Consolidated Asset Recovery Systems

Consolidated Asset Recovery Systems (CARS), operating as ez-recovery.com, offers a technology and services platform for the asset recovery and remarketing industry. Founded in 2005 by software supply chain veterans Steve Norwood and Terry Groves, the company was established to digitize the traditionally paper-based repossession sector. Norwood's background in streamlining procurement for financial services and aerospace companies informed the creation of a full-service internet portal to manage the asset recovery lifecycle.

The company's core offering is the I-BEAM (Internet-based Electronic Asset Management) web portal, a Software-as-a-Service (SaaS) platform that provides lenders with real-time management and visibility of the asset recovery process. This system connects lenders with a network of over 800 certified recovery specialists across the US and Canada. The platform manages the entire workflow, from initial assignment to final disposition, and is designed to handle a wide range of assets, including cars, trucks, industrial equipment, and marine vehicles. The business model is structured on a "pay-as-you-go" basis, charging a small administrative fee per case, which avoids the high upfront costs of traditional software.

CARS provides a comprehensive suite of managed services, including repossession, skip tracing, remarketing, legal actions like replevin, and various field services. The I-BEAM portal serves as a central hub for all parties—lenders, repossession agents, and auctioneers—to communicate and view the same information, eliminating manual processes and improving transparency. The platform also incorporates analytics to score agent performance dynamically, aiming to optimize recovery rates for its clients. In April 2019, Consolidated Asset Recovery Systems was acquired by Primeritus Financial Services, a move intended to combine the strengths of both companies in technology and service delivery within the auto finance industry. Following the acquisition, CARS continues to operate and leverage its technology as part of the Primeritus family of companies.

Keywords: asset recovery, remarketing services, repossession management, I-BEAM portal, auto finance, skip tracing, SaaS platform, automotive recovery, collateral recovery, financial services technology, lender services, asset tracking, legal recovery, vehicle remarketing, online asset management, compliance management, recovery specialists network, field services, Steve Norwood, Terry Groves