6 min read
The Best Way to Utilize Warranty Management to Ensure Recurring Revenue Streams
Recent Study Indicates Utilization of Warranty Management Strategy Ensures Recurring Revenue Streams
Strategies For...
INDUSTRY
BUILDING MATERIALS MANUFACTURERS
The global building or construction materials industry faces many challenges, including globalization, labor shortages, cost pressures, and sustainability. To remain profitable and competitive in this global market, building material manufacturers need to streamline all customer-facing processes.
Vance Thomas
Corporate Warranty Manager
Manufacturers’ warranties on building materials are very long, twenty years in some cases. Also, the claims can be substantially large when compared to other industries. According to Warranty Week, the building material suppliers in the US alone paid out more than $1 Billion in Warranty Claims per year. A building is made of hundreds of interdependent materials from various suppliers, making it difficult to maintain, repair, and track warranty responsibility in case of a failure. This, of course, creates an additional expense burden for building material manufacturers.
Mize offers a robust and flexible Warranty Management Solution that addresses the needs of the building materials industry. Mize Inspections application enables the inspectors to capture the right data onsite to help with the claims process. Mize Claims process ensures the accuracy of data while improving the efficiency and automation of the claims process. Mize CX Insights make you more effective in reducing warranty costs and improve profitability.
As the building material industry becomes increasingly global, Mize enables companies to consolidate various regional systems into a global system supporting multiple languages, currencies, warranty policies, and service delivery models. Mize Platform and Solutions enable building material manufacturers to be more efficient, effective, and profitable.
In addition to new construction, building material suppliers can generate additional revenue and profits from customers’ demand for greater resiliency and sustainability of residential, commercial, and infrastructure projects. Mize enables manufacturers to maximize customer lifetime value by generating higher margin revenues from customers and products' existing install base. This is achieved through Mize’s ability to help manufacturers optimize customer experience and offer extended warranties and service contracts.
Manufacturers’ warranties on building materials are very long, twenty years in some cases. In addition, the claims can be substantially large when compared to other industries. According to Warranty Week, the building material suppliers in the US alone paid out more than $1 Billion in Warranty Claims per year. A building is made of hundreds of interdependent materials from various suppliers which make it difficult to maintain, repair, and track warranty responsibility in case of a failure. This of course creates an additional expense burden for building material manufacturers.
Mize offers a robust and flexible Warranty Management Solution that addresses the needs of the building materials industry. Mize Inspections application enables the inspectors to capture the right data onsite to help with the claims process. Mize Claims process ensures the accuracy of data while improving the efficiency and automation of the claims process. Mize Warranty Analytics makes you more effective to reduce warranty costs and improve profitability.
As the building material industry becomes increasingly global, Mize enables companies to consolidate various regional systems into a global system supporting multiple languages, currencies, warranty policies, and service delivery models. Mize Platform and Solutions enable building material manufacturers to be more efficient, effective, and profitable.
In addition to new construction, building material suppliers can generate additional revenue and profits from customers’ demand for greater resiliency and sustainability of residential, commercial, and infrastructure projects. Mize enables manufacturers to maximize customer lifetime value by generating higher margin revenues from the existing install base of customers and products. This is achieved through Mize’s ability to help manufacturers optimize customer experience and offer extended warranties and service contracts.
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Jan 19, 2021 by Mize Inc.
Recent Study Indicates Utilization of Warranty Management Strategy Ensures Recurring Revenue Streams
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