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Thoughtworks Selected by Ritchie Bros. to Accelerate Digital Transformation
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Rhea-AI Summary
Thoughtworks has announced a multi-year partnership with Ritchie Bros, aiming to enhance Ritchie Bros' digital transformation and marketplace services. This collaboration will leverage Thoughtworks' expertise in technology and digital solutions to help Ritchie Bros modernize its operations and develop a seamless digital marketplace for commercial assets. The initiative aligns with industry trends of rapidly evolving customer needs, focusing on enhancing customer experiences and driving growth.
Positive
Partnership with Ritchie Bros to enhance digital transformation.
Focus on creating a seamless digital marketplace for commercial assets.
Utilization of Thoughtworks' extensive experience in technology and business strategy.
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Thoughtworks to build digital technology platform to empower Ritchie Bros. to more rapidly unleash business value, scale and growth
CHICAGO & VANCOUVER, British Columbia--(BUSINESS WIRE)--
Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today announced that Ritchie Bros., a global asset management and disposition company, signed a multi-year agreement with Thoughtworks to accelerate its modernization and digitization journey as it accelerates its transition to a global trusted marketplace for insights, services and transaction solutions for commercial assets.
“The industrial equipment industry is changing rapidly and Ritchie Bros, as a global market leader, is embarking on an accelerated journey to transform the company’s business through technology,” said Baron Concors, chief information officer, Ritchie Bros. “I’m very excited about partnering with Thoughtworks to deliver our vision of a modern, digital marketplace that is seamless for our customers, employees and partners.”
Ritchie Bros. has a clear vision to implement a modern architecture to help drive business growth and scale and is embarking on a rapid test-driven development approach that is agile enough to support its future development and new business models. Together, the Thoughtworks and Ritchie Bros.’ engineering teams will design and build the capabilities that will speed development of Ritchie Bros.’ digital marketplace ecosystem using software-development life-cycle best practices, methodologies, processes, CI/CD tools and documentation.
“In today’s digital era, it is crucial for businesses to adapt to customers’ evolving preferences and needs. For Ritchie Bros., this means offering a seamless experience when transitioning between digital channels and auctions to make it as simple and easy as possible for customers,” said Chris Murphy, chief executive officer, Thoughtworks North America. “We’re extremely pleased to bring Thoughtworks’ 28+ years of experience in applying lean and agile design thinking, technology and business strategy to Ritchie Bros.’ digital marketplace, powered by a human-centered customer experience.”
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About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company’s suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers’ management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.
About Thoughtworks Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are 10,000+ people strong across 49 offices in 17 countries. Over the last 25+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.
What is the partnership between Thoughtworks and Ritchie Bros?
Thoughtworks has signed a multi-year agreement with Ritchie Bros to enhance its digital transformation and develop a modern digital marketplace for commercial assets.
How will the Thoughtworks and Ritchie Bros partnership affect TWKS and RBA stocks?
The partnership aims to drive modernization and growth for Ritchie Bros, which may positively impact its stock performance; however, the specific effects on TWKS and RBA stocks depend on execution and market reception.
What are the goals of the Thoughtworks and Ritchie Bros collaboration?
The collaboration focuses on accelerating Ritchie Bros' modernization efforts, enhancing customer experience, and implementing a seamless digital marketplace.
When was the partnership between Thoughtworks and Ritchie Bros announced?
The partnership was announced in a press release on February 15, 2022.
