UCC partners with ScrapRight on pricing feature

Greenville, South Carolina-based United Catalyst Corp. (UCC) has partnered with recycling software provider ScrapRight to create the United Ecosystem (UE) BidTool, a converter and scrap pricing tool that UCC says is changing the landscape of vehicle purchasing.

“Through this collaboration, more than 600 scrap yards and their thousands of sellers will have access to this new technology," UCC says.

The UE BidTool allows users to insert a vehicle identification number or select a year, make, model and engine configuration, and the system will return the total number of catalytic converters on that car, the identities of those converters, pictures, and pricing for each converter based on live platinum metal group market prices.

Current car bidding software allows buyers to know about 60 percent of the value of auto parts on the end-of-life vehicles with the largest unknown being the catalytic converters, UCC says, adding that the UE BidTool is the first-of-its-kind product that can fully bridge the knowledge gap between an auto recycler and their catalytic converter inventory.

UCC says the UE BidTool will give automotive and scrap recyclers a competitive advantage and reduces their risk by revealing the number and value of each catalytic converter on a vehicle.

“One North American scrap metal company estimates it is losing $50 million a year in its car buying program without this data, while another leading company is reporting a 66 percent increase in car buying by using the UE BidTool the past four months," the companies say.

The two companies say the accuracy, coverage and quality of the technology “is unrivaled and is very difficult to reproduce.”

The UE BidTool is the first module in a planned expanded United Ecosystem.

Another aspect of the partnership between UCC and ScrapRight will allow scrap yards to save time and resources by offloading the administrative burden of managing payouts, including the complexities of handling unclaimed property, according to the companies.