Manheim aims to speed up defleet process
20 November 2013
Author: Tristan Young
Manheim, the UK's second largest auction company, is working to reduce the time taken for fleets to dispose of their vehicles.
It hopes that reducing disposal times will improve resale values and also reduce funding costs.
The firm has been investing in technology for both buyers and sellers as well as purchasing additional companies in order to offer a complete range of remarketing services.
The extra investment has paid off in an increase in the number of cars sold through Manheim, according to chief operating officer Mike Buxton.
"We will pass the 400,000 mark this year, up from 330,000 in 2012," said Buxton. "We have grown our core business, but we also bought the trade-to-trade online business Dealer Auction, which added 40,000 units."
BCA, the UK's largest auction firm, sold around 600,000 vehicles last year and expects to hit the one million mark in three years' time.
In order to reduce disposal times, Manheim is pushing its inventory management systems called RMS.
While RMS was first launched in 2007, it has been upgraded and integrated with other systems from the US side of the business and now allows access to all of Manheim's sales channels from one place.
Meanwhile, the firm has also upgraded its Simulcast system, which broadcasts physical and online auctions, to be remotely 'attended' by sellers so that they can approve any sales that are near the reserve price.
Manheim has found that if a seller is present at an auction, even in virtual form, buyers are more willing to bid.