Covisint Rounds Out Asset Control Toolkit

Maynards added to provide asset management services

Detroit  November 9, 2001  Covisint rounded out its asset management toolkit this week when it tapped liquidation specialist Maynards to provide asset recovery services for the auto industry e-marketplace's North American customers.

Covisint said in a statement that the addition of Maynards allows the e-marketplace to offer its customers an integrated set of tools and services for internal asset tracking, redeployment and external asset sales.

Maynards, operating from offices in the United States, Canada, Mexico and Japan, specializes in auctions, liquidation sales and appraisals of industrial equipment and commercial and retail inventories.

"The agreement with Maynards allows our customers to realize more value from the sale of their surplus assets," said Deepinder Singh, product manager for Covisint Asset Control.

The e-marketplace also said that, depending on its customers' future needs, it might investigate relationships with other providers to support additional services.

Covisint Asset Control, launched in September 2001, includes the asset recovery system, a source for internally identifying, categorizing, tracking, re-deploying and disposing of non-productive or excess assets and inventory that are generated in the normal course of running a business. This tool allows Covisint customers to track and share asset information internally for quick re-deployment.

In addition, the asset control toolkit includes a marketplace for the acquisition and disposal of assets, including through auctions and fixed price listings.

Covisint also provides such asset management services as onsite assessment or asset identification, appraisals, targeted marketing to buyers and disposal channel consulting. The e-marketplace will feature on-site auctions, warehousing, supervised tear-out and demolition and sourcing used equipment.

Maynards has managed surplus asset disposal programs for such companies as General Motors, Boeing, Weyerhauser and Tower Automotive.