3 min read
The Year Ahead: A Connected Service Future
Helping Manufacturers Capitalize on the New Service Economy
This year has been a transition year for many organizations...
Reduce Warranty Cost While Driving Improvements in Product Quality and Brand Experience
Reduce costs and increase service revenues by optimizing warranty management with the Mize Warranty Smart Blox. The streamlined system allows all stakeholders, from manufacturers and suppliers to service providers and end-users, to collaborate to reduce warranty expenditures, improve product quality, and enhance the customer experience.
The solution manages the authorization of returns, generation of Return Material Authorizations (RMA/RGA), and tracking of returns. The solution enables manufacturers and suppliers to collaborate on reducing warranty costs by managing supplier warranties for components and parts.
The Warranty Smart Blox enables global companies to:
Automate claim processing based on business rules and automatically minimize data entry by retrieving customer, product, and warranty information.
Manage various claim types, including; standard, extended, parts, and used product warranties, as well as campaigns/recalls and goodwill.
Integrate with Financial, ERP, and other enterprise systems using standard web services to enable seamless end-to-end warranty processes.
Enhance business performance, reduce warranty and service contract costs, and improve product quality through warranty analytics, fraud detection, and predictive analytics.
Reduce warranty costs 15% or more by streamlining processes, eliminating duplicate data entry, and automating claim adjudication
Achieve 80% or more in automated claims processing efficiency
Lower Total Cost of Ownership (TCO) with an easy-to-implement solution powered by scalable cloud architecture
Increase revenues and profitability from maintenance, service, and parts
Increase supplier recovery to 40-60% of total warranty cost
Reduce manual efforts involved in claims entry by integrating with service order systems
Perform and submit PDI results with the tablet, mobile, or web
Track inspections and related claims
Create and maintain product registration data for products online and via batch upload
Track changes of ownership, such as sales and transfers
Determine warranty coverage based on in-service or delivery date
Attach images or files to registrations
Scan barcodes or QR codes on mobile devices to quickly identify the product
Analyze owner demographics for registered products
Offer relevant service plans to increase attach and renewal rates
Manage and track standard manufacturer warranties and extended service plans
Determine warranty eligibility for qualified repairs
Assign supplier responsibility for the claim
Support various claim types including New Warranty, Pre-Owned Warranty, Extended Warranty, Service Bulletins, Parts Warranty, Goodwill, and Pre-Delivery Inspection
Enter, validate, and process claims entered online or via batch
Capture claim failure information including causal part, dates, repair site, complaint, the reason for repair, cause, corrective action, internal and external comments, and claim attachments
View claim payment information including requested amounts approved amounts, and credited amounts for parts, labor, and other charges
Process pending claims with the ability to adjust claims, request additional information, approve claims, or deny claims
Manage business rules for claim validation, processing, and auto-approval
Generate barcoded Return Material Authorizations (RMAs) with the relevant claim and part information
Integrate with third-party logistics providers like FedEx and UPS to generate shipping labels
Manage return requests to identify parts to be returned and the shipping location
Track and manage RMAs
Generate Supplier Claims from Dealer Warranty Claims automatically
Assign Supplier responsibility for the claim
Adjust claim amounts based on supplier policies and agreements
Analyze supplier performance and quality
Create dashboards and configure reports based on metrics, needs, and user-based criteria
Track Claims either by costs, model, or category and reviews the claim count, part cost, and labor cost totals
Detect emerging product quality issues
Manage warranty accruals and service plan earnings
Schedule and export reports as an Excel file or Acrobat PDF
Create and maintain warranty coverages, policies, applicability, terms and conditions
Support multiple warranty types, multiple coverage periods (including hours, days, months, years, lifetime, etc.), and multiple usages (including hours, miles, and kilometers)
Support deductibles and/or max limits on coverage
Maintain varying terms and conditions for parts, labor, and other charges
View all warranty coverages that are associated with a registered product
Manage and track campaigns, recalls, or service bulletins
Authorize campaigns by product category, model, and serial number range
Analyze campaign performance
Capture and maintain claimed labor information, including labor codes/SRTs and labor hours
Maintain labor rates by submitting location and labor type
Create distributors, dealers, manufacturers, OEM’s, owners, suppliers, and other business organizations
Maintain relationships between business organizations, including security profiles so that dealers/distributors only access appropriate data
Support multiple geographies including country, state, province, region, and territory
View and maintain lists of entities like dealers, customers, products, parts, and suppliers
Manage users, groups, functions, and views
Define the user roles and access levels that apply to your company
Integrate with other user authentication systems to support Single Sign-On (SSO)
Support multiple currencies and languages
Create work queue assignments for organizations, groups, or users
View and/or maintain product attributes of products, product classifications, product information, and serial numbers
View and/or maintain parts and components
Support supplier costs and lists prices
View and maintain catalogs of code tables used for validation and look-up
The Mize Warranty Solution is available in the Software as a Service (SaaS) model reducing capital investment and implementation time. The Mize team brings decades of experience in Warranty Management Solutions to help assess and improve your warranty processes.
Global manufacturers spend billions of dollars a year to cover the cost of warranty claims and product recalls. Manufacturers need to quickly detect and correct emerging quality issues to reduce escalating warranty costs and improve customer satisfaction.
Warranty accrual reporting helps companies with internal financial planning meet future warranty claim reimbursements and meet financial reporting requirements by public companies. Mize Warranty software provides the reporting capabilities to easily and accurately manage warranty accruals or reserves.
Most companies suspect warranty fraud but are not sure of the extent and ways to eliminate it. The existing tools and methods to detect warranty fraud are complex and expensive, causing manufacturers to bear the high costs unwillingly.
Product Manufacturers (OEMs) are increasingly expecting the suppliers to take more responsibility for parts design and warranty cost-sharing. OEMs and suppliers need to collaborate more effectively to improve product quality, reduce warranty costs, and prevent costly recalls
Suppliers are facing increased warranty costs as OEMs expect the component and part suppliers to take more responsibility for parts design and warranty cost-sharing.
Supplier Recovery is an integral part of the Mize Warranty Smart Blox and enables Manufacturers (OEMs), Distributors, and Fleets to increase warranty cost recovery, drive product quality and supplier performance, manage supplier warranty efficiently and cost-effectively.
Home Warranty companies, Utility companies, Homebuilders, or Third Party Administrators (TPAs) can utilize Mize Home Warranty Software to manage the Warranty Programs, Service Network, Customer Support, and Warranty Claims effectively and efficiently.
Many global manufacturers run on SAP for core enterprise processes, including manufacturing, financials, and procurement. Mize Warranty is an easy-to-use and cost-effective Warranty portal that extends SAP to all the channel partners, including distributors, dealers, and service centers.
Third Party Administrators (TPA) play an important role in managing warranty programs for OEMs and Retail partners or by offering service contract programs for customers to protect their purchases.
This year has been a transition year for many organizations...
Durable goods manufacturers have long played a part in the circular business...
The last 18 months have been challenging for most industries, and the automotive industry has been particularly hard...
The Mize team brings decades of experience in Service Lifecycle Management. Ask us how we can improve your processes.
Please pick the Smart Blox you're most interested in.