As auctions and remarketers seek improved methods for tracking sales performance and forecasting market trends, R. Charles Nichols, president of ServNet and BSC America Auctions in Tallahassee, Fla., and Bel Air, Md., has announced that ServNet has partnered with AutoIMS to provide collective analytics utilizing the data contributed by all ServNet auctions across the country.
"Analytics and statistical reporting are important resources used in developing comprehensive remarketing programs, and we are pleased to report that ServNet has added to its arsenal a sophisticated new tool that measures business performance," reports Nichols. "Our agreement with AutoIMS allows ServNet to access the building blocks of a strong analytics package that our clients are requesting. While each auction can access this data on an individual basis, the new structure allows us to provide data on a consolidated basis for all of the 32 ServNet auctions."
Added Patty Stanley, ServNet's Vice President and owner of Carolina and Indiana Auto Auctions: "Analytics is becoming the next major battleground in the competitive landscape for our industry. It is critical that ServNet Auctions be ahead of the curve, and using AutoIMS as our base makes the most sense."
Nichols explains that the AutoIMS data will allow ServNet to assist remarketers in determining both national and regional sales patterns as well as provide comprehensive analytical reporting, drawing on the data available from all the ServNet auctions.
"With ServNet's national footprint and the full participation of our member auctions, we will be able to offer our customers market data and comprehensive analytics for all regions, coast to coast," says Nichols. "These reports will demonstrate the benefits of working ServNet auctions, gauging performance strength on both a regional and national basis."
"We are excited about the opportunity to collaborate with the ServNet Auction Group,' said Keely Smith, Director of Business Development for AutoIMS. "We are looking forward to working with ServNet to provide targeted analytics. Through dialogue and discussion, we will continue to uncover new methods of reporting that will both attract new business for the group as well as cement proven relationships." Concluded Nichols: "With the data provided by AutoIMS, we can prepare reports demonstrating that ServNet auctions bring the strongest possible buying power to the auction lane, in all areas of the country."
The ServNet Auction Group is a network of America's best strategically located independently-owned wholesale auto auctions. Since 1988, ServNet member auctions have been working together to provide a full range of remarketing services to its customers, including the best auctioneers, inspections, reconditioning, transportation assistance and inventory financing. The ServNet Auction Group is managed by TPC Management with headquarters in Franklin, TN.