APFusion Founder and CEO Alex Smith have witnessed personally how things are done in the industry as a member of a family that has been in the automobile salvage business for four generations and nearly 100 years.
There is room for technical progress in every facet of their business, from obtaining aftermarket components to managing data entry in their outmoded systems to making payments.
“There’s just a lot of inefficiency and waste in the salvage sector,” Smith said, “and I feel it can all be handled by technology.”
Providing Extra Software Tools
APFusion is a business-to-business (B2B) marketplace that connects providers of new aftermarket parts with salvage yards, allowing salvage yards easy access to new components in addition to the old ones they presently supply.
In July, the business announced a $6.5 million seed round to further upgrade the vehicle salvage market. APFusion is striving to expand its platform beyond the marketplace to incorporate software solutions to assist salvage yards to become more productive in their everyday operations.
“I believe it’s incredibly critical for a lot of SaaS firms to develop a moat around their core product to prevent churn,” Smith added. “That’s why we’re so focused on creating a world-class product and surrounding it with all of these other software tools.”
“The best approach to prevent churn is to offer so much value that salvage yards remark, ‘We’re receiving so much more for what we’re paying.'”
