuring data consistency. One framework. No questions.
- More accurate industry comparisons — A standard taxonomy makes it easier to compare one’s own results to regional and national peers and competitors.
- Better fleet organization — A thoughtful fleet organization scheme results in a better ability to serve your customers.
Benefits for software companies
- Easy integration — ARA SET has been designed for easy integration into database-driven solutions.
- Industry-leading credibility — Industry experts, OEMs (original equipment manufacturers) and ARA members have contributed to ARA SET, reflecting the most impactful trends in the rental industry.
- Preferred partnership — When you adopt ARA SET, you become a preferred software provider. ARA will market your solution as “Powered by ARA | SET”.
“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,” says Mary Crosslin, co-president and chief operating officer, Alert Rental Software, Colorado Springs, Colo. “Plus, new clients will be able to get up and running more quickly. Our company maintains a long-standing dedication to serving clients, and the integration of ARA SET underlines this commitment.”
You can learn more about ARA SET, view a demo video and get started here.
