- January 8, 2019
- Posted by: Salih Tahir
- Category: Partners
PartsTrader is an online marketplace that provides a single source for parts procurement from leading OEM dealers, parts recyclers and alternative parts suppliers. It’s very simple – having suppliers compete generates savings for buyers.
Parts currently comprise 46% of repair costs and part costs continue to increase with every technology advancement. PartsTrader brings a technology solution that adds transparency to collision parts procurement. By creating a marketplace where no supplier has a hidden advantage, repair shops can easily receive quotes from multiple suppliers representing all part types.
The PartsTrader network of over 10,000 suppliers helps repairers find cost savings and generate competition tension among suppliers. This tension incentivizes suppliers to compete for business, allowing them to grow market share through larger orders and accessing new customers in a cost-effective manner.
Repairers can obtain greater margins when working with competitive suppliers and easily be compliant with insurance direct repair program requirements. Repairers have reported increasing margins between 5 -10% per estimate that goes directly to the bottom line. Both supplier and repairer benefit from greater data accuracy and reduced part return rates.