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Passkey Partner Tractor Zoom Pro Streamlines Asset Valuation

Equipment is a growing proportion of farmers’ balance sheets and values of those machines are growing at a significant rate, so accurate valuation is essential for collateral risk management. Designed specifically to support Farm Credit collateral appraisal processes, Tractor Zoom Pro automates equipment valuation with real-time access to actual auction and dealer sales prices. Based on equipment type, make and model and dozens of other variables, Tractor Zoom Pro delivers accurate, transparent and traceable valuations.

“After completing the first evaluation using [Tractor Zoom Pro], our team’s response was that the values being returned aligned with our traditional method and would likely result in a 50% reduction in time to complete the chattel valuations. We look forward to continuing to work with the team at Tractor Zoom,” stated Graham Smith, Chief Appraiser for AgCarolina Farm Credit.

With additional information such as use hours and manufacture date, the data can be made even more specific. The system displays all the comparables used to calculate the assessed value, and these parameters can be customized by each user for each search. Individual customer equipment lists can be saved for easy, periodic updates without needing to re-enter data.

Access to the power of Tractor Zoom Pro data is simple: once contracted, appraisers and loan officers can immediately start searching for comparable sales prices through an intuitive user interface, and can start inputting their customers’ equipment lists.

A full enterprise rollout, with all customer equipment lists digitized for automated updates as equipment values change, can be completed in days. Data can be viewed by individual Farm Credit branches, for example in advance of a renewal, or rolled up for an enterprise view into overall equipment portfolio risk.

“Because we’re focused as a data company, we’re able to optimize how the data is presented for each client, continually improving the user interface or reporting to meet their needs,” says Andy Campbell, Director of Insights with Tractor Zoom. “By working hand-in-hand with our lending partners and learning about their pain points, we’re able to evolve our solutions to work best for them.”

Already supporting 34 Farm Credit organizations covering 31 states, Tractor Zoom Pro understands the regulatory environment and has designed its system for traceability and transparency.

Passkey Members receive a 10% discount on Tractor Zoom Pro subscriptions. For more information, email Jonathan Vizcarra.

About Passkey

Powered by FCCS and backed by a 20-year track record, Passkey leverages the collective purchasing power of cooperatives, associations, public entities and industry groups to negotiate significant discounts with national partners. Discounts include business service solutions as well as many personal discounts available to the employees and boards of participating organizations, from car rentals and vacations to telecom services and office supplies. With no cost to participate, we invite you to join the program.
For more information about Passkey, visit our website or contact Heather Tseng, Passkey Sales and Marketing Director at 303.903.8544.

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