Tenna and Boom and Bucket have announced plans to team up on an integration for equipment valuation and sales. This partnership should help contractors manage their heavy equipment fleets.
According to a press release:
Tenna, a construction technology platform for equipment fleet operations, and Boom and Bucket, an online marketplace for buying and selling heavy machinery, together announced a strategic partnership and integration for enhancing a construction business’ ability to manage the lifecycle of their owned fleet.
This partnership involves the integration of Boom and Bucket’s innovative market valuation and data tools into Tenna’s equipment operations platform. It shows Boom and Bucket’s real-time asset value at the asset level on Tenna and incorporates the option of listing an asset on Boom and Bucket’s marketplace as part of the equipment disposal process in Tenna. This provides contractors with unmatched insight and convenience in the end-to-end management and sale of their high value, heavy construction equipment. The seamless integration of operating, maintaining and monitoring assets in Tenna and selling them in Boom and Bucket’s marketplace is an innovative, timesaving, industry-first solution and a significant milestone in the evolution of equipment management and sales.
“Integrating with Boom and Bucket represents a significant leap forward in construction equipment fleet management,” says Austin Conti, co-founder and CEO of Tenna. “Tenna users can now benefit from an end-to-end solution that not only helps them track and manage their assets but also effortlessly transitions into selling them at the right time for the right price.”
This integration is valuable for contractors because it gives them everything they need to treat their assets like a financial portfolio on Tenna. Tenna provides “inside” data on how much a construction business’ equipment is being used, how much it makes them, costs them to operate and maintain and more. Boom and Bucket brings in the “outside” data on how much their equipment is worth in terms of current market value.
“We’re thrilled to partner with Tenna and offer an innovative solution that bridges the gap between equipment management and sales,” said Adam Lawrence, CEO of Boom and Bucket. “This partnership is a testament to our commitment to leveraging technology to enhance efficiency and profitability for our users. We look forward to providing data and insights to the billions of dollars of equipment on the Tenna platform.”
With Boom & Bucket’s valuation tools integrated into Tenna, contractors can instantly access auction results and retail asking values for their owned equipment within Tenna, facilitating accurate price valuations. “Tenna prides itself in providing reliable data to make business decisions with on an easy-to-use platform for contractors,” says Russ Young, Chief Business Development Officer at Tenna. “Our partnership with Boom & Bucket benefits construction businesses by enabling them to easily make informed, data-driven decisions about operating, retaining and/or selling their owned assets based on current market data.”
With a single click within Tenna, contractors can seamlessly transition their equipment from monitoring and management within Tenna to being listed for sale on Boom and Bucket. This integration streamlines the process by eliminating the need to navigate between platforms for equipment management and sales, consolidating both into one seamless experience. Tenna users can leverage this integration to access the latest market values and make informed choices on when to sell assets to maximize returns.
This integration will be available in the summer of 2024 at no additional cost to all Tenna users (accessible based on permissions within each asset’s financial section), and underscores Tenna’s commitment to providing innovations to the construction industry around construction equipment operations.
