Modernizing Warranty Management Systems

Modernizing Warranty Management Systems: IT Department’s Role in Building a Streamlined Service Lifecycle As manufacturers focus on the benefits of modernization and the competitive advantage it creates, the IT department has gained an increasingly important seat at the table when it comes to the organization’s strategy and direction. If anyone is focused on the digital […]

SHARE THIS POST

Best Practices to Automate Warranty Claims Processing

Automate Warranty Claims Processing Warranty Managers are faced with a dilemma on deciding the level of automation in claim processing. Automated approvals can lead to more efficiencies, but may result in excess payments from overcharges and even fraudulent claims. The benefits of automated claims adjudications are: Cost savings from less staff required for manual review of claims […]

SHARE THIS POST

Service Lifecycle Management Stabilizes Warranty Management in a Highly Volatile Automotive Market

Service Lifecycle Management Stabilizes Warranty Management The last 18 months have been challenging for most industries, and the automotive industry has been particularly hard hit. A shortage of semiconductors and supply chain chaos led to several manufacturers halting production, while others scaled back and waited for the proverbial dust to settle. McKinsey reports that the […]

SHARE THIS POST

5 Key Warranty Metrics Every Warranty Manager Should Know

In addition to the total number of claims and warranty costs, these five key warranty metrics help warranty managers to drive performance and product quality. CPU – Warranty Cost Per Unit: Total warranty cost / # of units. CPU is the average cost during the warranty coverage period. CPU is a key metric to determine the warranty […]

SHARE THIS POST

Service Lifecycle Management 101

Service Lifecycle Management Aligning People, Processes, and Technology to Improve Post-Sale Durable Goods Customer Experiences and Revenue Aftermarket has taken a backseat to other company-wide digitization initiatives for durable goods manufacturers for far too long. While we collectively recognize the value of post-sale revenue, it has been difficult—and nearly impossible—to align the people, processes, and […]

SHARE THIS POST

3 Ways Depot Repair Management Can Help Manufacturers of Consumer Durables Build Strong Customer Relationships

Depot Repair Management: How It Help Manufacturers Build Customer Relationships Repairs are frustrating but a necessary evil in the consumer durables manufacturing world. When a customer’s product requires repair, they expect it done quickly and efficiently—anything less can negatively affect the customer experience and lead to a higher churn rate. Depot Repair Management (DRM) software provides […]

SHARE THIS POST

The Best Way to Utilize Warranty Management to Ensure Recurring Revenue Streams

Warranty Management: Ensuring Recurring Revenue Streams Recent Study Indicates Utilization of Warranty Management Strategy Ensures Recurring Revenue Streams Strategies For GrowthSM (SFGSM) recently announced survey findings indicating positive signals for the expanding Warranty Chain Management market – customer-centric market factors drive organizations to improve existing levels of warranty management performance. After conducting its sixth annual Warranty Chain […]

SHARE THIS POST

How to Increase Product Registration Rates with 6 Best Practices

Best Practices For Increasing Product Registration Rates Manufacturers typically don’t have direct interaction with end customers as they mainly rely on mass media to market and channel partners to sell and service their products. Brands now need to engage and deliver better customer experiences throughout the lifecycle to acquire and retain today’s increasingly connected, mobile […]

SHARE THIS POST

IoT Product Data, Warranty Management, and Field Service Optimization

For OEMs collecting IoT-connected product information, the benefit is in its actionable utilization. How you manage it becomes crucial – having the ability to build a Connected Customer Experience and incorporate proactive Service team interaction – ultimately maximizing Warranty Management profitability. To the issue of information management, disparate systems can get in the way of […]

SHARE THIS POST

5 Tips to a Better Customer Warranty Self-Service Portal

Customer Warranty Self-Service Portals Manufacturers often face excessively high labor costs associated with processing warranty claims. At issue, there are often numerous touchpoints involved in supporting warranty claims. The burden on your company starts from the moment the customer purchases a product. Resources are required to register the product warranty, respond to service requests and […]

SHARE THIS POST