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      Warranty Insights

      2 min read

      8 Strategies to control the cost of shipping warranty related returns

      WSJ article on annual logistics report finds:

      • Costs for freight have risen steeply since the middle of last year because of rising interest rates, higher price of fuel, and driver capacity constraints
      • Average freight rate per mile have risen between 20% and 30% so far this year

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      9 min read

      Warranty Fraud Management Book

      Although technology - connectivity, analytics, sensors - has changed a lot and enabled OEMs to implement much tighter controls and detect fraudulent behavior, the general picture looks quite unchanged and warranty fraud continues to be a challenge.

      The strategic importance of warranty management has increased and the general maturity of the warranty profession in the industry has improved during the past 15 years. However, the battle against warranty fraud continues to be a challenge for many warranty professionals.


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      7 min read

      See the forest and the trees – using analytics to detect warranty fraud

      Is warranty fraud an issue for us or not?

      In our earlier blogs (The Dark Side of Warranty Management, What is needed to control warranty costs and prevent fraud?) we have referred to multiple client cases and several research studies, estimating fraudulent warranty claims to occupy up to 15 percent of the average company's warranty costs. However, averages are averages. Do you know the real situation in your company? In many cases we hear, that “warranty fraud is a major issue, but not for our company” or with slightly more awareness “we have a feeling there may be something wrong, but we don’t know the scale of the problem”. In any company with a large number (tens, hundreds or even thousands) of customers or service agents, a certain proportion of them will try fraud and some of them will do it in an excessive manner. Analytics, if done right, can be very impactful in getting the picture of the situation, either by uncovering anomalies, suspicious behavior and direct malpractice or giving confidence, that the situation is under control.


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      3 min read

      5 Ways to Improve Warranty Communications

      When processing warranty claims, Warranty Processors and Service Providers resort to Emails, Phone calls, and even Fax to exchange information about the Claims. Streamlining the communications and data exchange benefits all stakeholders:


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      2 min read

      Best Practices to Increase Service Contract Renewal Rates

      Service Contract renewals are vital for a steady stream of service revenues.  Renewal Rate is also a key performance indicator for service revenues, customer satisfaction, and customer loyalty.


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      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.


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      1 min read

      How do you Plan to grow Service Contracts Revenue?

      Your product install base provides a huge opportunity to grow service contract revenues and profits, but attach and renewal rates for extended warranty and service programs (EW/ES) stay below the desired levels.


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      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: 


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      2 min read

      What do you cover with your Extended Warranty and Extended Service Programs?

      Blumberg Advisory Group and G35 Software partnered to conduct a study among professionals involved in selling Extended Warranty /Extended Service (EW/ES) programs and asked them about Processes Covered and Resources Provided by their programs. Here is what their responses indicated:


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      3 min read

      Is it time to upgrade your Warranty System?

      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.


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