Collecting market data for your parts offering can be a monumental task, and maintaining high accuracy can prove difficult with the number of parts, number of competitors, and regional pricing.
Now, with our PRICERADAR tool, OEMs have quick and easy access to accurate data for the prices and lead times currently on the market for every part in their portfolio.
Fully understanding new software platforms before integrating them into your organization is extremely important. Additionally, it is crucial that all individuals involved in your company's spare parts pricing see the whole value of a new tool and how to best leverage it in daily operations.
If you have further questions, feel free to review our PRICERADAR: Onboarding Guide. We've helped OEMs make more than $200MM in additional revenue, and we think ROI can happen in just 60 days by following our step-by-step onboarding.
When uploading your parts to PRICERADAR, they do not need to be submitted altogether, you can split it up how you see fit for your organization.
You can use this tool to get access to market data for any kind of purchased parts. These are parts that you are buying from third-party suppliers to resell to your customers. Examples include electronic components, filters, drives, control valves, cylinders, bearings, etc.
Market intelligence is most effective for your purchased parts due to the ease for your customers to compare prices and lead times when shopping around.
Our tool mirrors the purchasing process of your customers - collecting information from a variety of different sources. These include all relevant part manufacturers, competitors, dealers, online platforms, marketplaces, and eCommerce storefronts.
The data on the platform is updated on a quarterly basis.
For the Essential plan, parts that are kept in the system will be updated once a quarter but can also be replaced by other parts after the first quarter. For the Advanced plan, market data for each part updates on a recurring, quarterly schedule to measure market changes.
PRICERADAR uses multiple technologies, including:
Data exports from PRICERADAR are easy to integrate into any common ERP system or pricing tool.
Our customers appreciate that there is no IT implementation of any sort required.
The Essential plan comes with a 1-quarter (3-month) commitment, while the Advanced plan (which includes quarterly updates) comes with a 1-year (12-month) commitment.
There is no additional contract commitment beyond these terms for both plans.
Data privacy is built into our Terms of Service which are part of the quote that we will send once we know your preferred plan option and the number of parts.
We are always happy to review and sign an additional NDA if required by your organization.