IDC Analyst logo


    Follow us

    Sign Up for Updates

      2 min read

      Syncron and Mize Join Forces to Bring Service Lifecycle Management Capabilities to Market

      Guest blog by Michael Blumberg, Blumberg Advisory Group

      Syncron, a leading provider of Service Parts Planning, Pricing, and Uptime Management Solutions, has announced a merger with Mize, a leading provider of Field Service Management (FSM) and Warranty Chain Management (WCM) solutions. The merger creates the world’s largest privately-owned provider of Connected Service Experience (CSX) and  Service Lifecycle Management (SLM) solutions for manufacturers, distributors, and service ecosystem partners. The new entity brings together two well-recognized leaders in their respective cloud solutions markets.

      Continue Reading
      2 min read

      Strategies for Reducing Warranty Costs

      Warranty obligations represent both an expense and a liability to Original Equipment Manufacturers (OEMs). As a result, anything that an OEM can do to minimize warranty expenses and liabilities will have a significant impact on the balance sheet and bottom line. In the high-tech industry, warranty coverage often includes repairing defective products as opposed to crediting or replacing them.

      Warranties of this nature involve three (3) cost components: 1) Warranty Terms & Conditions, 2) Service Delivery, and 3) Product Reliability and Maintainability.

      Continue Reading
      2 min read

      5 Opportunities to Increase Extended Service Warranties

      The sale of extended service programs and warranties can be lucrative. It also provides customers with peace of mind and the feeling that we work in their best interest. In those companies who sell these warranties, opportunities to make that connection are often missed.
      Here are five times during the customer service lifecycle where the sale of extended service warranties can be easily promoted: 

      Continue Reading
      3 min read

      Key Factors Driving Revenue Growth in the Field Service Industry

      Given the enormous attention that field service organizations (FSOs) are placing on growing topline service revenue, Blumberg Advisory Group and Giuntini and Company recently partnered to conduct a study among service executive about best practices involved in selling extended warranty and/or extended service programs. A key finding of the survey is that the configuration of extended warranty and extended service programs has a tremendous impact on the sale of these programs.  In other words, the length of coverage, level of customization, processes engaged and resources employed in delivering the warranty, and entitlement levels offered play a key role in driving sales. These findings suggest that the more distinctions a company can make about its service program, as defined through the configuration, the more effective the company will be at getting customers to purchase it.

      Continue Reading
      4 min read

      Extended Service Best Practices to improve Attachment Rates and Renewal Rates

      Recently, Blumberg Advisory Group and Giuntini and Company conducted a study about the Extended Warranty/Extended Service Market.  We looked at various aspects of sales process and specifically evaluated the Warranty Attachment rate (i.e., customers signing up for these programs) and Renewal rate (i.e., customers renewing their agreement during the warranty or at the end of the term)  as they are Key Performance Indicators (KPIs) that measure how successful a company is in marketing and selling extended warranties and extended service programs. Best in class performance would equate to companies achieving an attachment rate of 50% or higher and renewal rates of 75% or better.

      Continue Reading

      Michael R. Blumberg

      Michael Blumberg is President of Blumberg Advisory Group, a leading management consulting firm in the Service & Support Industry. Blumberg is a growth catalyst helping manufacturers, their channel partners, and 3rd Party Service providers power service revenue, market share, and business expansion into previously unchartered territory.