e-diig – Motors-Presentation-Reliance

8/14/2019 e-diig Motors-Presentation-Reliance

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Selling Process Re-Organized to Latest

Trends & Requirements inAutomobile Segment for
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IDENTIFICATION

Feet on street activity / Telemarketing activity / Dealer Seminars / Dealer Associations meetings / Mechanic shop tie-ups

Existing dealer references / Print advertisements

PRE-QUALIFICATIONPrequalify dealers thru FOS & Telemarketing, based on the interest and availability of the KYC documents.

Collect KYC documents from the prequalified dealers & verify their authenticity for Clearance.

REGISTRATION

Registration is free of cost for dealers

Verified dealers are registered in our website www.ediig.in

During registration a user id and password would be created for Future Usage

TRAINING

An extensive training is given in local language or dealer understandable language on the complete auction process of eDiig.

During the training, dealers are made to understand the process on checking the auction calendar for vehicle listings & date

of auction

Dealers are also trained to login into the site themselves, enter their username & password, and go to the auction bidding

page and bid by themselves.

Training is also provided on using the auto bid feature & printing the bidding activity sheet.

ACTIVATIONDealers are handhold to participate in their first live auction, giving them all possible help to make him do the first bid.

A dealer is taken as activated, if he has put the first bid.

CONTINUITY Follow up is done with new dealers to do repeat bidding.
http://www.ediig.in/http://www.ediig.in/


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RCF 10 RCF will Release the Transaction Fee to eDiig EDIIG

SOURCE PROCESS STEP DESTINATION

RCF 1 RCF Provides List to eDiig EDIIG

EDIIG 2 eDiig Circulates the list to Dealers DEALER

RCF 3 Dealer Inspects the Vehicles at Godown DEALER

EDIIG 4 eDiig Conducts Online Auction DEALER

DEALER 5 Dealers Bid in eDiig Online Auction EDIIGEDIIG 6 eDiig Sends the Auction Completion Report to RCF RCF

DEALER 7 Dealers make the payment to the RCF RCF

RCF 8 RCF Releases Vehicles to the Dealers post Payment DEALER

EDIIG 9 eDiig will Raise an Invoice for the Sold Vehicles RCF


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RCF Gives List toeDiig

eDiig will Intimate

the Dealers aboutthe Auction bySMS / E-Mail / Etc

Dealers to Collect

the inspectionletters from RCF

Dealers will inspectthe vehicles in

Godown

eDiig will collectfeedback about the

vehicles and themarket trend

Feedback is sent toRCF Pre Auction to

recommend anychanges

Based on Feedbackprovided by eDiig

RCF can re-consider any Prices

Final Confirmationof Prices is taken

from RCFAuction to be LIVE


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Auction LIVE

Dealers Get a FinalReminder

eDiig Will Monitor

the Start of Bids inthe Auction

Dealers are given

required assistance, but they have toBID on their own

eDiig will check forany Wrong Bids

eDiig will also crosscheck with the

Dealers on theiractivity

eDiig will EDIT any

Wrong BIDS, but

will confirm with

RCF before that

On Completion ofthe auction, eDiigdoes a final check

on the Winners

Auction ReportSent to RCF

Dealers are alsointimated on the

vehicles they WON


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eDiig Intimates the

Buyers to start thepayments

Buyers will make

the payments toRCF based on

auction report

eDiig will follow-up

regularly with theDealers forpayments

If any Dealer is notpaying for an AsseteDiig de-activates

their IDs

eDiig will thencheck with 2nd or3rd Bidder afterconfirming with

RCF

RCF will release

the vehicles after

the Dealer makes

the payments

RCF needs toinform the Dealersabout the status of

NOC, RCs,documents, etc

eDiig will thenprovide the

necessary MIS &post auction

review

eDiig will Crosscheck with the

Client on the finaloutcome after 48

hours post auction


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Payment follow up and ensuring fulfillment is a very important part in auction process.

In eDiig, we have an effective and efficient post auction payment follow up system to ensure dealers payments

Detailed auctioncompletion report is

sent to RCF

Winner Gets Intimationthru SMS / Tele on No

of Vehicles Won +Amount & Branch

Contact Person

Dealers have aTimeframe of 48 hoursto make the payments

Dealers can also get thelist of vehicles won

from their My BiddingPage

Dealers get a reminderSMS & Call next day formaking the payments

eDiig takes thepayment details made

from the Dealers toTrack MIS

After 48 hours IDs ofDealers who have not

made the payment willbe temporarily de-

activated

Day-3 SMS is sent toDealers who have notmade the payments

about de-activation oftheir ids

For genuine reasons indelay in payment,

dealers are given timetill the end of 3rd Day

Final status is reviewedon the 4th day and a

call is given to dealersto get update on their

payment status

On 5th day, defaultingdealers are deactivated& 2nd or 3rd bidders areasked to complete the

transaction

Day 6 - Final statusreport on fulfillment is

sent to the client forconfirmation

In total, a minimum of 2 days and a maximum of 6 days is required to complete a transaction and also dealers

are called upto 5 times and SMS is sent upto 3 times to get payment updates on their transactions


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There are around 300 vehicle models which are available in used market from 35 different manufacturers

Out of the 300 models only around 60 models are fast moving, the remaining 240 are slow moving/non

moving.

Most of the clients are stuck up with these slow moving stocks as used vehicle inventory.

We would do a model wise analysis on the following points for every model

1) Resale Value

2) Markets where the models are strong/more demand3) Find out Locations of New vehicle franchises, authorized sales point, authorized service point,

authorized used vehicle dealers & company trained mechanics.

4) Prices at which the vehicles, were sold & the present price.

Based on the analysis, we can formulate the model wise strategy for selling

Tactical Dealer development plan, register as dealers, all the authorized sales, service & mechanics of the

particular brand to participate in the auction. They would pay more for the vehicles than others Invite dealers to auctions from markets where the particular brand has demand/resale value

Tie-up with vehicle manufacturers, where they would give service support for their models, to enhance

market demand and higher resale value.

Tie up with major insurance companies to provide duplicate invoices for the vehicles sold in auctions.


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Strategy for selling, where vehicles are unregistered or do not have RC

1) Formulate a four way tieup between eDiig, new vehicle manufacturer, Vehicle financier & new

vehicle manufacturer franchises.

2) Through our Government affairs & engagement program, we can organize a tie-up with RTOs to

issue duplicate RCs / fresh RC at a speedy pace.

3) Can formulate an arrangement with vehicle financiers, to get the original RCs from original

customers.

Arrange for inventory / stock funding for slow / non moving brands, by organizing tie-ups with NBFCs /

Private Financiers, based on dealers track record/capability

Bundling fast moving models with slow moving models. The pull generated by the fast moving model,

will automatically push in the slow moving models.

Run a buyer incentive scheme for buyers of slow moving / No RC / Unregistered vehicles

Conduct Open auctions, by inviting everyone thru paper advertisement, thereby trying to sell the slowmoving stock thru B2C model.

By combining the above points, we can formulate a robust selling strategy for slow moving vehicles


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eDiig Business Adjacencies

eDiig has also stepped into by-products of Motors, which would spiral the growth of the motors business as a whole.

General Insurance eDiig tied-up as a corporate agent with Royal Sundaram Insurance, for providing motor vehicle

insurance to our dealers. Usually, when dealers sell their vehicles to individuals or end users they insure it and they sell it.

Dealers get a margin of anywhere between 5% to 15% as insurance commission, from their existing setup. When they takeinsurance thru eDiig, they would get a minimum of 20% and a maximum of 25%. We would pass on 90% of our incentives to

dealers, to help them earn more out of a vehicle business transaction and also make them repeat buyers in our site.

Inventory Funding/Business Loans - eDiig started the process of tying up with leading financial institutions for arranging

inventory funding/business loans to dealers, based on the track and potential. This would ensure in prompt payments in

auctions, good price appreciation & high sell thru.

Auto Classifieds Developing our B2C auto classifieds called eDiig Motors. This classified site would allow dealers to create

their virtual showroom to showcase and sell their vehicles to the end-users in different locations. The site would give the

dealer a sense of owning a online showroom.

Valuations - Provide comprehensive valuation services to our dealer network. Thereby giving them the comfort of selling

their vehicles at consumer prices with an authorized valuation back up. Valuations can be provided both onsite and offsite.

Motors

Insurance

InventoryFunding

Valuations

AutoClassifieds


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Client 2W 3W 4W CV FE CE Total

ICICI Bank 1000 600 200 500 50 100 2450

TVS Finance Ltd 5000 0 0 0 0 0 5000

Bajaj Auto Finance Ltd 5000 2500 0 0 0 0 7500

Mahindra Finance 0 850 750 600 1000 0 3200

Chola DBS 0 500 250 250 0 0 1000Shriram Finance 1000 600 125 250 100 0 2075

Indusind Bank 500 800 50 250 0 200 1800

Other Clients 500 500 50 250 50 0 1350

Total 13000 6350 1425 2100 1200 300 24375


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Total no of vehicles listed for auctions - 24375 vehicles

Total no of vehicles sold in auctions - 18280 vehicles

Total conversion rate in auctions - 75%

Total Price appreciation over base price in auctions 12%

Total gross merchandise Volume in auctions 62.5 Crores

Total net conversion in terms of value in auctions 53.1 Crores i.e. 85%

Total net conversion in terms of vehicles sold in auctions - 16450 i.e. 90%

Region Total

North Zone 2200East + Central Zones 2000

Western Zone 1800

South Zone 2000

Overall Strength 8000

eDiig.in has conductedauctions for over 450locations across India


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Documents

e-diig – Motors-Presentation-Reliance