Owners of vehicle assets are responsible for over 90% of the auto salvage going to market each year. Independent auctions, on the other hand, provide asset owners with the best possible service and returns on this salvage. Unfortunately, each independent auction uses different technologies and terminology for their processes. This makes managing complexity AND maximizing loss recovery a daunting challenge.
With multiple assignment points and a variety of reporting methods from the individual salvage auctions, asset owners must FIRST normalize this cross-source data in order to THEN analyze it and make intelligent recovery decisions.
Vemark dramatically simplifies all this by providing a integrated process, view, and reporting structure so that the asset owner can easily assign and manage vehicles through the entire cycle, regardless of the auction or method of sale chosen.
Automotive dealers often sell vehicles from their inventory in an auction as well as purchase vehicles from an auction to meet local demand as well as to fill up slack time in their body and repair shops. Attending a live auction is not always convenient or prudent. Vemark enables dealers to not only manage their own fleet of damaged vehicles; but also procure vehicles from weaker markets to fulfill stronger local demand.
Body Shops and Rebuilders
Vehicle rebuilders, whether they are car dealers or body shops, also need a way to purchase and rebuild vehicles that may be difficult to obtain locally but may be easily obtained from other regions of the country. Vemark provides rebuilders with the means to obtain the vehicles they need easily and conveniently via an online auction service.
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Vehicle Salvage Auctions
The landscape for physical salvage auctions is changing rapidly. To compete with larger, 'branded' salvage auctions, independent salvage auctions are pressured to provide similar levels of service. As a result, salvage auctions need to be able to provide a complete view of the salvage cycle - from taking a vehicle assignment through the sale of the vehicle. This cycle includes everything from pick up and storage of a vehicle, processing a title, to managing a sale in either the physical or the virtual world. Vemark provides salvage auctions the means to better manage their vehicle assets, their consignors and buyers, as well as real-time data about vehicle status, processing cycle time, and overall recovery rates.
Salvage Auction Networks
Networks, as aggregates of pools, share a common goal: to achieve economies of scale and bargaining power. They do this by providing asset owners and other consigning sources (such as Fleet, Lease and Rental Car companies) a way to assign a vehicle through a single view and automatically distribute or assign it to the most appropriate or local pool. Consignors also require a common approach to processing the vehicle, assigning it, and reporting on it. Vemark provides networks all the tools and services necessary to manage multiple sources of vehicles and multiple points of processing while providing real-time, integrated management information to everyone involved in the process.
Fleet/Lease and Car Rental Companies
Rental and Fleet/Lease companies need to quickly remove vehicles from their lots to make room for new model replacements, while at the same time recover the cost of assets removed from the lot. Additionally, they require the flexibility to select the best possible means to remarket a vehicle in order to optimize their overall recovery. Vemark provides a one-stop shop of software and services, enabling individual sites or corporations to manage the process.