PPG Industries’ (PPG - Analyst Report) PAINTMANAGER software, coming from its automotive refinish business, is a network-capable color management system specially designed for managers and technicians to help them manage the quality, productivity and profitability of their refinish paint mixing operations. This system is now updated with Internet connectivity to combine the accuracy and efficiency of computerized color formula retrieval with comprehensive reporting and tracking features.
Shares of PPG Industries gained 0.7% in the trading session and eventually closed at $197.26 on Apr 2.
Apart from offering updated color formulas and program enhancements, PAINTMANAGER software is preferred as it makes it easier for its paint shop operations to stay on top, while keeping track of the latest original equipment manufacturer (OEM) color formulas, products and pricing. These unique capabilities of the PAINTMANAGER software are discovered and appreciated by more than 10,000 customers globally, including collision centers, distributors and dealerships.
PAINTMANAGER software will be beneficial for technicians as it offers the ability to quickly locate a vehicle color. This software will also cater to the needs of collision center owners and managers as it provides more than 40 reports that monitor paint operation job costs, material usage, mixing efficiency, inventory and much more. In this way, the collision center can trace all paint and materials against each repair order, making it easier to evaluate product usage and financial performance.
Another specialty of this software is that it downloads monthly color formula updates to a customer’s computer, wiping out the requirement of time-consuming CD installation and making it easier to keep up with critical information. This software has provisions to select day and time of download to avoid interference with shop operations.
The PAINTMANAGER software holds a two-way communication interface with PPG, which acts as a help desk specialist that can remotely access the mixing room computer and can also provide real-time technical support. This software interfaces smoothly with the innovative RAPIDMATCH X-5 spectrophotometer from PPG.
PPG downloads the user’s mix information when it is sent through the PAINTMANAGER software. The filtered information mainly focuses on the data related to color selection (variant or special) as well as product usage. The data collected helps PPG Industries in the evaluation of variant popularity for future color chip tool production.
The PAINTMANAGER software is readily adaptable with PPG Industries’ TOUCHMIX computerized paint mixing hardware to retrieve the right formula quickly and mix the color accurately. This dynamic combination enhances efficiency and profitability by minimizing waste and the time required for remixes.
PPG Industries currently carries a Zacks Rank #2 (Buy).
Other companies in the chemical industry worth considering include Methanex Corp. (MEOH - Analyst Report), Olin Corp. (OLN - Snapshot Report) and The Dow Chemical Co. (DOW - Analyst Report), all of which carry a Zacks Rank #2 (Buy).