Consolidated Asset Recovery Systems

The company's core offering is the I-BEAM (Internet-based Electronic Asset Management) web portal, a Software-as-a-Service (SaaS) platform that provides lenders with real-time management and visibility of the asset recovery process. This system connects lenders with a network of over 800 certified recovery specialists across the US and Canada. The platform manages the entire workflow, from initial assignment to final disposition, and is designed to handle a wide range of assets, including cars, trucks, industrial equipment, and marine vehicles. The business model is structured on a "pay-as-you-go" basis, charging a small administrative fee per case, which avoids the high upfront costs of traditional software.

CARS provides a comprehensive suite of managed services, including repossession, skip tracing, remarketing, legal actions like replevin, and various field services. The I-BEAM portal serves as a central hub for all parties—lenders, repossession agents, and auctioneers—to communicate and view the same information, eliminating manual processes and improving transparency. The platform also incorporates analytics to score agent performance dynamically, aiming to optimize recovery rates for its clients. In April 2019, Consolidated Asset Recovery Systems was acquired by Primeritus Financial Services, a move intended to combine the strengths of both companies in technology and service delivery within the auto finance industry. Following the acquisition, CARS continues to operate and leverage its technology as part of the Primeritus family of companies.