Warranty Management Software

Warranty Management Software:

Warranty Management Software is a software that is used by manufacturers, distributors, dealers, suppliers, and customers to reduce costs and increase visibility to product quality issues.

Features and Benefits of Warranty Management Software:

The Warranty Management Software has several features that can benefit the user in many ways to grow their business. Some of these include:

• The effectiveness and efficiency of all warranty processes can be improved by simplifying and automating product registrations, service plans, warranty claims, returns, supplier recovery and service campaigns.
• Warranty costs can be reduced by applying warranty policies and terms, increasing supplier recovery, and improving service operations.
• Customer retention can be increased and service plan sales can be enhanced by delivering a better value and differentiated customer experience.
• Product quality can be improved through actionable insights with warranty reporting and analysis which can also reduce detection to correction cycle time of any product defects.
• Collaboration can be enhanced with all stakeholders, including Quality, Manufacturing, Engineering, and Suppliers
• Warranty processing costs can be reduced by streamlining processes, eliminating duplicate data entry, and automating claim adjudication.
• Claims processing cycle time can be decresed, and supplier recovery can be increased to 40 to 60 percent of total warranty cost.
• Total Cost of Ownership (TCO) can be decreased with an easy-to-implement solution powered by scalable cloud architecture.
• Service plan sales can be increased while improving the overall customer experience.
• Faster processing can be ensured by validating claims data and allowing richer content to be captured.
• Dealer satisfaction can be improved with faster and accurate warranty payments and performance analytics
• Warranty data quality and integrity can be improved by validating all claim aspects with extensive business rules and incorporating data feeds directly from mobile and diagnostic devices into claim forms.
• Product registration rate can be increased by simplifying the registration process and adding value to the customers.
• Products, customers, and warranty entitlements can be managed and tracked, customer onboarding experience can be elevated, additional revenue and profits can be generated from accessories, parts, services and service plans.
• Customers can be informed on service campaigns, product knowledge, and upgrades.
• Service plans can be managed to deliver value-added services and programs beyond standard warranties. Customer experience can be differentiated and customer satisfaction can be improveed by building long-term relationships across all channels, including retail, web, mobile and social media.
• Plan attach and renewal rates can be increased, customer retention and loyalty can be improved, sales and profitability of service plans can be increased, deeper customer and product insights can be enabled.
• All types of claims can be streamlined and automated with extensive business rules to validate claim data.
• Service providers can upload, enter, submit, and check the status of claims online very easily. Claim costs can be managed and controlled by enforcing compliance with warranty policies, entitlements, failure coding, authorized parts, and standard repair times.
• Warranty costs can be controlled with extensive checks and validations, attachments, videos, diagnostics and communication can be captured.
• Collaboration can be improved to reduce warranty costs and improve product quality by sharing supplier warranty claims in real-time.
• Warranty cost recovery can be increased, product quality and supplier performance can be drived, supplier warranty cost can be managed effectively and real-time visibility to warranty failures can be provided.
• The entire product recall process can be streamlined to limit financial risk, retain customers and protect brand reputation.
• The service campaigns can be managed from initiation to closure, including performance tracking, customer notifications and compliance reporting.
• Recalls can be managed efficiently and cost effectively, the accuracy and integrity of claim data can be enhanced, productivity and efficiency can be improved with Claim process automation.
• Easy access can be provided to warranty dashboards and reports to all stakeholders, including Warranty, Quality, Engineering, Finance, and Suppliers, to track and improve warranty performance metrics.
• Standard reports for warranty reserves, regulatory compliance, failure analysis and supplier quality can be generate and share.
• Actionable insights can be gained to reduce warranty costs, a centralized and trusted source of warranty metrics can be provided, time and cost can be saved in creating ad hoc reports.