Phone and webchat feature allows every discussion to be recorded in the cloud
Most part-exchange vehicles are underwritten or sold to traders who buy and sell on the vehicle. This process usually involves a phone conversation between the trader and the dealer who verbally describes the vehicle. This can lead to issues with inaccurate descriptions and renegotiations on the price “agreed” over the phone.
“The Appraisee phone and webchat feature allows every discussion to be recorded in the cloud, where it is accessible [but unable to be edited] for future reference.” Appraisee (short for “appraise easy”) is integrated with major vehicle history in Ireland and the UK.
Murphy came up with the idea for Appraisee having worked on a five-year project with Hertz Rent a Car in Ireland. “We then started looking at industries where outdated paper processes were hampering efficiency and leading to lost profits, and the car-buying cycle turned out to be an exact fit for our skill set and industry knowledge,” he says.
“There are a small number of competitors who match us in using photos and videos to capture the condition of a vehicle, but we are unmatched when it comes to the data we have available.”
Appraisee, which employs five people, was launched in April of this year. Investment to date has been more than ¤100,000 and self-funded. The company is now revenue-generating and has recently signed an agreement with the Society of the Irish Motor Industry to sell the system to the society’s 350 members. It is also currently trialling the product with a large Australian motor group.
Appraisee is based at the business innovation centre in NUI Galway and has recently participated in the NDRC’s Lauchpad accelerator programme at the PorterShed in Galway.
Users of the product will pay ¤99 per month for a primary outlet and ¤75 per month for additional outlets. There will be one free user subscription with each package and additional users will be charged ¤25 a head.
The company is now looking to raise ¤850,00 to fund its drive in the UK and Australian markets.
Colm Murphy, founder of Appraisee