OEConnection recently announced that its MyPriceLink technology will soon generate dynamic list prices for over 40 percent of all collision parts in the U.S.
The news comes as Ford Motor Company said it would be adopting the technology. Ford has now joined General Motors, which has been using MyPriceLink since 2016.
MyPriceLink is designed to help OEMs protect their list price data and enable pricing strategies with key collision stakeholders, including insurers.
OEC says it has made significant investments and improvements into MyPriceLink technology.
“We are constantly looking at new ways to bring innovation to dynamic pricing on behalf of our OEM customers,” said Kathy Golden, Chief Technology Officer at OEC. “We currently hold five patents on MyPriceLink technology, with three additional patents pending. But not only are we reviewing how to enhance our pricing engine, we’re also investing in Business Intelligence and evaluating ways to enhance pricing analytics to provide added value for our customers.”
OEC recently announced that it had consolidated its technology to adopt global multicloud. “This investment allows for further OEM adoption in the US, but moreover, seamless global expansion—all while maintaining world-class service level agreements in availability and performance,” added Golden.
Through MyPriceLink, OEC has been able to develop a secure list price industry delivery standard which has been adopted by all three major estimating platforms as well as most major dealer management systems, including CDK, DealerTrack and Dominion.
“We knew early on that for MyPriceLink to be successful and widely accepted, it had to be transparent to the marketplace. We worked very hard to make sure pricing was dynamically calculated and delivered with zero interruption to the buying process,” said Bill Lopez, OEC General Manager, Collision. “With the announcement of Ford adopting the MyPriceLink technology and our transition to a global multicloud technology platform, OEC is strongly positioned to offer MyPriceLink to additional US manufacturers, as well as expand its reach to global OEMs,” Lopez added.