The U.S. Patent and Trademark Office has issued a patent for OEConnection’s MyPriceLink service, the company announced.
MyPriceLink delivers real-time list pricing on OE collision parts based on timing and local market conditions, according to Cleveland-based OEConnection (OEC).
“OEC continues to lead the way in pioneering new technologies that are revolutionizing the auto parts industry,” said Chuck Rotuno, OEC chairman and CEO. “In 2001, we pioneered online 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 United States and Canada, which use the solutions to complete nearly 400,000 transactions each month, according to the company.
Launched in December 2015, MyPriceLink fulfills 125 million pricing requests every day with an average response time of under half a second, according to OEC.
“MyPriceLink is set to transform the industry,” added Bill Lopez, OEC vice president and 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.”
OEC said it has several additional pending patent applications for MyPriceLink features.