The absolute and complexness of warranty claims can be overwhelming for organizations. This makes fraud-check on claims quite inconvenient. They are addicted to errors and block productivity. Aim to gain maximum automation in the claims processing. Automation in warranty management system comes with number of benefits that we will discuss later.
The Challenge
The organizations incorporate a number of business units, and every unit had varied requirements and ran on multiple endowment systems. Due to the market’s demand, the organization accepted additional responsibilities of spreading its services to various countries. It faced a series of challenges, the warranty and claim of products was the main issue. And this was due to organization lacked a warranty management system, for their products in the market. All this resulted in lack of transparency and also inefficient realization of ROI. The organization needs a robust and comprehensive warranty management solution to standardize the process.
The Solution
After implementing this warranty management system, the whole product data was recorded into the software that helped in faster claims processing. It helped in identification of correct products, online claim request, live tracking and registration of stock. All this was happening automatically. The closed-loop solution transformed data into strategic intelligence, which helped in direct reporting of parts claims and increased communication channels to return part or claim process as soon as possible. It also minimized warranty costs and enhanced business profitability. Also there were many other benefits too:
- Detailed data extraction and validation
- Quick processing of claims
- Single version across manufacturer/dealers, thus improving efficiency
- Increased transparency in the process
The automation of warranty processing begins with claims. This warranty management system permitted customers to submit claims directly from any location. On the other hand, the organization is able to track the claims. Moreover, it allowed OEMs to set rules, to process claims on every product in a unique way.
With this automated system, it is easy to validate claims efficiently. Details across dealers and OEMs can be confirmed in real time. It is also possible to route the claim details according to specific job codes, both within and outside the organization due to the cross-functional integration available in the system. The warranty management system provide secure and limit access facility to secure the data. Also, it tracks suppliers of the parts under claim that speeds up parts-return and supplier recovery, and upholds trust and transparency.
Components of Automatic Warranty Management System
There are various functions and components that are included in this system that make it run smoothly. Today, in an organization warranty management is a separate function of Service Parts Management Wing. Parts Managers are heads of their department and the entire business unit functions as a profit center and cost budget.
Service Parts Management Team
In this team delivery owners function as primary the contact points with the customers. At the 1st level, customer desk is there for customers to register the service request. Technicians and Engineers provide front end support and act as second point contact. Service parts managers overlook the functional operations and take responsibility to answer important calls and also they are answerable for delivery performance.
Warranty Management and Claims Processing System
The entire process is driven by the warranty management system application that generally consists of the following modules:
- Service Warranty Database and Tracker (Database information uploaded from Sales Module)
- Service Request Registration, authorization & Report functions.
- Parts procurement request, part return request, parts issue authorization.
- Return Order Management, Claim Management, Vendor Management etc.
SME Experts
Subject Matter Experts supports the service parts teams into various aspects. They determine the nature of technical support to be assigned to them for service related issue.
Parts Procurement and Logistics
Logistics Service and parts supply management processes are driven by Logistics teams. Parts Procurement and Logistics handling depends upon the size of organization and management structure. It may be controlled by a single department or by separate teams. The teams or department manage part procurement function and warehousing and parts distribution. And the function managed by logistics team involve – Collection of parts, inventory holding of defective parts, parts repair, replacement of in-warranty parts with OEM, Re-Export.
Here is What You Get From Automated Warranty Management:
- An easy handling platform that facilitates and speeds up the claims process makes life easier for dealers and service providers.
- Total automation of various processes that were earlier part of manual like—submission of claim, routing of claim, parts return, supplier recovery, payments—ensures accuracy, reduces the long-drawn paper work, and improves efficiency
- Accurate and reduced warranty payouts result in optimal performance
- Transparency and communication at every step is improved
- The total cost of warranty processing and associated administration comes down
- Issues of warranty claims will be reduced to a minimum
- Parts return and supplier recovery process is very simple and transparent
- Fraud claim can be automatically eliminated
Here at Intellinet, we have built our Warranty product as Warranty management system. We have helped customers, in their businesses and the result is that now Intellinet has a powerful global system that supports all organizations through their products, irrespective of their linguistic and regional differences. Intellinet is successfully fulfilling customer specific demands without charging them extra for the value it is bringing, by easing the operations at work.
Technology can make business processes completely transparent. With global presence of manufacturing units, a solution is required that uses real time data for identifying effective ways of dispatching services and allows the customer to know everything from claim to billing. With Intellinet software this has become easy. Moreover, technological support for such purposes requires integration over cloud: be it for the dealer, the special-parts supplier, the distributor, or the automobile warranty unit. Let’s work together when it’s the right thing to do.
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