Asset lifecycle management software highlights under-utilized
and surplus assets in an industrial supply chain and connects
enterprises with used equipment buyers across 70 countries,
ensuring compliance with financial and ESG
mandates
SAN
FRANCISCO, Aug. 1, 2024 /CNW/ -- Aucto, a leading
marketplace for pre-owned industrial assets, today announced the
public launch of ARS, the first end-to-end asset lifecycle
management platform. The new product offering uses AI-powered
datasets to increase asset visibility, leading to reduced
procurement spend and supply chain waste.
Businesses in capital-intensive verticals such as manufacturing
or energy spend billions of dollars each year on machinery,
equipment, and spare parts. Industry experts estimate that
approximately 10-20% of these assets are surplus at any given time
due to over-procurement, upgrades, and project cancellations. ARS
is designed to give businesses the ability to identify, manage, and
ultimately resell surplus assets to qualified buyers on a global
marketplace.
ARS was soft-launched in March
2024 and already counts dozens of manufacturers and energy
companies as customers. The platform has generated over
$3 million in capital recovery for
its customers in the last three months.
Jamil Rahman, Founder and CEO of
Aucto, who announced the launch of the new product in a recent
blog post, states, "Businesses want to do more to reduce the
waste generated by their manufacturing and supply chain operations.
Today, thousands of tons of machinery, equipment, and parts end up
in scrapyards and landfills because it's impossible for businesses
to manage these assets without the right technology and software.
We believe ARS is a big step towards solving this problem."
According to Rahman, the main objective of building ARS was to
digitize and streamline all of the activities and workflows
associated with asset lifecycle management. "Since we're a
digitally native solution, we can complete the same tasks as
offline vendors at a fraction of the cost and in real time by
leveraging technology, rather than industry expertise." An example
of this is the asset valuation tool built into ARS, which gives
businesses an estimated selling price on each asset managed in the
platform. Historically, businesses would have to source valuations
through a machinery appraiser, which could cost tens of thousands
of dollars and take weeks to complete.
The cost of the software platform is based on a subscription
model, with multiple tiers available based on business needs and
the number of facilities enrolling in the program.
About Aucto
Aucto is a leading industrial marketplace focused on helping
businesses find better outcomes for under-utilized and surplus
industrial assets. The platform is used by leading manufacturers to
rescue supply chain waste and maximize the value of their assets
through effective asset lifecycle management and asset resale
programs. For more information, visit Aucto.
Media Contact:
Fiona
Chan
Director, Marketing
fiona@aucto.com
415-294-0482
www.aucto.com
Release originally appeared on
https://www.arspro.com/updates/aucto-launches-ars-enterprise-software-bringing-the-industrial-circular-economy-to-the-manufacturing-sector
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SOURCE Aucto