{"id":5282,"date":"2021-01-11T16:40:00","date_gmt":"2021-01-11T15:40:00","guid":{"rendered":"https:\/\/staging-corporate.shakazoola.com\/uncategorized\/monk-and-autobiz-sign-partnership-for-damage-recognition\/"},"modified":"2022-11-10T12:24:29","modified_gmt":"2022-11-10T11:24:29","slug":"monk-and-autobiz-sign-partnership-for-damage-recognition","status":"publish","type":"post","link":"https:\/\/corporate.autobiz.com\/en\/press-release\/monk-and-autobiz-sign-partnership-for-damage-recognition\/","title":{"rendered":"Monk and autobiz sign partnership for damage recognition"},"content":{"rendered":"\t\t
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Home<\/a><\/span><\/span><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t11 January 2021\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Monk and autobiz sign partnership for damage recognition<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The aim of the agreement is to combine the advanced image-based damage recognition technology of French start-up Monk with the experience of autobiz, a European leader in the automotive valuation. This product is the result of joint R&D between the two companies.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Damage recognition within smartphone reach <\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The partnership between two French tech companies aims to make the vehicle inspection process more reliable and simplify the vehicle appraisal process, within the framework of their trade-in at the point-of-sale or at a distance. Through their partnership, autobiz and Monk will be amongst the first in Europe to put the power of damage recognition at the service of professionals. The aim is to integrate this technology as effectively as possible into autobiz’s trade-in software for truly practical daily use by all professionals in the used car industry.\u00a0 The solution developed works with a smartphone without heavy and constraining investments in fixed equipment and dedicated spaces.<\/p>\n

Indeed, during a trade-in, the professional has to manage several constraints: be quick and efficient in dealing with the customer, record all the vehicle’s costs accurately in order to control reconditioning costs, generate a detailed description to resell the trade-in vehicles more quickly, and finally, calculate the trade-in and resale prices as safely and as accurately as possible in order to optimise margins.<\/p>\n

In a context where the used car market in 2021 will necessarily be under pressure, making the process of selling used cars more flexible can only help its players in their search for efficiency and thus optimise the time spent in customer relations.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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We are already using artificial intelligence for the automated calculation of trade-in prices with great success. More than 90% of our sales outlet purchasing decisions are calculated by our algorithms. Following an appraisal, in a matter of moments, our programs identify the vehicle, value the reconditioning costs, assess trade-in risks, determine the best resale channel, and provide a guaranteed price to our partners. The addition of Monk’s artificial intelligence to our processes will further reduce the required appraisal time and standardise the cost statements between salespeople.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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says Emmanuel Labi, Managing Director of autobiz.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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An immediate potential of more than 4,500 user points of sale<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Through this cooperation programme, autobiz provides Monk with tens of thousands of datasets from its tools, as well as a test platform for more than 100 professional buyers. From the first quarter of 2020, more than 4,500 points of sale and 8 manufacturers who are already customers of autobiz trade-in solutions will be able to benefit from this innovation.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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We\u2019re very proud to announce this partnership with the European leader autobiz that will get Monk\u2019s tech and AI in the hands of thousands of car dealers. Here we demonstrate together that, using our algorithms, a second-hand car trade-in can easily be achieved at distance and at a large scale. Our common project will benefit to multiple remarketing professionals and give them access to the tools we have a designed for the industry over the past months, our combined expertise and the autobiz management\u2019s exceptional support are key to Monk\u2019s development.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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adds Aboubakr Laraki, co-founder and CEO of Monk.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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About autobiz<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Since 2004, autobiz has been supporting all European players in the automotive industry with trade-in solutions. This support is based on 20 years of data history as well as web, software, and the business know-how of the company\u2019s 280 employees. Today based in La D\u00e9fense (92), autobiz also has offices in Berlin, Valencia (Spain) and Milan. autobiz assists more than 20 leaders in used remarketing (manufacturers, bankers, leasers, bidders\u2026) as well as 5,000 points-of-sale in 22 countries across Europe.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Read more<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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autobiz and JATO Dynamics Forge Strategic European Partnership to Redefine Vehicle Identification and Valuation Standards<\/a><\/h4>
autobiz, the European leader in used vehicle valuation and residual value intelligence, and JATO Dynamics, the global leader in automotive…<\/div>
Learn more<\/span><\/i><\/span><\/a><\/div><\/div><\/div>\n<\/div>\n
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autobiz Italia has been awarded by Great Place To Work\u00ae Italia as one of the best Italian companies to work for, within the Best Workplaces\u2122 2026 Ranking<\/a><\/h4>
autobiz Italia was evaluated by the company’s employees through an internal survey. The result: great satisfaction expressed by the employees…<\/div>
Learn more<\/span><\/i><\/span><\/a><\/div><\/div><\/div>\n<\/div>\n
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BearingPoint and autobiz partner to strengthen transparency and robustness in automotive asset-based financing across Europe<\/a><\/h4>
Two leading European companies announce a partnership aimed at residual value management in the context of asset-backed financing for banks,…<\/div>
Learn more<\/span><\/i><\/span><\/a><\/div><\/div><\/div>\n<\/div>\n
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With a 92\/100 score on the Gender Equality Index, the autobiz Group continues to demonstrate strong performance in advancing gender equality across both tech and automotive sectors!<\/a><\/h4>
With a score of 92\/100 on the Gender Equality Index, autobiz reaffirms its ongoing dedication to fostering pay equity and…<\/div>
Learn more<\/span><\/i><\/span><\/a><\/div><\/div><\/div>\n<\/div>\n
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The latest version of autobizMarket launches in Spain with a redesigned interface and market-specific features<\/a><\/h4>
autobiz announces the rollout of the newly updated version of autobizMarket, the Spanish version of autobizMarket, one of the flagship…<\/div>
Learn more<\/span><\/i><\/span><\/a><\/div><\/div><\/div>\n<\/div>\n
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Advisory Firm of The Year: autobiz awarded for autobizNext, the solution that redefines Residual Value management in Europe<\/a><\/h4>
autobiz has been awarded the title of \u201cAdvisory Firm of the Year\u201d at the 2025 GlobalData Automotive Europe Awards in…<\/div>
Learn more<\/span><\/i><\/span><\/a><\/div><\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tAll our press releases<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The aim of the agreement is to combine the advanced image-based damage recognition technology of French start-up Monk with the experience of autobiz, a European leader in the automotive valuation. 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