iGen Core Business – Recession Proof
IGEN, which is a fully reporting company in the U.S. and Canada, is in the recession proof business of vehicle tracking and fleet management, serving both businesses and individuals across the U.S. However, just because the underlying business is recession proof doesn’t mean it’s not lucrative.
Organizations and individuals that use vehicle tracking and fleet management services regard them as essential services and have no problem paying via subscription, putting IGEN in a very favourable position in terms of the relative ease of generating new revenue.
The company operates under three distinct brands.
“Nimbo Tracking” which focuses on real-time GPS tracking solutions for new and used car dealerships. Car tracking for an auto dealership is an essential service, just like insurance, meaning customer retention is strong in the sector.
“CU track” which focuses on tracking solutions for credit unions and other financial institutions. Today it is normal for financial institutions that offer auto loans to install a tracker in the vehicle as part of the loan agreement. Every auto loan that is approved is literally a sale booked for companies like IGEN, since car tracking is now a standard requirement for loan approval across the asset finance industry.
“Medallion GPS Pro” which focuses on tracking solutions for commercial fleet owners. The platform allows fleet owners to also manage their assets and monitor their drivers to ensure they are behaving in a way that promotes the security and safety of the assets and their own personal safety.
In terms of operations IGEN is in a good space. Its customers, who are largely auto dealers, financial institutions, and commercial fleet owners, see the services it offers as an essential service. They pay via subscriptions, with some of them signing multi-year deals and a good number of them renewing these deals – car tracking service providers are essentially like lawyers; you only change them if something has gone terribly wrong.
IGen Core Business - recession proof
IGEN, which is a fully reporting company in the U.S. and Canada, is in the recession proof business of vehicle tracking and fleet management, serving both businesses and individuals across the U.S. However, just because the underlying business is recession proof doesn’t mean it’s not lucrative.
Organizations and individuals that use vehicle tracking and fleet management services regard them as essential services and have no problem paying via subscription, putting IGEN in a very favourable position in terms of the relative ease of generating new revenue.
The company operates under three distinct brands.
“Nimbo Tracking” which focuses on real-time GPS tracking solutions for new and used car dealerships. Car tracking for an auto dealership is an essential service, just like insurance, meaning customer retention is strong in the sector.
“CU track” which focuses on tracking solutions for credit unions and other financial institutions. Today it is normal for financial institutions that offer auto loans to install a tracker in the vehicle as part of the loan agreement. Every auto loan that is approved is literally a sale booked for companies like IGEN, since car tracking is now a standard requirement for loan approval across the asset finance industry.
“Medallion GPS Pro” which focuses on tracking solutions for commercial fleet owners. The platform allows fleet owners to also manage their assets and monitor their drivers to ensure they are behaving in a way that promotes the security and safety of the assets and their own personal safety.
In terms of operations IGEN is in a good space. Its customers, who are largely auto dealers, financial institutions, and commercial fleet owners, see the services it offers as an essential service. They pay via subscriptions, with some of them signing multi-year deals and a good number of them renewing these deals – car tracking service providers are essentially like lawyers; you only change them if something has gone terribly wrong.
