Auction Management Solutions and Insurance Auto Auctions Announce Patent of Online Bidding Technology
WESTCHESTER, IL – Auction Management Solutions, Inc. (AMS) and Insurance Auto Auctions, Inc. (IAA) have announced that AMS has been granted a United States patent for its OnLine Ringman technology.
WESTCHESTER, IL – Auction Management Solutions, Inc. (AMS) and Insurance Auto Auctions, Inc. (IAA) have announced that AMS has been granted a United States patent for its OnLine Ringman technology. This technology is used to power IAA’s online bidding product, I-bid LIVE, which allows buyers to join live auctions through any Internet-enabled computer and bid along with both live local bidders and other Internet bidders.
In addition to speed and ease-of-use, I-bid LIVE provides a live voice feed of the auctioneer directly to IAA’s Internet customers, allowing them to actually hear the bidding activity real-time and giving them a better feel for the auction itself. During the first part of 2004, IAA and AMS successfully tested the product and rolled it out. IAA met its objective of rolling out I-bid LIVE to all of its targeted branches by the end of the year.
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