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Overview
As a discipline, remarketing did not change much from the 30's to the late 90's.
Processes were inconsistent across organizations, paper-based, and relatively inefficient. Then in the late 90's, more and more leases were being sold, leading organizations to focus on remarketing as a way to save money and reduce risk.
In traditional finance organizations, remarketing is viewed as a back-office expense, a cost center, a necessary evil but never as a front-line function worthy of investment. Now technology improvement offers the opportunity for massive process improvement decreasing losses, increasing residual values, reducing risk and serving as a competitive distinction.
This phenomena and industry focus is relatively recent. Only within the last three years have the auctions and manufacturers/captives started paying attention to Remarketing and End of Lease. Realizing the significant value of using the Internet to sell vehicles, organizations began investing heavily into gaining data insight leading to profitable decision making, asset tracking, and integrating with all participants in the value chain, including dealers, manufacturers, inspectors, transportation, and auctions. These organizations are generating revenue and decreasing costs through technology - making remarketing a profit center rather than just cost cutting or risk mitigation.
The opportunities in the area of remarketing are vast and varied. Areas of focus include customer communication and retention, vehicle maturity, and disposal. Some emerging trends in the marketplace are delivering real results, while others stand unproven, potentially delivering just hype. Knowing which solutions will align with your organization's business goals and deliver the highest value can be very difficult.
Emercent can help.
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