One of the presenting sponsors of Used Car Week 2018 — Digital Recognition Network — recently set a new company record.
The artificial intelligence and data analytics company that provides vehicle location data and analytics to finance companies, insurance carriers and other commercial verticals, recently announced the company has reached a key milestone, facilitating the recovery of 20,122 live vehicle pickups. The figure enabled by license plate recognition (LPR) established an all-time company high for a given month arrived in August.
“We are very proud that we have reached this critical milestone,” said Todd Hodnett, executive chairman and founder of DRN. “We’ve worked hard to populate the ‘hotlist’, but reaching this milestone would not be possible without the strength of our provider network and its fantastic relationships with our dedicated camera affiliates.
“We remain grateful to our affiliates — the hardworking men and women in the field — who conduct recoveries and often do so under dangerous circumstances,” Hodnett continued.
In recent years, DRN indicated the number of LPR-enabled vehicle pick-ups generated by the ‘hotlist’ has grown substantially year-over-year. In 2017, DRN had nearly 90 percent more live LPR-enabled vehicle pick-ups than in 2016, and the company is on pace to achieve at least that in 2018.
DRN highlighted that it is on track to pay its affiliate network approximately $6 million in revenue share by the end of the 2018 — a company record — with its largest revenue share payout occurring in August, totaling $534,524.
“We will continue to generate the strongest ‘hotlist’ in the market to create opportunity for our affiliate network,” Hodnett said. “In fact, while others in the industry are looking to strip revenue streams away from repossession agents, DRN is committed to a goal of $10 million in 2019 for revenue share payments to our affiliate network.
“We appreciate our affiliates and take great pride in our relationships with them. They are the heart of DRN’s business, and we are grateful for their work every day,” he went on to say.
DRN will make multiple appearances on stage during Used Car Week 2018, which begins on Nov. 12 in Scottsdale, Ariz. There is still time to join leading industry executives and experts for learning, networking and more by going to www.usedcarweek.biz and registering now.