How OEMs Can Maintain Customer Relationship With Warranty Management?
by Intellinet May 31, 2019
Original Equipment Manufacturers (OEMs), equipped with the latest and advanced technology, help in enhancing customer journey and product quality. It said one of the top priorities for OEMs is to improve customer satisfaction, after which comes the objective of managing costs, warranty management, product quality and increasing revenue.
But how can OEMs be equipped with the advanced technology to meet these objectives? A warranty management approach can be the solution for these OEMs.
If a warranty solution can record product history, it becomes easy to track the product history throughout its life cycle. With this data, OEMs and dealers can gain valuable insight about the product life cycle, which in turn provides insight for improvement and claim processing. That is why OEMs, nowadays, are looking at warranty solutions with a tactical viewpoint.
To achieve pre defined objectives, OEMs need to upgrade their existing work process with integrated warranty systems, which use advanced analytics services to churn warranty data into meaningful information. Such information helps the OEM to improve its service offerings. With real-time analytics in place, OEMs can gain substantial productivity, increase operational efficiency, and retain customers.
A large automotive OEMs face challenges with equipment warranty services and parts logistics system. They are not able to satisfy customers with the quality of spare parts and hence, there are frequent customer complaints. Additionally, as compared to competitors the response time is high.
The OEMs are unable to achieve the Key Performance Indicators (KPI) for equipment warranty and service parts. The biggest blow is that both, dealers and customers are not happy with the process lapse. Due to this customers may turn to competitors.
With immediate effect, the OEM needs to incorporate a warranty claim management system. It will help in streamlining the process and establish a communication channels to ensure that warranty KPIs are fulfilled. Furthermore, the system will trace products warranty throughout their lifecycles and provided key insights to assess supplier performance throughout the supply chain. Moreover, it will help OEM capture the service time taken by each of the dealers, thereby keeping a check on the service turnaround time. It is capable to generate an effective internal process and help immensely in managing and engaging authorized dealers and customers.
Less customer complaints
Instant response to customers
Perfect Customer Engagement
Reduced costs &
Less turnaround time
Increase brand credibility
Warranty will play an important role in building brand reliability. As customer expectations are at an all-time high, the conventional warranty management approach fails to address all complexities existent in the warranty ecosystem. In such scenario OEMs have to deal with the pressure of increasing service profitability and reducing customer costs. Also, they need to differentiate genuine from fraudulent warranty claims, reduce delays in claim processing, and ensure customer satisfaction. So, it’s the best choice for them to deploy a warranty claim management system.
If you wish to know more or have any query regarding the software, connect with us at www.intellinetsystem.com