NEWS

Inspeq gets smarter as Krank unveils next-level AI inspectionKrank has launched Inspeq, its next-generation AI-powered inspection app, now available on the App Store and Google Play. This new tool has been designed to streamline and enhance the equipment inspection process in the construction industry. The app addresses the longstanding challenge of developing a flexible and efficient tool customizable to diverse asset classes, providing a comprehensive solution for dealers, rental companies, and equipment traders. Improving the equipment inspection process The current approach to equipment inspection is time-consuming, complicated, costly, and lacks industry standards. The process often necessitates specialist inspectors, which in turn results in detailed reports being reserved for high-value machine sales. Inspeq addresses these challenges by offering a customizable easy-to-use inspection process suitable for various equipment types within the construction sector. In the first iteration of the app, Inspeq offers over 30 detailed inspection templates for machines ranging from motor graders to crawler cranes. Future releases of the app will offer extensive customization, enabling users to adapt the inspection process for specific asset types. This adaptability ensures efficiency, reducing the time and complexity traditionally associated with equipment inspections.It features advanced tools such as high-resolution photographs, 360-degree video walkarounds, as well as voice notes, additional photos, and text annotations. The app also provides a unique AI-powered voice transcription module that streamlines inspections by eliminating manual data entry. Whether it's logging hour meter details or evaluating paintwork, users can follow on-screen prompts to identify components needing attention. Inspeq then automatically captures verbal reports in real-time, using transcriptions of the user's voice directly through their phone.The app aims to enhance credibility and quality assurance in the buying and selling process, particularly for international transactions where physical inspections can be time-consuming and expensive. By democratizing the inspection process, Inspeq allows for thorough inspections on all machines, not just high-value ones, improving transparency and trust in equipment transactions. Krank's app is powered by customer needs Inspeq is now available to download on the Apple App Store and Google Play and is compatible with smartphones, tablets, and desktop computers. The free version of the app offers professionals ready-to-use report templates and five free AI-powered reports, making smart inspections more accessible than ever. Users can then subscribe to complete additional inspections with their own Krank Enterprise account. "The industry has struggled to create an effective inspection tool that accommodates diverse asset classes, but now, Inspeq provides a user-friendly, adaptable solution that simplifies the process while ensuring high-quality, consistent results," says Joaquim Leal, business development director at Krank. Driven by customer feedback, Inspeq was developed to fill a market gap. "Customers consistently asked for a lightweight and flexible inspection tool, so we developed Inspeq - a solution that streamlines the inspection process and utilizes NextGen AI technology so users can spend less time on paperwork and more time on what matters," states Mark Turner, CEO of Krank.

Heavy Kit features advanced equipment including the Caterpillar D6T LGP bulldozerKrank is excited to announce the launch of      Heavy Kit, a groundbreaking marketplace that redefines how heavy equipment is bought and sold. Unlike traditional platforms, Heavy Kit directly connects buyers with sellers’ marketplaces, offering access to high quality, real-time inventory from top-tier sellers like Liebherr, Sunstate Equipment, Maxim Crane, and Elebbre – all in one streamlined portal. At Heavy Kit, buyers are no longer limited to basic contact details for sellers. Instead, they gain instant access to a full suite of equipment listings updated directly by OEMs, dealers, rental companies, and brokers using Krank’s white label platform. This unique integration not only ensures the listings are current and comprehensive, but it also eliminates the frustrations of outdated "phantom listings" so common in the industry.  Heavy Kit empowers sellers by allowing them to seamlessly “mirror list” their own marketplace inventory, free of charge, directly into Heavy Kit. This means that inventory on Heavy Kit is always accurate, complete, and fully controlled by the sellers themselves, giving buyers a clean and exclusive selection of equipment. Additionally, Heavy Kit connects buyers to real-time auction events held by Krank’s subscribers. Sellers can collaborate on joint events, expanding their reach by pooling inventory and giving buyers unprecedented access to a variety of auctions in one convenient place. Heavy Kit has a variety of high-quality listings from trusted manufacturers, including Komatsu, Liebherr and Caterpillar.“Heavy Kit is central to Krank’s mission of transforming the global heavy equipment trade. By putting control directly in the hands of sellers, we’re empowering our customers to extend their reach effortlessly,” says Mark Turner, CEO of Krank. “For buyers, it’s a one-stop destination to explore prime quality inventory directly from trusted sellers, with the ease and transparency they deserve.”  Heavy Kit is more than a marketplace; it’s a powerful, interconnected network that brings the industry together, making buying and selling heavy equipment faster, easier, and more direct than ever before.  Heavy Kit launches with hundreds of millions of dollars of equipment and an auction featuring 150+ lots in LATAM, hosted by Brazilian broker Elebbre from 13-27 November. Interested parties can find out more and register for the auction on     https://www.heavykit.com/en/auction-events  . 

Despite launching his international equipment trading entity just eight months ago, Uri Toudjarov’s Uriquip is already a multi-million-dollar success, thanks to a reassuring combination of Uri’s enviable reputation and the advanced technology of his Krank-powered online sales platform.Pictured left to right: Michael Toudjarov, Jenny Lee & Uri Toudjarov.As startup performances go, construction industry veteran Uri Toudjarov’s new equipment trading company Uriquip has had a blazing start. Just eight short months since launching the company in January 2024, the ex-head of international sales at Terex and crane dealer BIGGE has made landmark multimillion-dollar deals. Included among these are Chinese-sourced reconditioned 650 crawler crane and two 500 ton all terrain crane sales, both to customers in Latin America, as well as new 550 t AT for a customer in Africa Uriquip’s current crane offering of over 200 cranes, includes a used 2016 LR1600 Liebherr, an all-new 2024 Bullit and a complete line of other units, from 40-130 tons, including several RT1100 rough terrain cranes, all from its in stock in Houston, Texas. Advanced trading platform While much of the success of Uri’s eponymous company goes down to his legendary experience and industry network, credit too needs to go to the state-of-the-art trading platform that underpins his company website and marketing activity. Krank is an enterprise-grade SaaS platform that provides a new way to remarket used equipment, helping customers sell faster, improve revenues and scale both brands and businesses. “Our Krank-powered technology is not only slick, efficient, and very user friendly – it also creates a high level of business respectability that is reassuring buyers of what is, in effect, a start-up company,” Uri commented. On Uriquip’s Krank developed online front-and-back end trading site, buyers can scan through the portfolio of high-quality equipment on offer, examine specifications, peruse high quality imagery, and interrogate the condition reports and specifications. They can also request more information and contact Uri’s team.   “Creating a one-stop-shop website is allowing us to make people feel comfortable making large purchases and accessing all the information they need,” said Michael Toudjarov, Uriquip’s head of marketing. Platform tailored to Uriquip’s needsKyle Jackson, Krank’s global customer success team lead, revealed: "Partnering with Uri to create the Uriquip platform has been an incredibly rewarding experience for Krank. From the initial design to the current implementation, we have made sure to tailor the system to meet Uriquip's unique needs. While useful for Uriquip – this learning is also helping us create a template and a robust model for us developing solutions for future clients. Seeing Uriquip’s early success is reinforcing our commitment to innovative solutions that drive business forward. It’s a testament to how technology and client partnership can redefine industry standards.” You can access the Uriquip platform powered by Krank here: www.uriquip.com 

Liebherr’s launch of its own digital platform to sell used equipment directly has opened the floodgates to a slew of major companies taking control of the disposal of their used equipment.‘Everything is hard before it is easy’ opined 18th century German man-of-letters Von Goethe. Mark Turner, CEO of very much 21st century tech firm Krank, knows exactly what he meant. Over the course of the last eight years, his firm has developed a state-of-the-art platform for trading used equipment.Trouble is, no one was interested.Or rather, no one was until one of the world’s largest construction equipment manufacturers, Liebherr, launched its own digital Used Equipment Marketplace, underpinned by Krank technology. Since then, Mark’s phone has not stopped ringing and doors that were once firmly shut are now wide open. Major brands, such as the US’s Maxim Cranes, have also adopted the white labelled Krank platform to support the disposal of their used equipment.“This is the smallest biggest industry in the world,” smiles Turner, somewhat ruefully. “Everyone knows what each other is doing and it is very, very hard, for new ideas to gain traction. But when they do break through – news gets round fast.”Game changing momentAfter months of touting his platform around the industry, without much success, he sat down with the German-Swiss manufacturing giant Liebherr – and suddenly it was game on. Launched earlier this year, and powered by Krank’s marketplace platform, Liebherr’s Used Equipment Marketplace provides a secure and user-friendly method to dispose of the thousands of used machines that Liebherr acquires as part of global operations annually.“There’s no doubt it was a game changing moment,” says Turner, “because they saw exactly what we saw in the technology. After a lot of knock-backs, I finally had a sense of validation that this was the future of used equipment sales. Liebherr taking charge of selling its own used equipment shows how digital transformation is enabling companies to go a step further than traditional sales channels.Krank’s digital solution challenges the traditional equipment disposal routes of using intermediaries, such as brokers and auction houses. With middlemen fees as high as 25% of sale price, sellers are starting to realise that technology can help them take control of the process – and maximise revenues from disposals. Buyers benefit too: they get the assurance of purchasing at the best price directly from the owners of the equipment.Best of both worlds"Disposing of a machine through a broker or auction house is a common and straightforward method of disposal,” says Turner. “However, it can sometimes be more costly, with varying results – with the seller often losing control over their inventory and brand. If sellers put in a bit more effort and embrace technology then they can quickly increase their bottom line – and be more effective when selling their used equipment.”It’s more than just protecting prices: sellers of equipment also want greater control and oversight of the sale process. A major part of this is building a formidable network of current and potential buyers – sales information that auction houses and brokers naturally keep to themselves.“What we are trying to do with our platform is connect the industry,” says Turner. “I think that’s the real disruptive element of this technology – its ability to rapidly scale professional industry networks. The more people in your network, the bigger the opportunity to organically prime and grow your sales funnel.”There is also a sustainability element to owners selling their equipment themselves. And that is it doesn’t need to be moved to a third-party sales location. In fact, it only moves when it needs to go to the buyer, thereby keeping its carbon footprint at a minimum.Perfect ‘halo’ early adopterLiebherr’s adoption of marketplace technology may have been a watershed moment for Krank, but it seems like a technology whose time was due anyway. With a new generation of tech-friendly management coming of age, and e-commerce and the Internet of Things allowing us to take control of so many aspects of our lives, it was only a matter of time before technology made the business of selling used equipment possible by the seller. And not just for a company like Liebherr, the platform is scalable and just as accessible to ‘mom-and-pop’ yards. But Liebherr was the partner who first recognized the platform's potential for the construction machinery industry."Our collaboration with Liebherr, one of the world’s largest and most respected manufacturers of construction equipment, is reshaping how companies manage their equipment lifecycles," concludes a finally vindicated Mark Turner. "Liebherr taking charge of selling its own used equipment is a turning point for the whole industry. It shows how digital transformation is enabling companies to complement traditional sales channels."

Liebherr, in collaboration with Krank technology, has announced the launch of its own hosted digital platform, the Used Equipment Marketplace, specifically tailored for selected product segments. This initiative is a first for a major global OEM and marks a significant advance in the disposal of used equipment, focusing on construction and material handling machines.One of the largest construction equipment manufacturers, Liebherr, has launched its own digital Used Equipment Marketplace. The new online platform is underpinned by Krank technology and provides a secure and user-friendly method to dispose of the thousands of used machines that Liebherr acquires as part of operations annually. Liebherr’s Used Equipment Marketplace is the latest example of Krank technology in action, demonstrating the platform’s robustness, scalability and ability to cater to businesses of all sizes with used equipment to dispose of.Daniel Hecker, Business Development Sales at Liebherr-EMtec GmbH, commented on selecting Krank as the development partner: “We were looking for an expert in creating marketplaces for used construction equipment – and Krank is the standout partner. With the launch of this marketplace, focused on our specific product segments, we provide a central platform for our global used equipment business. Customers are able to independently search our virtual marketplace for the used equipment they need, while our sales partners register and manage their listings via the platform and its associated apps.“The marketplace brings together on a single platform the entire supply and demand sides of our used equipment business,” Hecker continues. “It combines Liebherr’s strengths of personal advice and customer relationships with the much greater visibility a global digital marketplace offers.”Figure 1 Krank Founder Mark Turner (left) with Liebherr's Alexander Sattler, Head of Business Development Sales & ServiceA seamless digital experienceThe Krank platform has been tailored specifically to meet Liebherr’s precise needs, upgrading and replacing existing systems to enhance service delivery. Designed with the user in mind, Liebherr’s Used Equipment Marketplace provides a wide selection of the company’s pre-owned machinery, including wheel loaders, tracked and wheeled excavators, as well as attachments and spare parts from Liebherr’s sales and service partners. With its advanced search and filtering tools, users can easily find what they need. The platform supports global accessibility and promotes sustainability by extending the operational life of equipment, offering cost-effective, resource-conserving solutions.On-the-go accessThe marketplace is accessible through a website and will soon be available via a mobile application. This app will feature personalized watch lists, real-time notifications, and direct seller communication, simplifying the equipment purchasing process.By selling directly through its platform, Liebherr maintains complete control over profitability, and eliminates the need for intermediaries in the sale process. This approach preserves against margin erosion for Liebherr and offers buyers the assurance of purchasing at the best price directly from the owners of the equipment."Our collaboration with Liebherr, one of the world’s largest and most respected manufacturers, is reshaping how companies manage their equipment lifecycle," said Mark Turner, CEO of Krank. "Liebherr taking charge of selling its own used equipment shows how digital transformation is empowering companies to move away from traditional disposal routes. We are pleased to have our technology underpin Liebherr’s new digital marketplace."Liebherr’s Used Equipment Marketplace is accessible here.