What is Partsave?
Partsave is a unique proposition developed by Vamco to improve control over vehicle accident damage repair and reduce costs.
Partsave is available as a stand-alone service, but to derive maximum benefit and efficiency should be combined with other Vamco services.
BackgroundReplacement parts (body panels, headlights, bumpers, etc) comprise over 40% of vehicle damage repair costs. The accident damage repair market is estimated conservatively at £5 billion per annum. The cost of parts therefore amounts to a minimum of £2 billion per annum.
Over 90% of repair charges are under the control of commercial entities such as insurance companies and fleet operators (paymasters).
Repair paymasters have little control over the usage of parts, because the task of ordering and reinvoicing is delegated to the bodyshop carrying out the repair.
Paymasters therefore forgo the potential cost benefits of their purchasing power.
Partsave offers a solution to this problem, and aligns the repair industry to common practice in other large commercial markets. Vamco has established a network of repairers and parts suppliers (dealerships) to repair vehicles and supply the necessary parts.
“Free of charge”
In essence, Partsave enables the repair paymaster to issue replacement parts to bodyshops on a “free of charge” basis.
The processes currently employed to estimate and assess damage remain unchanged. The repair process is managed by Vamco, and the control of delivery notes, payment for parts is managed by Vamco through the Partsave hub. Vamco consolidates the final repair invoice for settlement by the repair paymaster.
Vamco has completed and tested the in-house software necessary to operate the Partsave service. The process has been designed to simplify and reduce the administrative burden of validating repair costs currently incurred by paymasters.
Lower repair costs through improved discounts on purchased parts
Reduced administrative overhead
Virtual elimination of parts fraud
Enhanced visibility of the repair process
Protection against end-user negligence claims
Protection of residual values