Boom & Bucket Integration Overview and FAQ
This article includes how to set up the Boom & Bucket integration, how to receive market values (auction and retail values), how to sell with Boom & Bucket, how to download the market value report, and frequently asked questions and troubleshooting.
Boom & Bucket is a digital equipment dealer focused on heavy equipment and is changing the way that contractors buy and sell used heavy equipment. Tenna partners with Boom & Bucket to enhance the Asset Details financial experience via API Integration.
Learn more about Boom & Bucket here!
Note: The Boom & Bucket license is complimentary and turned “on” by default. If you would like to disable the integration, reach out to your Tenna Rep.
Permission Requirements:
- Users will need the Asset > Financial Information permission enabled in order to access the Boom & Bucket data and features.
In this article:
How to Use Boom & Bucket Integration
Market Values (Auction Value, Retail Value and Confidence Ratings)
Overview and Important Notes
The Boom & Bucket Integration:
- Unlocks the user’s access to get real-time estimated residual market values of machines.
- Allows a user to share the asset’s information on the Boom & Bucket website when they are ready to dispose of it.
In order for the Boom & Bucket widget to be shown and give accurate residual market values, the asset must:
- Be “Owned”
- Have a category of Equipment, Vehicle or Truck
- Have accurate data for: Make, Model, Year, Miles/Hours
- Due to the variety of body styles associated with On-Highway Units, to retrieve accurate results, users may need to select a Sub-taxonomical Category via the “Modify Parameters” option. (e.g. Lowboy Tractor vs Fuel Truck).
How to Use the Boom & Bucket Integration
Market Values
Important! The final value of the machine will be determined when cash exchanges hands. The valuation being returned via the integration is meant to give users an understanding of recent activity associated with similar assets.
The following information is populated from the Boom & Bucket’s “Get Market Report” feature.
Auction Value
The Auction Value will show a low and high range with an Estimate in the middle for the amount expected to get for the asset at auction.
Retail Value
The Retail Value will show a low and high range with an Estimate in the middle for the amount expected to get for the asset when selling retail.
Confidence Ratings
Hover over the confidence rating icon next to Auction or Retail Value to view the confidence rating details.
- The Confidence Rating will be low, medium or high.
- If you receive a “Low” confidence rating, download the report and diagnose from there. This is typically because of a low number of recent transactions for similar equipment, so values could vary significantly.
- A “Medium” or “High” confidence rating indicates the values are more accurate. Users may still download the report for further review.
- The Number of Comparable indicates the number of comparable listings used by Boom & Bucket to determine the asset valuation .
Download Report
Users can download a full Market Valuation Report from Boom & Bucket by clicking “Download Report” below Retail Value. The downloaded report contains information that is used to populate the Asset Details Financial Page Widget, and can provide insights behind the market values returned.
Modify Inputs and Download
Select the "Download Report" from the drop-down and then click "Modify Inputs & Download" to edit data points like make, model, year, current hours/miles, or taxonomical classification.
Why would I need to modify the inputs?
A user may need to modify inputs if:
- incorrect data entered in asset details
- inaccurate meter association (i.e., sending mileage when B&B requires hour reading)
- they plan to sell the asset in the future (i.e., when the asset has acquired x amount of hours/miles)
Note: Modifying inputs does not change or update the data in the Asset’s Details Page.
Taxonomical Classification values are pre-populated from Boom & Bucket. Choosing a subcategory is optional but may improve the valuation results.
Pro Tip! A chosen taxonomical classification is not important for most heavy yellow/off-road construction equipment. However, for on-road trucks whose OEMs manufacture chassis that can be used in conjunction with a wide array of customizable body configurations, the taxonomized subcategory is going to be critical in narrowing down the returned valuation points so that the estimates are accurate and confidence rating is high .
Sell with Boom & Bucket
Users with an active Boom & Bucket account can seamlessly list the asset on the Boom & Bucket website for sale. Click “Sell w/ Boom & Bucket” button.
This will open the Sell with Boom & Bucket form. Most information will pre-populate from your information and the asset’s information in Tenna.
Pro Tip! Review all of the information to ensure accuracy. Include as much information as possible for a better listing.
Photos are very important to attract buyers! Upload clear, detailed and updated photos.
Once all information has been included, click Send to Boom & Bucket button at the bottom of the form. This will send the form to Boom & Bucket for review before posting.
Important! Once you click “Send to Boom & Bucket”, your organization will need to coordinate directly with Boom & Bucket to un-list, modify asset data, pictures, and any other attributes. Reach out to them via email: [email protected] or phone: 888.313.1597.
Go To Listing
Once the listing form has been completed, the user will see the “Go to Listing” button. Clicking the button will take the user to the Boom & Bucket site to view the listing if it has been successfully published and is live on the Boom & Bucket website. If the listing has not be approved by Boom & Bucket yet, the user may receive an error page when clicking on Go to Listing.
FAQ
Do I have to have a Boom & Bucket account in order to use the integration features?
Users do not need to have a Boom & Bucket account in order to view the data on the Asset Detail Page’s financial tab, like auction or retail values. However, if the user would like to sell the asset through this integration, they will require an active Boom & Bucket account.
How do I know if the Boom & Bucket integration is enabled on my account?
The Boom & Bucket integration license is enabled (turned “on”) for all accounts with no additional purchase from Tenna necessary. You can see if the license is still enabled by going to Settings > Integrations > Industry Resources in Tenna on your desktop computer. It will say “connected” under the Boom & Bucket tile if still enabled. To have the Boom & Bucket integration enabled or disabled, contact your Tenna Rep.
I am getting a “Insufficient Data Returned” error in the Boom & Bucket section on Asset Details. What do I do?
You may receive this error if there are no comparable listings on Boom & Bucket, therefore limiting value data. You may also receive this error if the asset is missing data for make, model, year or miles/hours. Click “Modify Parameters” to make edits to those values and try again.
How do I remove a selected taxonomical classification?
For certain types of equipment, specifically off-road construction pieces, an incorrect Taxonomical Classification may adversely impact valuation results. To undo a selection, the user must re-open the modify parameters modal. Once opened, they should type in a new value or, in the event it needs to be cleared out, select any value, and then hit the “X” to clear it out. This will reset the classification to no value and should return expected results.
