Cortland Brady is the Founder and CEO of Aspen Field Services. Cortland has taken the company from conception in April of 2017 to an international inspection company. Aspen provides collateral inspections, asset verifications, and valuations on assets throughout the entirety of North America and Europe. He can be reached at firstname.lastname@example.org / 801-335-7454.
COVID-19 has presented the asset inspection space with a unique set of new and unfamiliar problems: the need to collect accurate data quickly, but without the use of traditional face to face methods. Cort Brady shares how Aspen Field Services has become creative with solutions for conducting collateral inspections, business verifications, and inventory audits amidst a climate of social distancing.
Just two weeks ago, the world looked as it nearly always does; businesses buzzed in a thriving market. Though news of a virus began surfacing, many expected and hoped it would pass quickly. Fast forward to the present, and the impact of COVID-19 is real. While the rapidly shifting climate is uncertain, we’ve seen an overwhelming positive response from businesses, employees, and families. Their choice to lift and support each other reminds us of the innate kindness that underscores humanity.
Everyone is rising to the occasion with all hands on deck. Entire organizations are attacking the situation head-on, working long hours in order to serve their customers and ensure paychecks for their employees. Lessors, lessees, vendors, and partners are pivoting quickly, leveraging technology to both keep their employees safe and maintain a high degree of service for their customers. As we do our part to flatten the curve and promote social distancing, we are collectively shaping the very makeup of the workplace.
As we move forward together, we recognize the imperative need for the continued funding of small businesses. Financers will play a critical role in helping the nation weather the storm. In order to make important lending decisions, lending institutions will continue to need crucial data, such as the location and condition of assets. Yet, social distancing measures pose new dilemmas.
The Problems We Face
In the inspection space, we are confronted with a unique set of new and unfamiliar problems. We need to collect accurate data quickly, but without the use of traditional face to face methods.
Some inspectors have chosen to limit their inspection activities at this time
Certain local governments have ordered a “shelter in place” which limits outdoor travel
High-risk states have ordered statewide closure of non-essential businesses
Increasingly, dealers are refusing to allow inspectors onsite
How Tech is Helping
At Aspen Field Services, we have had to get creative with solutions for conducting collateral inspections, business verifications, and inventory audits amidst a climate of social distancing. A partnership with the Instant Data Technology company Now LLC has provided massive benefits in facilitating continued inspections. Their GoVideo technology enables us to become the inspector remotely and conduct these inspections through real-time video without having to send an inspector to the site.
How the GoVideo Works
Financers or inspection companies connect with the asset holder (lessee, site contact or other)
Perform inspections and audits remotely via real-time video sharing
Geolocate the inspection coordinates, ID the user, and validate asset condition
Provide photos and data in a traditional PDF report, along with a video link showing the entire inspection
Lessors and funding sources are able to join the call in real-time to see both their lessee and the collateral they are lending against
We are optimistic about technology’s power to help the world prosper. By mitigating the effect of external circumstances, the GoVideo technology allows us to safely gain the crucial knowledge our customers need from inspections without having someone on site. We are able to move through these turbulent times with confidence, knowing that our business can continue to provide the highest quality service. Aspen Field Services has fully harnessed NOW, LLC’s GoVideo technology, and it is allowing us to perform inspections as usual.
There are numerous ways that each business can flatten the curve, and NOW, LLC has provided one such way. Necessity is the mother of invention; we are confident that more inventions and innovation will emerge as the industry continues to share ideas and push creative bounds.
We hope that this time will pass quickly and believe that we can weather the storm together. We expect to emerge with rejuvenated unity as we seek to help both customers and competitors thrive in these uncertain times.
Over the course of Rich Doherty’s 43 years in the equipment finance industry, he has held a variety of roles at companies we all know well — CIT, Banc of America and PNC, to name a few. “Rich brings a... read more
With the onslaught of the COVID-19 pandemic and the resultant torrent of loan defaults, secured lenders are scrambling to determine their remedies. Of course, foreclosure is a key mechanism of enforcement at the forefront of the minds of secured lenders.... read more