OEConnection, the leading automotive technology provider for original equipment manufacturers’ (OEM) distribution networks, has announced the issuance of U.S. Patent No. 9,747,481.
This patent relates to MyPriceLink, a service which delivers real-time dynamic list pricing on original equipment (OE) collision parts based on timing and local market conditions.
“OEC continues to lead the way in pioneering new technologies that are revolutionizing the auto parts industry,” said Chuck Rotuno, OEC Chairman & CEO.
“In 2001, we pioneered on-line collision parts procurement through our CollisionLink solution; in 2007, we introduced web-based parts conquesting technology through our Parts Marketing Administration (PMA) solution; and now we are providing real-time, dynamic list pricing through MyPriceLink. The combination of CollisionLink, PMA and MyPriceLink makes for a very comprehensive parts strategy for automakers.”
OEC currently provides CollisionLink and PMA to 23 OEMs, 8,000 dealers and nearly 20,000 collision repair shops in the U.S. and Canada, who use these solutions to complete nearly 400,000 transactions each month.
Launched in December 2015, MyPriceLink currently fulfills 125 million pricing requests every day with an average response time of less than 0.5 seconds. MyPriceLink integrates with numerous collision estimating systems and dealer management systems and is accessible through CollisionLink (for participating dealers), CollisionLink Insurance, CollisionLink Shop, or directly through participating collision-estimating systems.
“MyPriceLink is set to transform the industry,” added Bill Lopez, OEC Vice President & General Manager, Collision, “GM is currently using MyPriceLink to great affect and it won’t be long before every automaker makes using MyPriceLink standard operating procedure to more accurately and reliably present their parts pricing.”
Several additional patent applications for MyPriceLink features are pending and expected to issue in the near future.