OEConnection (OEC), the leading automotive technology provider for original equipment manufacturers’ (OEM) distribution networks, announced that its MyPriceLink technology will soon generate dynamic list prices for over 40% of all collision parts in the United States, due to Ford Motor Company’s recent announcement that they are adopting the technology. Ford joins General Motors, who began using MyPriceLink in late 2016.
MyPriceLink is designed to help OEMs protect their list price data and enable dynamic pricing strategies with key collision stakeholders, including insurers.
OEC has made significant investments and continuous improvements into the 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 dynamic pricing engine, we’re also investing in Business Intelligence and evaluating ways to enhance pricing analytics to provide added value for our customers.”
Most recently, OEC 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.
With MyPriceLink, OEC has developed a secure, dynamic list price industry delivery standard which has been adopted by all three major estimating platforms in the US, as well as most major dealer management systems, including CDK, DealerTrack and Dominion. The design and development of this industry first proved critical to industry adoption.
“We knew early on that for MyPriceLink to be successful and widely accepted, it had to be transparent to the marketplace. Our team worked hard to ensure 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, we are not only strongly positioned to scale in preparation for additional US manufacturers, but for global OEMs as well,” Lopez added.
OEC currently provides collision parts ordering and pricing solutions in North America to 23 automakers and over 8,200 subscribing dealerships, enabling every collision shop to improve their buying process and take advantage of the best available prices for OE parts.
OEC is in discussions with numerous automakers to deploy MyPriceLink to their global distribution networks.