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Xcira began as Auction Management Solutions, Inc. (AMS). In 1996, after several years of research and close collaboration with technology and industry leaders in the asset disposition and related data services industries, the company was incorporated as a minority-owned business in the state of Florida. With an eye on what the Internet could do for auctions and asset disposition industries, AMS began selling web-site development/hosting services and conducting online-only auctions.
Initially, AMS provided full cradle-to-grave auction services for conducting online-only auctions, including advertising, inspecting, arbitration, bidder registration/approval and transaction management. This experience was essential in allowing AMS to provide the best online auction technology to our customers. It also provided crucial early in-depth insight into online auction psychology, giving future AMS products the edge they needed to become market leaders.
Simultaneously, while conducting online-only auctions, AMS began researching and pioneering the technology that would allow auctions to simulcast their auctions over the Internet. Key mandates of the system were that the remote bidders could not be at any disadvantage, the auctioneer would always remain in control of the auction, and the remote bidders would experience the same emotion and enthusiasm of the live auction event. The new system so effectively blended traditional auction experience with exciting new technologies that its name, OnLine Ringman®, was derived directly from the rich history and tradition of the auction model. The "ringman" in an auction relays bids from bidders in a particular area to the auctioneer. AMS selected OnLine Ringman® as its system name to reflect its function as the intermediary relaying bids from the online bidders to the auctioneer.
AMS faced various obstacles in the development of its auction simulcasting system. In the late 1990's, most consumers did not have access to high speed internet connections. Beyond the technical hurdles, AMS faced early skepticism that users would ever buy large-ticket items, sight-unseen, over the Internet. From the very first OnLine Ringman event on May 26, 1999, OnLine Ringman® has continued to overcome such challenges and exceed expectations. While the system has changed and evolved greatly since that first OnLine Ringman® event, it remains true to its original commitment to the authenticity of the auction experience and the success of each event.
As AMS continued to grow its OnLine Ringman® and online-only (renamed to be OnLine RinglotsSM) market share, our clients began asking AMS for additional assistance in addressing the e-commerce opportunity in used assets. A dependable, accurate depiction of an asset's condition is critically important to a buyer's confidence when bidding on a used asset, sight-unseen, over the Internet. In 2004, AMS unveiled its Intelligent Condition Evaluator (ICESM) system. ICE is a software application that resides on a camera-enabled Personal Digital Assistant (PDA) or smart cell phone. ICESM presents a series of templates that are unique to the type of asset (automobile, wheel loader, dozer, etc.) thereby eliminating much of the subjectivity of classifying the asset's condition. Today, ICESM is used in the auction, rental, dealership and financial industries.
In 2005, AMS established an Operations Center to enhance the company's commitment to be a true partner with our clients in each event they conduct using our products. The Operations Center, a visitor favorite, is the nerve center of the company - all infrastructure components, auction events and inspections are monitored by sophisticated health monitoring systems as well as by employees on site during each event. To provide high quality, reliable service to our clients, Malcolm Baldridge process controls are also implemented company-wide. All repeatable processes are defined, refined, measured and reviewed on an ongoing basis.
Again in response to the needs of our clients, AMS established a Clerking Center in 2008 to provide remote clerking services to support OnLine Ringman® auction events. This Clerking Center now allows auction companies to simulcast an auction from any location with only two phone connections.
In 2009, AMS changed its name to Xcira to acknowledge the wide diversity of services offered to the auction industry as well as the asset disposition industry. The name was chosen to represent both our technology and our never-ending pursuit of excellence. Our new brand identity uses the color blue, a global logo, and the majesty of cirrus clouds representing our positive vision of the future.
We believe the future holds expansion for our auction industry clients, new uses of our technology for asset disposition, more global partnerships and continued improvements in our technologies through adherence to proven quality processes. Xcira will excel by holding true to its founding vision, even as technology and the industry evolve.
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