Ally Financial Awards Re-Source Partners
Having navigated the IT asset management field for more than two decades, Re-Source Partners eventually settled into its niche, and was recently praised with a prestigious award.
Ally Financial, a digital-only bank and auto finance company, has chosen the Michigan-based IT asset management and disposition firm as its 2023 Technology Partner of the Year.
For 21 years, Re-Source Partners has been able to transition and shift the firm’s services from a third-party lessor approach to its current “concierge service” which offers complete lifecycle solutions. This was highlighted by president of the company, Mike Loria in an interview with E-Scrap News.
“From Day 1, what we’ve been good at is tracking assets,” Loria stated.
Re-Source has been an Ally technology partner since 2014, and is now being rewarded for its contributions. The company has been a useful collaborator for Ally, performing tasks like inventorying and tracking, warehousing of new and used assets, data sanitization, as well as asset disposal.
A Beneficial Partnership
According to Loria, Re-Source has been of great assistance to Ally in helping “them control that whole process and make sure what’s coming in is right and what’s going out is right and do it with 100% accuracy.”
“I think that’s where Ally and ourselves recognized what good teamwork can do for a partnership and I think that’s the root of why they selected us as their supplier of the year,” he added.
Loria emphasized that Ally wanted to recognize and honor Re-Source’s workforce through presenting the company with an award demonstrating how critical its efforts are.
He pointed out that responsibility, reliability, and relentlessness are integral to the organization’s business philosophy. Adding that the award is “proof that we’re living our values and delivering on them.”
Re-Source Partners’ Transition to Asset Management
Located in Troy, Mich., Re-Source Partners got its start in computer leasing roughly two decades ago, as a third party for a lessor. Loria stated that when dealing with clients, inquiries arose about disposal options. This motivated Re-Source to expand, leading to its current space, a 50,000-square-foot facility.
Then in 2008, the decision was made to transition into device disposition, according to Loria. They “did some really heavy tonnage for Dell and Goodwill” before noticing that this sector was more competitive than expected, with fewer opportunities for customer interaction.
In 2012, Re-Source Partners ultimately decided to move into a totally new direction, according to Loria. After speaking with customers, it became clear that some lacked any real asset management practices and had no idea what resources were in their possession.
“That got our interest,” Loria commented.
A Consulting Practice Emerges
Intrigued, Loria and the team at Re-Source Partners started creating a consulting practice and providing process design services to clients to develop lifecycle approaches for their assets.
“That was our first step from end-of-life to full lifecycle providers,” Loria recalled. Nowadays, only a small portion of Re-Source’s earnings are derived from recovered value, while the remaining income is garnered through its management services.
The use of Re-Source Partner’s services can result in saving companies from “hundreds of thousands of dollars in lost assets” according to him.
“We track their assets and we find that they’re drastically over-provisioning and not watching for those things,” Loria explained. “Five percent of even a $50 million hardware spend annually, that adds up pretty quick.”
Calculated Growth Endeavors
In light of the changes to the workforce caused by the pandemic, Loria has indicated that any growth strategies for Re-Source Partners will be highly strategic.
Previously, Re-Source Partners would deliver large batches of assets to one location, and then allocate the items between the personnel present at that site. Now, however, due to the rising popularity of remote working, Re-Source is sending supplies directly to end users.
“Because of the remote workforce, there’s fewer people on campuses and therefore fewer hands to handle the types of projects we do,” he expressed. “I think our workforce is going to continue to grow as we hire more onsite techs” to continue its work.
Financial Sectors Targeted
Focused on developing a higher level of performance with its current customers, Loria announced plans to broaden Re-Source Partners’ involvement in financial industries, while also improving its workflow and services. This simplification of processes should reduce the amount of transitions an item has to go through in order to get to its destination, and ultimately seeks to take some of the burden off clients.
“I think we have a couple of ways we go about this, but integrating with the clients with their software is where I really see the future,” he stated.
Rather than striving for industry dominance, Loria stressed the importance of fostering strong and enduring ties with customers.
“We look to be solid in innovating and having cool solutions and being a little more knowledgeable about what goes on in the client,” he said.
Resource Partners continues to listen to what its customers need and adjusts its business model accordingly.
