Lately, I’ve had the opportunity to work with several retailers and manufacturer’s organizing their claims data. I’m always surprised how often claims data is incomplete and or disjointed. As a company, we try to educate clients on the importance of collecting and organizing their data to enable us to produce actionable reporting to maximize your return.
Today Warranty Managers need to be enabled with the tools to manage their warranty business and customer needs efficiently, rather than continuing to use “home-grown” software systems and spreadsheets.
Some of the basic functionality should include:
- A web-based solution – including customer and service provider claim submissions
- Flexible business rule management to enable you to evolve and optimize your work flow
- Ability to capture part and labor costs to hone in on key product failure values
- Minimize your Administrative data entry by providing servicer access and capturing claim repair detail
- Collect failure detail from your customers to adjudicate claims and escalate resolution
- Attach images to assist with failure descriptions
- Automate basic warranty reporting to identify the insights needed to get the most out of your warranty program. Such as product claims reporting — model estimated claim frequency and CPU by product category, model, and other factors.
With a new warranty system in place, claims rules, workflow and reporting can be tested by non-IT people and changed quickly when needed.
There are many options of administration support on the market and pricing will vary greatly. However with a modest investment, Warranty Managers should no longer think these tools are only “nice to have.” If you would like to learn more about web-based solutions and how they may fit into your budget, give us a call or request a demo on our web site.