SGS to Preview INSPEC Self-Inspection App at CAR Conference
Consumer-friendly app facilitates quick and easy self-inspection of leased vehicles
Cincinnati, March 6, 2018 – SGS, the world’s leading inspection, verification, testing and certification company, will preview INSPEC, its new self-inspection mobile application, at the Conference of Automotive Remarketing (CAR), March 6-7 at Caesars Palace in Las Vegas. CAR regularly attracts more than 500 remarketing, consignor and auction-industry professionals, and provides the latest information on new technologies, wholesale market conditions, industry standardization and more.
Attendees visiting SGS booth 24 will be able to see a demonstration of INSPEC, as well as talk to its team about how the app will make the lease-end process more efficient and consumer-friendly.
Some of the key benefits INSPEC provides to finance companies and fleet providers include:
• Reduced cost of inspection
• Increased percentage of fleet inspected
• Retention of key insights and actionable data
• Streamlined communication among leasing company, OEM/dealer and consumer (lessee)
• Improved consumer experience and satisfaction
“Our inspectors are performing full remarketing inspections prior to lease maturity when a third to half of these cars are either traded in early or bought outright prior to the turn-in date,” VP of Operations for SGS Tony Perkins noted. “This means our customers are wasting a lot of money on an expensive remarketing inspection that isn’t needed. By providing a more consumer-friendly inspection option, we believe INSPEC will help our customers drastically increase pre-term inspection rates, replacing the number of costly in-person inspections with an affordable alternative, all while lowering the overall cost of their program, improving the lease-end experience, and increasing brand loyalty.”
With INSPEC being offered as a pilot, hybrid or standalone solution, it can be integrated into the current consumer-communication process. As the vehicle lease nears its end, the lessee will receive an email with an access code to download INSPEC via the App Store or Google Play. The lessee then follows step-by-step instructions at a time of his or her choosing. With data being available throughout, from email-open rates and app-download data to completion rates, the process can be adjusted throughout to ensure optimal results.
The app allows the user to take photos of the exterior, interior and tires to note any damage or level of wear and use. The lessee and finance company then receive a summary of self-inspection results, along with an estimated range for how much might be owed at turn-in. Estimates are calculated based on a proprietary algorithm from SGS. The entire inspection can be completed in less than 20 minutes.
INSPEC allows the capture of specific data, including mileage and vehicle modifications, giving the finance company, dealer or OEM a clear understanding of the vehicle’s current condition ahead of vehicle turn-in. This data can be leveraged for anything from improving marketing efforts to targeting buy-back offers.
“Digitalization efforts and the increasing amounts of available data are at the center of every part of the automotive industry right now, and we want to make sure that the lease-end process isn’t left out of that conversation,” Perkins explained. “After countless years using the same process, we think this move is long overdue. We are proud to be leveraging technology to lead the way to a better, more efficient lease-end process for both our customers and the lessee.”
For more information on INSPEC, the new self-inspection mobile application powered by SGS, email firstname.lastname@example.org or call 844-730-4175. For general information on SGS, visit www.sgs.com/automotive.
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 95,000 employees, SGS operates a network of over 2,400 offices and laboratories around the world.