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How do Automobile Manufacturers Turn Warranty into Revenue Generators Rather Than Cost Centers?

The Warranty Problem

One of the major problems of vehicle manufacturers is to process warranty claims quickly and efficiently. Plenty of customer goodwill depends on this. Therefore, it is sensible for the manufacturer to streamline the warranty claims process. The days of manual processing of claims are gone because expenses incurred as processing costs as well as the prolonged waiting times end up in total dissatisfaction of customers and dealers. What is necessary, therefore, is a warranty management solution that is sensitive to the needs of the customer. The customer needs quick settlement of warranty claim and the manufacturer has to make this possible.

The CRM Factor

CRM or Customer Relationship Management is the term that encompasses all forms of interactions with the customer valid during the course of the entire customer lifecycle. The intent, of course, is ultimately to bring about a qualitative improvement in the business relationship with the customer. CRM therefore includes all types of practices and strategies besides technologies necessary for the management and analysis of the interactions with the customer. This would encompass all forms of communication between the company and the customer such as live chats and on the website, telephone calls and email or the social media. It may also involve the customer’s purchase preferences, prior purchase history and other personal information. The CRM software is a great help for the manufacturer to keep a track of all customers. It’s a great marketing and sales tool. Help is taken of the cloud for the successful function of this software.

Warranty Management

The CRM platform is the place where the warranty management solution is parked. On-demand warranty is made available on the Salesforce Cloud. The solution ensures the optimization of both effort and cost over the entire lifecycle. One of the most reputed warranty management software solutions is from Tavant, and it is the only solution in its genre on Force.com platform. Since there is no need to invest heavily in either the resources or the infrastructure, this becomes a perfect warranty solution to implement.

The Advantages of On-Demand Warranty

The biggest advantage of on-demand warranty management solution is that vehicle manufacturers can turn this into a revenue generator.

  • The on-demand warranty offers the benefit of an agile setup that does not need any IT support but is available round the clock.
  • It is flexible as well. The solution offers a significant cost advantage since the flexibility allows you to pay for only the modules you require.
  • As mentioned earlier, there is total seamless integration with Force.com in order to enable perfect customer service.
  • The solution gives you scalability too as you can either add or remove users according to your need.
  • It is also possible for you to ensure a constant improvement in the system by a regular up gradation without having to make increased investment.
  • This is the perfect solution that does away with all fraudulent claims including claims made outside warranty clauses.
  • Perfect customer satisfaction is assured since the claims are settled in the shortest possible processing time.
  • There is no need to maintain a large inventory of spare parts due to improved processes.
  • It is also possible for you to enforce an improvement in risk control. This is owing to an improvement in the assessment of failure data as well as the improved performance of the concerned dealer.

Finally, it is now possible for you to keep your dealers also happy.

Author Bio:

Preethi Vagadia is currently a Senior Business architect with the Service operations practice at a well-known IT Industry in Bangalore. She has worked in several process improvement projects involving multi-national teams for global customers. She has over 8 years of experience in mortgage technology and has successfully executed several projects in logistics management, logistics integration, reverse logistics, campaign management solution, warranty software and programmatic solutions.

 

Tags: warranty management business process warranty management software solutions

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