Press Release
KAR Auction Services Receives 2015 Digital Edge 25 Award
Published January 15, 2015 - Written by KAR Auction Services
CARMEL, Ind., January 13, 2015—KAR Auction Services, Inc. (NYSE: KAR), announced today that it has been named as a 2015 Digital Edge 25 honoree, produced by IDG Enterprise media brands CIO and Computerworld and the CIO Executive Council. This prestigious honor recognizes organizations that have leveraged digital technologies to transform their business. KAR Auction Services will be honored at the AGENDA 15 Conference, March 31–April 1, 2015, in Florida.
“It is an honor to receive the Digital Edge 25 award as it reflects KAR’s core value of innovation,” said KAR CEO Jim Hallett. “It also recognizes our dedication to collaborate within our group of companies to invest in technology that ultimately benefits our customers’ experience. During the past 24 months, business stakeholders and IT professionals representing our two complementary go-to-market auction business units, ADESA and Insurance Auto Auctions, worked together to address the need for improving vehicle representation. We now offer more vehicle images, with greater detail, and pan and zoom capabilities. In fact, today approximately 750,000 vehicle photos are taken each week in all weather conditions and made available to potential buyers. Given this vast amount of data, KAR has leveraged cloud technologies to enable more efficient image management and distribution.”
The Digital Edge 25 awards honor enterprises that have leveraged digital technologies such as social, mobile, analytics and cloud to achieve highly significant transformation or innovation for their business to give them a competitive “digital edge.” The award focuses on the cross-functional business leadership that drives success in the digital business environment, as every business leader must have a strategic digital vision and focus. Selected by a panel of industry experts and business executives, winning applications are driving greater customer engagement, higher sales conversions and new product delivery mechanisms, as well as revenue and profit growth.
“The Digital Edge 25 awards competition was extremely competitive, with many nominations demonstrating enormous business value from mobile, data analytics and other digital innovations,” said Anne McCrory, vice president of marketing and content strategy for the IDG Enterprise events team and a conference chair. “Those selected by our judges stood apart for executing initiatives that, for example, drove much greater customer engagement, higher sales conversions and even new lines of business.”
About KAR Auction Services KAR Auction Services, Inc. (NYSE: KAR), a FORTUNE® 1000 company, operates used vehicle auction services for North American sellers and buyers worldwide. Based in Carmel, Ind., the KAR group of companies is comprised of ADESA, Inc. (ADESA), Insurance Auto Auctions, Inc. (IAA), Automotive Finance Corporation (AFC), and additional business units, with nearly 12,000 employees across the globe. ADESA operates 65 wholesale used vehicle auctions and IAA has 166 salvage vehicle auctions. Both companies offer leading online auction platforms to provide greater access for customers. AFC provides inventory financing and comprehensive business services primarily to independent used vehicle dealers from its 111 locations. Together, KAR’s complementary businesses provide support, technology and logistics for the used vehicle industry. For more information, visit karauctionservices.com.
About IDG Enterprise IDG Enterprise, an International Data Group (IDG) company, brings together the leading editorial brands (CIO, Computerworld, CSO, InfoWorld, ITworld and Network World) to serve the information needs of our technology and security-focused audiences. As the premier high-tech B2B media, data and services company, we leverage the strengths of our premium owned and operated brands, while simultaneously harnessing their collective reach and audience affinity. We provide market leadership and converged marketing solutions for our customers to engage IT and security decision-makers across our portfolio of award-winning websites, events, magazines, products and services. IDG’s DEMO conferences provide a platform for today’s most innovative and eye-opening technologies to publically launch their solutions.
About CIO Executive Council The CIO Executive Council, now in its 10th year, is not only a global peer advisory community offering leadership services to the office of the CIO, but a tireless public advocate for this great profession. Through numerous programs tackling the inherent challenges IT professionals are all faced with, the Council has made a tremendous impact to practitioners, aspiring leaders and their organizations. Most recently the CIO Executive Council’s widely recognized Journey to the Future-State CIO and digital C-Suite work has raised the eye brows of CEOs in an effort to better position you and align you with expectations.
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About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle while also delivering industry-leading economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and bidding tools, enhancing the overall purchasing experience.
Forward-Looking Statements
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding our expectations as an independent company and our ability to enhance our competitive position and drive long-term value for shareholders. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include: fluctuations in consumer demand for and in the supply of damaged and total loss vehicles and the resulting impact on auction sales volumes; our ability to meet or exceed customers’ expectations, as well as develop and implement information systems responsive to customer needs; significant current competition and the introduction of new competitors; competitive pricing pressures; the ability of consumers to lease or finance the purchase of new and/or used vehicles; our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems and to implement and maintain measures to protect against cyberattacks; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; trends in the vehicle remarketing industry; changes in the volume of vehicle production, including capacity reductions at the major original equipment manufacturers; changes in the market value of vehicles auctioned, including changes in the actual cash value of damaged and total loss vehicles; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; general economic conditions; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our information statement filed as Exhibit 99.1 to our Registration Statement on Form 10 filed with the SEC on June 13, 2019. Additional information regarding risks and uncertainties will also be contained in subsequent quarterly and annual reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward looking statement to reflect new information or events, except as required by law.
