“Unlocking hero status starts with performance measurement.”

While it’s not certain if that quote in a recent AutoIMS presentation also applies to superhero status (i.e. Superman’s vertical leap measured in tall-buildings-per-single-bound), a new Sales Scorecard program from the company aims to give the remarketing industry sharper (if not x-ray) vision.

Based on demand from the industry for a clearer picture on their wholesale performance, AutoIMS has developed a new Sales Scorecard that gives auctions and consignors a “common framework” to measure how they’re performing in auction sales, says Joe Miller, who is vice president of client experience at AutoIMS.

A small group has been beta-testing the scorecard, Miller said, and the company plans to roll it out to all AutoIMS administrator users on Monday (for no additional charge).

Miller presented an update on the Sales Scorecard at the International Automotive Remarketers Alliance’s 2019 Summer Roundtable in Chicago, and later caught up with Auto Remarketing by phone to explain some of the details.

The scorecard takes into account such metrics as conversion rates, average sale prices, performance with regards to floor price, averages on specific metrics of cars sold (mileage/model year), days to sell and days to complete condition reports.

Another slide in the company’s presentation shows how data, while important, can sometimes prove to be a complicated web of sources. The Sales Scorecard aims to simplify that data and put it in one place for easier decision-making.

The scorecard is also designed to be flexible in terms of how folks use it, Miller said.

It can be used to measure performance among specific auctions or groups of auctions, specific sale dates or a range of dates and portfolio subsets that can be carved out by the tool’s filters, he said.

The scorecard can also be viewed from a rating versus ranking perspective, Miller said.

For instance, as a rating tool, a consignor could use it to measure how their consignment fared at XYZ Auction. Meanwhile, as a ranking tool, the consignor could measure how their cars fared across all auctions in July, for example.

Further customization can also be arranged through AutoIMS. Additionally, AutoIMS will provide training sessions, answer questions and offer client support upon request.

In a news release, AutoIMS called the news “a big step forward” in IARA members’ efforts around finding “a common framework for remarketers to identify and use key metrics about their performance.”

In that release, Miller said: “This is a fantastic example of the power of the IARA and its Voice of the Consignor mantra. The thoughtful process and input collected along the way gave us ultimate confidence that building this new module would create a rich value-add for our member auctions and consignors alike.”

The scorecard has been developed with a focus group representing a wide swath of the remarketing industry, including:

— Layne Weber of Avis Budget Group
— Cynthia Meyer of Auction Management Solutions
— Neil Boardman of BB&T
— Miller at AutoIMS
— Scott Mousaw at United Auto Credit Corp.
— Brent Phillips of Element Fleet Management
— John Sullivan of GM Financial