13 Tips For Optimizing Warranty Management
By Rob George, Hitachi Solutions
Warranty management is an essential component of any profitable service organization. The ability to view, access, and automatically track customer asset warranty coverage and data is essential, and not having this can have adverse business effects, including loss of sales and customer dissatisfaction.
While warranties are important, they can also prove costly. A Warranty Week report stated that U.S.-based companies paid a total of $25.9 billion in claims in 2019. This aligns with the trend for the past 10 years in which U.S.-based providers have spent around $25 billion per year on warranty claims.
Warranties, however, serve an essential function. They are guarantees from a manufacturer or seller about the quality and service of a particular product.
It can be difficult to easily access and manage warranty information. There’s a lot of data, and sometimes field technicians can’t access what they need in the field. You want a solution that’s easy to use, easy to deploy, and can integrate all aspects of warranty management — from automating processing to streamlining claims.
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