A Look ‘Back to the Future’ with OPENLANE

Remember back to 1999 when we sang along to “Smooth” by Santana and Rob Thomas on our Sony Discman, mailed a hand-written letter for only 33 cents, watched “Star Wars Episode One: The Phantom Menace” in the movie theatre, and yes, we thought “It’s the End of the World as we Know It” because of the Y2K computer bug?

Well, the world has changed vastly and the twenty-first century has proven to be the backdrop for a remarkable digital transformation, especially in the automotive industry.

Two decades ago, OPENLANE, a business unit of KAR Auction Services, Inc. (NYSE: KAR), was founded with the purpose to improve the wholesale automotive auction experience through digital technology. Twenty years later the company has done that and much, much more. OPENLANE’s platform has undoubtedly disrupted the remarketing industry and forever transformed the way dealers sell and buy vehicles.

Our operations and sales teams supported by terrific engineers, designers and other innovators continue to transform the remarketing industry with industry-leading capabilities that help customers monetize vehicles faster, easier and smarter than ever before. Our combined data science and artificial intelligence efforts are streamling and simplifing the upstream experience.

OPENLANE’s smart-technology is seen in our recently designed OPENLANE IQ platform, developed with a scaled, agile framework using state-of-the-art processes by any industries’ standards. The new platform is built on a responsive interface incorporating the best practices of e-commerce leaders. It allows for advanced capabilities such as digital signature capture, lessee and/or dealership self-inspection, integrated vehicle transportation capabilities and open auction integration with TradeRev and ADESA.com.

Our extraordinary team is committed to customer success and to creating tools and technology to help customers succeed, whether that be a global export option, online bidding improvements or custom recommendations, OPENLANE has the proven track record of delivering results.

But we’re not just building the most advanced, integrated and data-driven technology in the industry. We’re building quality customer connections. Connecting dealers to inventory and seamlessly connecting every car, every customer, and every dealer – every step of the way.

OPENLANE’s foundation built on dedication, passion, and dexterity will take us into the future with many more innovations. I look forward to looking back in another twenty years to see the progression of the OPENLANE platform and the transformation it inspires in the auto remarketing industry.

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