Auto Rental News

JAN-FEB 2014

Magazine for the professional car and truck rental industry.

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form would be sent in real-time to a central portal that sends out an update, also in real-time, to all other platforms upon which a vehicle is simultaneously posted. Initially, the central portal should be agile enough to support both competitive bidding and "buy now" sale transactions. Online sale platforms would work cooperatively with each other to allow buyers to do business in the sale platform with which they are most comfortable. The IARA believes it is important that buyers and sellers retain the ability to operate on their preferred sales platform, while having access to the maximum exposure of vehicles. The IARA recommends that the online bidding starts at the foor price on each of the platforms. Once the consignor's foor price is surpassed on one site, the vehicle will automatically and instantly be removed from the other sites. The vehicle continues to be available for additional bids on the frst platform that received the original bid until that online sale closes and the bidding ends. If the buyer clicks on the "buy now" sale price, it also instructs the central platform to pull the vehicle from the other sites and move it directly to the sale process. A contentious topic about multi-channel platforms is cross-bidding to maximize prices. The IARA points out that cross-bidding brings a new layer of complexity, and additional time will be required to develop the business rules to facilitate this functionality with cooperation from the sale venues on various challenges, such as coordinating the start and end time of auctions. 5 YEARS... And the most successful division launch in Abrams history. ABRAMS CARSHARING ADVISORS • Bringing the next generation of ground transportation services to rental companies, corporations, institutions, and government agencies. • Offering a turnkey solution including processes, systems, technology, expertise. • Carsharing's time has come...as it responds to shifts in long-term cultural, environmental, economic, and lifestyle trends. BE AHEAD OF THE CURVE! ABRAMS CONSULTING GROUP, INC. Preserving the Entrepreneurial Spirit of the Auto Rental, Travel Service, and Transportation Industries, WORLDWIDE, since 1982. 3020 Westchester Avenue • Purchase, NY 10577-2525 (914) 696-5100 • Fax (914) 696-5101 email: nabrams@abramsconsulting.com website: www.abramsconsulting.com TURNING A CUSTOMER SERVICE PROBLEM INTO A CUSTOMER SERVICE SOLUTION SINCE 1991 MOVING TO A NEW BUSINESS MODEL A central portal allows consignors the ability to manage online sales inventory through a single common user interface. Logging in to the portal will facilitate the log-in to each participating platform. The functionality will allow consignors one location to facilitate a vehicle posted on multiple venues with competitive bidding across different channels. All online sales inventory will be visible in any online platform chosen by the consignor (along with condition reports) and the inventory will be managed from the central portal. This isn't blue sky technology; it is coming, either from the auction industry or a third-party technology company. It will represent a "sea change" in how vehicles are remarketed online in the wholesale market. ABOUT THE AUTHOR Mike Antich is the associate publisher and editor of Automotive Fleet Magazine. Parking, Traffc, & Toll Violations Processing, Payment, & Management Services • Revenue Sharing • Increased Collections • Decreased Cost • Brand Protection • Peace of Mind • Tolling Solutions CALL TODAY REGARDING OUR NEW TOLLING SOLUTIONS For more information on how you can receive these benefts, Contact Jason Tirrell: 406-721-5653 • jtirrell@violationmanagement.com Visit our website at www.violationmanagement.com AUTO R ENTAL N EWS January/February 2014 21

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