Fame Rental recently consulted with the American Rental Association (ARA) in the development of a new standard for the equipment rental industry. Known as ARA SET, it is a new standard that makes it possible to identify and categorize rental equipment.
“We’re excited about ARA SET because our customers will immediately benefit from its inclusion in all aspects of Fame’s equipment management and analytics software. We envision a quick adoption for our customers," said Fame Rental CEO Joe Lewis.
ARA SET Features
- Creates a standard for categorizing assets for equipment rental companies with a logical product category classification system
- Classifies and organizes equipment inventory
- Helps enable consistent reporting and industry comparisons
- Supports website navigation
To continue to expand the ARA SET, the American Rental Association will collect anonymized make and model information. The anonymized data will be used by ARA and its partners to standardize the rental product categories and facilitate market reporting and analysis.
Fame Rental is adopting ARA SET into its technology for customers, supporting this industry standard.
“Similar to when ARA established standard rental industry metrics, ARA SET is now establishing the standard for categorizing assets for equipment rental companies with a logical product category classification system,” said ARA CEO Tony Conant. “ARA worked with rental industry experts and members, both large and small, to develop this important classification framework."