Max­imis­ing profit on car trade-ins

New sys­tem gives sales staff ac­cess to ve­hi­cle’s his­tory and vi­tal sta­tis­tics

The Irish Times - - Business Innovation - Olive Keogh

Ap­praisee is a new soft­ware tool aimed at speed­ing up and sim­pli­fy­ing how car deal­ers eval­u­ate trade-ins. At present, ap­praisals are largely pa­per-based and this can cre­ate is­sues around ac­count­abil­ity and trace­abil­ity.

Ap­praisee dig­i­tally con­nects and in­te­grates all el­e­ments of the sales cy­cle, in­clud­ing ne­go­ti­a­tions on price, to en­sure an ac­cu­rate record of the process from start to fin­ish.

“Ap­praisee pro­vides im­me­di­ate ac­cess to all the key data points about a ve­hi­cle and en­sures the sales­per­son can iden­tify the mar­gin po­ten­tial be­fore a price is agreed on,” says founder Colm Mur­phy.

“With re­tail­ers mak­ing ap­prox­i­mately 1.5 per cent net mar­gin on a new car sale, max­imis­ing prof­its on part-ex­changes is crit­i­cal to a busi­ness’s prof­itabil­ity. Un­der­valu­ing and mis­cal­cu­lat­ing the con­di­tion of the ve­hi­cle at the ap­praisal stage can be the dif­fer­ence be­tween a profit or a loss for the dealer.”

The main mar­kets for the sofware as a ser­vice prod­uct are fran­chised and in­de­pen­dent deal­er­ships and car man­u­fac­tur­ers. Mur­phy set up the com­pany in Oc­to­ber 2016 and comes from a back­ground in fi­nan­cial ser­vices soft­ware. Over the years his cus­tomers have in­cluded Volk­swa­gen Bank, the GAA and French multi­na­tional St Gobain.

Mur­phy says Ap­praisee’s prod­uct gives sales staff in­stant ac­cess to a ve­hi­cle’s his­tory and vi­tal sta­tis­tics from any­where at any time on any com­puter or mo­bile de­vice.

“We didn’t want cus­tomers to have to pay for hard­ware to run the sys­tem so that was a key con­sid­er­a­tion dur­ing de­vel­op­ment, as was cre­at­ing a re­ally sim­ple and easy user in­ter­face,” he says. “Most ex­ist­ing sys­tems on the mar­ket are UX and fea­ture poor.

“Hav­ing in­stant ac­cess to past ap­praisals and know­ing what prices were quoted also frees up sig­nif­i­cant time for the sales teams,” Mur­phy adds. “In ad­di­tion, man­age­ment can use the sys­tem to delve into ap­praisal data and sales team per­for­mances.

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