3. IDENTIFICATION
Feet on street activity / Telemarketing activity / Dealer Seminars / Dealer Association’s meetings / Mechanic shop tie-ups
Existing dealer references / Print advertisements
PRE-QUALIFICATION
Prequalify 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.
ACTIVATION
Dealers 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.
4. PROCESS STEP DESTINATION
SOURCE
TMF EDIIG
1 – TMF Provides List to eDiig
EDIIG DEALER
2 – eDiig Circulates the list to Dealers
TMF DEALER
3 – Dealer Inspects the Vehicles at Godown
EDIIG DEALER
4 – eDiig Conducts Online Auction / Offline Bulk Quotes
DEALER EDIIG
5 – Dealers Bid in eDiig Online Auction / Submit Quotes
EDIIG TMF
6 – eDiig Sends the Auction Completion Report to TMF
DEALER TMF
7 – Dealers make the payment to the TMF on confirmation
TMF DEALER
8 – TMF Releases Vehicles to the Dealers post Payment
EDIIG TMF
9 – eDiig will Raise an Invoice for the Sold Vehicles
TMF EDIIG
10 – TMF will Release the Transaction Fee to eDiig
5. eDiig will Intimate
Dealers to Collect
TMF Gives List to the Dealers about
the inspection
eDiig the Auction by
letters from TMF
SMS / E-Mail / Etc
Feedback is sent to eDiig will collect
Dealers will inspect
TMF Pre Auction to feedback about the
the vehicles in
recommend any vehicles and the
Godown
changes market trend
Based on Feedback
Final Confirmation
provided by eDiig
of Prices is taken Auction to be LIVE
TMF can re-
from TMF
consider any Prices
6. eDiig Will Monitor Dealers are given
Auction LIVE –
required assistance
the Start of Bids in
Dealers Get a Final
, but they have to
the Auction
Reminder
BID on their own
eDiig will EDIT any eDiig will also cross
check with the eDiig will check for
Wrong BIDS, but
Dealers on their any Wrong Bids
will confirm with
activity
TMF before that
On Completion of
Dealers are also
the auction, eDiig Auction Report
intimated on the
does a final check Sent to TMF
vehicles they WON
on the Winners
7. Buyers will make eDiig will follow-up
eDiig Intimates the
regularly with the
the payments to
Buyers to start the
Dealers for
TMF based on
payments
payments
auction report
eDiig will then
TMF will release If any Dealer is not
check with 2nd or
paying for an Asset
the vehicles after 3rd Bidder after
eDiig de-activates
the Dealer makes confirming with
their ID’s
the payments TMF
TMF needs to eDiig will then eDiig will Cross
inform the Dealers provide the check with the
about the status of necessary MIS & Client on the final
NOC, RC’s, post auction outcome after 48
documents, etc review hours post auction
8. 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
Winner Gets Intimation
Dealers can also get the
Detailed auction thru SMS / Tele on No Dealers have a
list of vehicles won
completion report is of Vehicles Won + Timeframe of 48 hours
from their My Bidding
sent to TMF Amount & Branch to make the payments
Page
Contact Person
Day-3 – SMS is sent to After 48 hours ID’s of
eDiig takes the
Dealers who have not Dealers who have not Dealers get a reminder
payment details made
made the payments made the payment will SMS & Call next day for
from the Dealers to
about de-activation of be temporarily de- making the payments
Track MIS
their id’s activated
On 5th day, defaulting
Final status is reviewed
For genuine reasons in Day – 6 - Final status
on the 4th day and a dealers are deactivated
delay in payment, report on fulfillment is
& 2nd or 3rd bidders are
call is given to dealers
dealers are given time sent to the client for
to get update on their asked to complete the
till the end of 3rd Day confirmation
payment status transaction
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
9. 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 demand
3) 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.
10. Strategy for selling, where vehicles are unregistered or do not have RC
1) Formulate a four way tie –up 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 RTO’s to
issue duplicate RC’s / fresh RC at a speedy pace.
3) Can formulate an arrangement with vehicle financiers, to get the original RC’s from original
customers.
Arrange for inventory / stock funding for slow / non moving brands, by organizing tie-ups with NBFC’s /
Private Financiers, based on dealer’s 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 slow
moving stock thru B2C model.
By combining the above points, we can formulate a robust selling strategy for slow moving vehicles
11. 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 take
insurance 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.
Auto
Insurance
Classifieds
Motors
Inventory
Valuations
Funding
13. Total no of vehicles listed for auctions - 20520 vehicles
Total no of vehicles sold in auctions - 15390 vehicles
Total conversion rate in auctions - 75%
Total Price appreciation over base price in auctions – 11.5%
Total gross merchandise Volume in auctions – 42.5 Crores
Total net conversion in terms of value in auctions – 36.12 Crores i.e. 85%
Total net conversion in terms of vehicles sold in auctions - 14004 i.e. 91%
