(Free Press Release) Ft. Worth, April 16Ã¢â‚¬”Digital Recognition Network (http://www.drndata.com), the world leader in license plate recognition, asset recovery solutions and risk mitigation reports that clients using DRNâ€˜s LPR 2.0 solution improve their bottom line with a lift of up to 10%.
When you recover asset value quickly, you create a revenue driven collections model versus an expense driven model, said Chris Metaxas,
CEO of Digital Recognition Network. Ã¢â‚¬Å“The LPR2.0 license plate recognition solution makes asset recovery happen quicker and more reliably than any method used previously,Ã¢â‚¬ he said.
By providing the instant, simultaneous cross checking of multiple vehicle location report databases to facilitate real time asset recovery, LPR2.0 goes beyond a residence or place of employment to increase asset recovery wherever cars congregate.
DRN clients have noted that, because LPR2.0 operates in a vast network, asset recovery companies benefit from a Ã¢â‚¬Å“network effect,Ã¢â‚¬ allowing asset recovery (and recovery of the assetâ€˜s value) faster. The network effect also reduces operating expenses and offers real risk mitigation.
The result is an improved balance sheet because LPR 2.0 accelerates the time to value of exposed assets, with a corresponding reduction in asset charge offs. Current users of LPR2.0 report that, when added to their current activities for asset recovery, they experience 7% to 10% lift in their time and asset value.
Digital Recognition Network (DRN) is a data company exclusively focused on license plate recognition, asset value preservation and on automotive data derived from license plate identification. By recovering, storing and grouping data on vehicle location, where vehicles go and who drives them, DRN is able to provide value to clients to help them make better, more profitable decisions while preserving asset value. An industry pioneer in vehicle asset location technology and asset recovery, DRN fuels a national network of more than 550 affiliates employing mobile license plate recognition technology that gathers the automotive data. Because this license plate identification technology is used in every major metropolitan area in the United States, DRN captures automotive data on up to 50 million vehicles each month. With more than three-quarter billion data points gathered to date, DRN has the largest vehicle location data base in existence. We are proud to maintain strict standards for privacy, compliance, and data integrity. For more information visit: http://www.drndata.com.