In order to better serve the needs of the remarketing industry, SalvageNow has changed its name to Vemark. The company aims to provide software and services to help clients better manage their remarketing and loss recovery activities. According to Vemark, consignors need real-time information in order to effectively manage cycle times and intelligently direct vehicles through proper channels.

Improperly managed cycle times have consignors losing about 20 percent of their potential recovered value, said a Vemark representative.

"We are ideally positioned to provide a complete, end-to-end solution to any business within the vehicle loss recovery sector of remarketing. At the same time, we have eliminated the problems of providing aggregated, normalized data across numerous auction sites in real-time while providing the consignor flexibility to design its loss recovery strategy in the physical or online environments," said Doug Mellette, chief executive officer of Vemark.

Vemark provides online auction, pool management, and auction network management solutions for daily rental companies, fleet/lease companies, insurance companies, and other clients.