A global leasing organization faces several significant challenges for its extensive portfolio of agricultural and construction machinery in a South American country. During periodic inspections and at the end of a contract term, it became apparent that a significant number of financed machines had damage. In several cases, parts of the machines were even missing. Very often due to theft. An undesirable situation. On the one hand, because it creates additional costs for necessary repairs and replacements, and on the other hand it has a strong downward effect on the total value of the portfolio.
To gain insight into the condition and location of the leased machines, physical inspections are regularly carried out by independent inspectors. A solution that is very expensive due to the long travel distances. A solution that is also not waterproof. In practice, it turns out that only 1 out of 10 machines was subject of a physical inspection.
The Intrador Inspection App provides the desired outcome. Thanks to the user-friendliness of the app - to be installed on a smartphone or tablet, by any intermediary or end-user, who can easily and quickly take photos of the machine in a prescribed manner. Thanks to "Artificial Intelligence" technology, the machine is "recognized" and the authenticity of the data is validated. The collected data is made accessible with a central online management information system, which provides insight into the location and technical condition of the machinery at any time.
In addition to the digital inspection app, Intrador offers an addition to the online management information system by linking with MarketWatch. MarketWatch, also a solution developed by Intrador, provides access to all online data from advertised machines worldwide. This provides a realistic insight into the value development of machines (at model and usage level) and the demand for machines for sale (by country or continent).
This global leasing company started to work with Intrador in South America. Due to the good cooperation and success of the Inspection App, the roll out has taken place to more than 25 countries. Thanks to the use of the Inspection App and the link with MarketWatch, the lease organization realizes significant cost savings, has an up-to-date and reliable insight into the financed stock position, and has an up-to-date and accurate picture of the value development of its total lease portfolio worldwide.