As we celebrate the past 20 years at OPENLANE, I’d like to turn our focus to what’s undoubtedly an exciting future for the company.
The technology on our OPENLANE platform has advanced immeasurably in just a short time. We’re using the latest technology advances and software innovations to provide our customers with the most streamlined, user-friendly experience in automotive remarketing.
Behind the scenes, one of the most exciting changes recently was implementing microservices. Microservices is a software architecture that allows several applications to interact with each other simultaneously across multiple servers or hosts. Simply put, microservices – used by tech giants such as Amazon, Netflix and Google – centralizes every feature on our website.
Center stage and very visible to users is a fresh, responsive design layout on many of our ADESA.com and ADESA.ca webpages, like Watch List and the Vehicle Details Page. And coming soon, users will see updates to our Sale Schedule, Run List and post-login Landing Page.
We’ve also significantly improved our dealer’s vehicle search experience. Our next-generation natural language search capability now returns thousands of vehicle results in less than one second. The load times on the subsequent search results pages have reduced to a few seconds.
Instead of the restrictive and cumbersome filter-based search for each desired vehicle, customers can now type a few words into a new, natural-language based search bar to gain better results. Entering the search criteria via natural language is more efficient and creates a dramatically improved user experience.
We’ve also modernized the buying journey for dealers by offering new software with a responsive design layout, meaning the website renders well on any device: desktop, laptop, or smartphone.
Another exciting upgrade we’re implementing for users of our OPENLANE IQ platform is the ability to provide customers with specific vehicle purchase recommendations. The recommendations are powered by DRIVIN, OPENLANE’s sister company, and are derived from a proprietary algorithm that looks at a dealer’s past buying history, along with consumer buying trends in their local and regional market. A new recommendations carousel has just been launched on our ADESA.com site and features vehicles selected in real-time to meet a dealer’s specific inventory needs.
These recommendations also incorporate the use of badges, which explain the value opportunity we’ve found for the dealer. There are several badges, including good value, fast mover, low lot supply, etc.
Our digital transformation is leading an industry evolution by anticipating the needs of our sellers and buyers.
If the next 20 years is anything like the past 20 at OPENLANE – we’re in store for an exciting future.