Warranty: An Overlooked Key to Service Business Success

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Are warranties being overlooked in terms of their potential contribution to revenue and profit?

According to Warranty Week, customers spend $2 trillion (with a “T”) in warranted product sales on owned assets. Beyond the potential revenue contribution, warranties are also a critical opportunity to enrich channel and customer experience while reducing operational costs. If not managed and administered correctly the result can include:

  • Inefficient and manual claims processing driving up operating expense.
  • Weakened collaboration amongst extended service network (dealers, channel, etc…).
  • Supplier cost recovery challenges (entitlement challenges).
  • Delayed warranty claims processing resulting in poor customer satisfaction (CSAT).
  • Fraudulent claims (a rising concern amongst extended service networks).
  • A diminished perceptive for the original equipment manufacturer.

In this webinar we discuss the impact role warranties (new and/or extended) can play in contributing to superior levels of business and customer success.

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