BNP Paribas partners with Ritchie Bros.

BNP Paribas Leasing Solutions is set to optimize its asset valuation and management workflow following the announcement that they have commenced a partnership with Ritchie Bros. Asset Solutions.

The technology provided by Ritchie Bros. Asset Solutions enables companies to streamline their asset tracking, valuation and disposition workflows (Photo: Ritchie Bros Asset Solutions)

By utilizing Ritchie Bros’ suit of remarketing tools, BNP Paribas will be able to estimate the value of financed equipment to provide its customers with an attractive and accurate estimation when drawing up contracts.

The technology provided by Ritchie Bros enables companies to streamline their asset tracking, valuation and disposition workflows and, through the use of a comprehensive database, users are also able to make data-driven decisions on instalment rates, risk exposure, and more.

Asset disposition workflows are built into the software so users can push assets to a selling channel of choice.

Other services can also be arranged from the platform, including repossession and logistics, intake inspections, refurbishing, advice on repossessed and end-of-lease assets, and more.

Commenting on the partnership, Pierre Pavec, Asset Management and Circular Economy Manager at BNP Paribas Leasing Solutions, said, “It is key for us to be able to estimate the value of the equipment we finance so we can include accurate residual values in our contracts and offer more attractive solutions to our customers.

“With Ritchie Bros. Asset Solutions’ asset valuation curves, finance calculator, and Mascus’ row listings data, we’re able to refine our estimation models on all the equipment we finance and set up financing programs that meet the needs of our clients and partners.”

Tim Scholte, VP and General Manager of Mascus and Ritchie Bros. Asset Solutions, added, “We’re very excited to have BNP Paribas Leasing Solutions on board, the world’s largest vendor lease supplier.

“It’s a big step forward for the Ritchie Bros. Asset Solutions platform that we’re continuously developing and we’re looking forward to working with the BNP Paribas Leasing Solutions team to help them optimize their asset valuation.”