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
Managing warranty entitlements is vital for manufacturers to gain control of warranty reserves and claims. Entitlement management involves administration, tracking, and enforcement of policies, coverage terms, expiration dates, and claim reimbursements.
Over the last two decades, warranty software has been evolving and one can clearly separate this period into three distinct generations of software. Similar to the way the mobile phones have evolved from 2G, 3G and 4G, 2nd generation of warranty was before 2001, then 3rd generation was predominantly driven by web, now the Next generation of warranty is being led by confluence of mobile, cloud, and IoT technologies.