Pssst………automate it, automate it, automate it
Warranties are service contracts that let your customers know you have full confidence in your product or service.
It is a performance guarantee for the product/service given by the manufacturer for a certain period of time.
Warranties give customers peace of mind in knowing that the product/service purchased by them is protected from particular damages or accidents for a certain period of time.
The growth of online commerce has given way to more and more customers opting for products with warranties to protect their purchases.
Since warranties are so important for an enhanced customer experience, it’s imperative that you have a strong warranty policy.
This is especially true for online commerce since there are a lot more returns and Warranty requests in this form of the marketplace.
Your customer, in an online marketplace, has to take your word at face value about your product or service.
They cannot hold the product in their hands and check it like in a conventional physical marketplace.
Customers will base their purchase decisions on your word and customer reviews.
So it goes without saying that it’s very important you provide your customers a hassle-free warranty experience to gain their loyalty and trust.
Warranty management solution
Organizations are slowly finding out that manual Warranty management solutions are becoming redundant.
Traditional Warranty management solutions aren’t equipped to handle new business processes. They are usually cobbled together over time and consist of obsolete and disparate systems.
These Warranty management solutions are a drain on your organization’s resources and revenues.
Problems that emerge from unproductive and revenue-draining Warranty management solutions are serious issues that can’t be left unnoticed.
Fraudulent claims can be a huge drain on your revenues. Customer loyalty and retention can go for a toss due to their warranty issues not getting resolved.
In the long run, haphazardly put together Warranty management solutions can do irreparable and lasting damage to the company’s image and bottom line.
When you finally decide to automate Warranty management solutions for your organization, these are 13 best practices that you should follow to streamline your business process, enhance customer experience and fatten your bottom line.
13 best practices for an optimized Warranty management solution:
1. Rethink your Warranty management solutions
Before you implement a new system it’s important that you know where you stand with the system that is currently in use.
Is your warranty system easy to use, are you able to measure its effectiveness, and what is the level of its automation?
These are some of the things you should take a look at in your current system.
2. Make it a company philosophy to integrate Warranty management solutions into your work culture
Encourage employees of all levels in your company to embrace Warranty management solutions.
Show them the benefits of optimized Warranty management solutions and ask them for feedback and suggestions to improve upon the system.
3. Automate and improve your Warranty management data
Once you know what your current Warranty management solution is capable of doing you can tweak it to streamline and consolidate data or revamp the whole warranty system.
4. Automate agreement generation
While you’re optimizing your Warranty management solutions you can also set up the system to automatically generate warranty agreements on the basis of a rule-based system.
5. Automate warranty generation processes
Automating your warranty registration process is also a good idea as it improves the data quality and will help with future warranty requests and their conclusions.
6. Integrate mobile systems for your field service technicians
Try to invest in a fully integrated mobile Warranty management solution. This will be very helpful for your field service technicians.
Since they are the ones who will work directly with your customers it makes sense for them to be able to access customer information and warranty data on the fly.
This will lead to a more enhanced and personalized level of service which can only leave the customer impressed.
7. Automate warranty expiration and renewals
Automating the warranty expiration and renewal process will help in automatically reminding your customers about their warranty expirations and renewals.
If this process is integrated with your mobile system, your field technician will also know if the service provided is to be billed or under warranty.
8. Confirm the skills and certifications of your service employees
In most cases of a warranty request, your company will be reimbursed only when a certified technician does the job.
An automated Warranty management solution will have a well-documented database of your customers and the skill set and certification needed to service them.
9. Streamline your warranty claims process
Automating your warranty claims process helps in minimizing delayed, denied and reduced claims.
Automatically generated quality data with inputs from field technicians and the claims department will help in resolving warranty requests quickly and easily.
10. Choose the right Warranty management solution
Choose a Warranty management solution that caters to your needs. It could be a fully customized solution or a simple out-of-the-box solution.
11. Choose a Warranty management solution with analytics
If you’re revamping your entire system trying to get a system that has analytical tools and AI-based automated processes.
These tools can benefit your business in the long run.
12. Customer self-care
Allowing customers to input their own warranty data and information through customer portals, and phone and tablet apps is also an effective way to optimize your Warranty management solution as it decreases the need to unnecessarily contact the customer and pester him for details.
13. Offer Supplemental warranties and extensions
Offer customers warranties that go above and beyond what the manufacturer is offering.
These supplemental warranties might be more in line with what the customer is looking for.
Offering these customer-centric warranties will lead to a happy customer experience and a happy you.
Benefits of automating your Warranty management solution
The benefits of an automated Warranty management solution are listed below:
- Saves time and money
Manually entering a warranty request is a tedious task that is laborious and time-consuming.
This will only get more labor-intensive and expensive as your company grows.
On top of that, you’ll also have to deal with customer communications, track data on a spreadsheet and handle logistics.
An automated system will do all these processes leaving you with more time and resources to focus on your customers.
- Boosts customer experience
An automated system makes invoicing a breeze. A warranty request can be quickly processed due to customer data being accessible to your service team in an instant. This hassle-free quick processing will keep the customer happy and satisfied.
- Only legitimate requests are entertained
An automated Warranty management solution minimizes fraudulent transactions as it allows you to get proof of purchase from the customer in the form of their original receipt.
- Faster resolve rates
Automating your Warranty management solution makes it faster to resolve individual warranty requests at a faster rate.
So, the best way to optimize and manage your warranty requests is to automate the process.
Kapture can help you integrate custom modules into your business processes to help you with automating your Warranty management solutions.
To know more, Click here.
About the Author
|Elvis Richard Cormuz|
|Elvis hails from Darjeeling and has had vibrant work life experiences – a musician, social worker and freelance translator/transcriber, his hobbies include music, movies and reading.|