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DDI Technology Expands into Wisconsin Electronic Vehicle Title and Registration Market
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
IAA, Inc. announces DDI Technology's expansion of its Premier EVR™ electronic title and registration services to Wisconsin, making it one of only two certified EVTR providers in the state. This development allows Wisconsin dealers to submit vehicle registrations and title applications online, enhancing efficiency and customer satisfaction. The system includes features such as seamless integration with dealer management systems and the ability to handle out-of-state registrations without extra fees. This expansion marks a significant milestone in DDI's efforts to streamline vehicle registration processes.
Positive
Expansion of electronic title and registration services into Wisconsin increases market presence.
DDI becomes one of only two approved EVR service providers in Wisconsin, enhancing credibility.
Premier EVR™ allows for improved efficiency and customer satisfaction for Wisconsin dealers.
No monthly contracts or startup fees for dealers provide a cost-effective solution.
Negative
None.
DDI’s Premier EVR™ provides seamless integration between dealers’ DMS software and state DMVs
WESTCHESTER, Ill.--(BUSINESS WIRE)--
DDI Technology (“DDI”) a leading electronic lien and title technology firm and a subsidiary of IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces the expansion of its electronic title and registration product offering into the state of Wisconsin as a certified EVTR (Electronic Vehicle Title & Registration) provider to the Wisconsin Division of Motor Vehicles (WisDOT). As one of only two EVR service providers to be approved for the new Wisconsin APPS (Automated Processing Partnership System), this expansion makes Wisconsin the sixth state to offer DDI Technology’s Premier EVR™ services.
“We are very excited to bring our user-friendly electronic registration system to Wisconsin, providing full Dealer Management System integration that will save finance managers time and increase Customer Satisfaction Index scores,” said Todd Phillips, Director of Sales for DDI Technology. “Our high level of customer service, including live online chat, will give dealers the answers and support they need faster and more efficiently. In addition, our out-of-state registration and quote program will ensure every transaction can be handled within a single system for finance and title clerks alike.”
Through Premier EVR, DDI will provide a secure, web-based software system for Wisconsin dealers and fleet managers to electronically submit vehicle registrations and title applications, along with tag and title transaction fees, directly to the WisDOT, thereby eliminating trips to the DMV for their customers. Premier EVR also allows dealers to access real-time current title, vehicle and owner data and provides quotes for taxes and registration to owners.
“DDI’s expansion into Wisconsin through the EVTR market marks another major milestone in our quest to streamline the titling and registration process for our customers,” said Tab Edmundson, IAA’s Vice President of Client Solutions and DDI President. “Putting the power of DDI’s technology in their hands will reduce transaction times and provide seamless integration with WisDOT.”
DDI Technology’s Premier EVR™ product includes:
APPS compliance
Seamless DMS integration
Out-of-state registrations and titling
Multiple support channels
Provides dealers with a cost-effective, transaction-based solution by not requiring monthly contracts or startup fees
About IAA
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base – located throughout over 170 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns. For more information visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn. For more information on DDI visit DDITechnology.com, and follow DDI on Facebook, Twitter, and LinkedIn.
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 and which are subject to certain risks, trends and uncertainties. In particular, statements made in this release that are not historical facts may be forward-looking statements. Words such as "should," "may," "will," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions identify forward- looking statements. In this release, such forward-looking statements include statements regarding the expected timing and associated benefits with respect to the expansion of DDI Technology into the Wisconsin electronic vehicle title and registration market, and the products and platforms described in this release, on our business and plans regarding our growth strategies and margin expansion plan, and to our customers and company generally. Such statements include statements regarding the impact of COVID-19 on our business; our future growth; expectations regarding vehicle volume sales, results of operations and capital expenditures; and our continued investment in information technology. 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, but are not limited to: uncertainties regarding ongoing surges of COVID-19 infections, including new more contagious and/or vaccine resistant variants, and the impact on the duration and severity of the COVID-19 pandemic and measures intended to reduce its spread, including the availability, rate of public acceptance and efficacy of COVID-19 vaccines; the loss of one or more significant vehicle suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and 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; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion plan; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under Item 1A “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on February 22, 2021, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC, including subsequent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Many of these risk factors are outside of our control, and as such, they involve risks which are not currently known that could cause actual results to differ materially from those discussed or implied herein. The forward-looking statements in this release are made as of the date on which they are made and we do not undertake to update our forward-looking statements.
