Many companies still rely on emails, spreadsheets, or custom warranty systems developed long time ago to manage warranty. These warranty systems are inefficient in managing warranty and inadequate to meet the needs of the business to reduce warranty costs and improve product quality.
Connected Customer Experience
Warranty Managers are faced with a dilemma on deciding the level of automation in claim processing. Automated approvals can lead to more efficiencies, but may result in excess payments from overcharges and even fraudulent claims.
Manufacturing companies are increasingly considering customer experience as a sustainable differentiator and redesigning their business to be more customer-centric. Manufacturers face a different set of challenges in executing their customer experience strategies as compared to service companies with frequent but short interactions. The durable products last for years and the customer service the companies deliver during the own cycle is more critical to build customer loyalty and maximize customer lifetime value.
- Knowing who your customers are, understanding how customers use your products, and being there when customers need help
- Making it easier to do business with you, implementing customer-centric processes, and eliminating frictions and gaps in the customer interactions
- Improving customer satisfaction, retaining more of your customers for long term and maximizing the customer lifetime value of the loyal customer base
- Supporting customers across all channels, devices, and screens, bridging the silos of knowledge, applications, and systems, and connecting all service interactions throughout the customer lifecycle
We look at five ways Connected Customer Experience enables you to build a sustainable competitive advantage and maximize customer lifetime value.
A Service Technician can affect your Warranty costs more than you think. The decisions and actions by a Service Technician (Tech) have a very significant impact the cost of warranty repairs. To reduce warranty costs, warranty and Service departments need to pay more attention to enabling the Tech to make right decisions, capture accurate information, and perform the repairs efficiently.
Product OEMs and Parts suppliers agree that more collaboration is needed to reduce warranty costs and improve quality. These five key factors can help to enhance communication and collaboration between OEMs and their suppliers: