Extended Warranty Software: Tool For Saving OEMs Revenue
by Intellinet Jun 21, 2019
Warranty claims costs a lot to the customers if expired. If an OEM is successful in offering a successful solution to customer about saving claim money, it will have a huge impact on customers. Along with these cost, there are some other cost involved that allows parts defect to be undetected.
Due to all this, customer may feel risk, and that could have a negative impact on the brand image of OEM. OEMs need an extended warranty management system to save money of customer and build a good will brand image in the market. Extended warranty management will be important tool for accomplishing marketing goals for OEMs.
Extended warranty analytics is not only for data scientists. A successful strategy requires not only the right analysis techniques but that can enable data collection and linking of databases across departments. Thus, as a manager, you should understand three things: the benefits extended warranty can bring, what is necessary to enable the successful implement extended warranty, and what extended warranty can do.
Extended warranties offer financial assistance for parts repairs that occurs due to mechanical breakdown. These warranties, or say contract, continue to cover a specific part or assembly. Extended warranties may also include additional services like 24/7 roadside assistance and trip interruption reimbursement, but that depends upon OEMs.
Although, these features are bonus, the real functionality is to save customer from extra expenses that occurs due to part out of warranty. As, if the warranty of a specific part is void, then there will be no coverage.
For example, John is a warranty manager at a big OEM. He has been asked to develop a more robust extended warranty system for their products. John must consider the following aspects:
What kind of
system is needed to be setup?
How much could be
held in warranty reserves?
What kinds of
extended warranties can be offered?
related frauds can be detected?
What kind of analyses
needed to run regularly?
If you are an OEM, then you must ask yourself-
Do you handle warranty management process perfectly? Do you offer the right extended warranty solution to customers? Are you collecting the right kinds of data from customers? Are you confident that you are doing everything perfect to make customer satisfied?
If your answer is no, then Intellinet extended warranty management system is for you only. It will introduce you to extended warranty platform and provide a solid foundation to take your warranty management strategy to the next level.
Intellinet extended warranty provides you the option to customize the whole system according to your business needs and requirements. But all the customization will be applicable according to parts manufacturing date, make and model of part, etc.
It is worth noting that in many cases you will be required to provide servicing information. With extended warranty management, OEMs will have a digitized of the parts under extended warranty, then if any parts warranty is going to expire, OEM can notify them through SMS or email before the times run out. This will surely result in a positive way as consumers will be impressed by the good will gesture of the OEM.
And, for OEMs it is necessary to always be sure to make proper research before selecting the best extended warranty software for their organization, as there are many players available in the market. But choose the best that suits your requirements.
For more details, get in touch with our experienced team today at www.intellinetsystem.com for a bespoke extended warranty.