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...
Mize Service Contracts Management Software and Solution helps Manufacturers (OEMs), Third Party Administrators (TPAs), Retailers, and Channel Partners to set up, sell, administer, track, and analyze various service programs.
Revenues by increasing attach and renewal rates
Administration, sales and claims processing
Service experience, sales and margins
The buying process for customers on all channels
Reduce warranty processing costs by streamlining processes, eliminating duplicate data entry, and automating claim adjudication
Shrink cycle time for claim processing, parts return, supplier recovery, and identification of emerging issues
Slash 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
Ensure faster processing by validating claims data and allowing richer content to be captured
Reduce manual efforts involved in claims entry by integrating with service order systems
Service Programs deliver value to your customers by helping them to manage risk, limit repair costs, and minimize product downtime. Using the Mize SCM solution, you can offer and manage Service Programs.
Mize Service Contracts solution provides you the flexibility and capabilities needed to set up the programs suited to your industry, products, and customer needs.
Manage and track products, customers, and warranty entitlements
Elevate customer on-boarding experience
Generate additional revenue and profits from accessories, parts, services and service plans
Inform customers on service campaigns, product knowledge, and upgrades
Mize CX Insights powered by Industry leading BI platform provides reports, analytics, and actionable insights to drive sales and performance improvement. You can easily access Service Contract Administrators have access.
Earnings management
Attach Rates
Renewal Rates
Sales performance
Customer analytics
Opportunity reports
Loss Ratio Reports
Reports to Underwriters
Watch this video to learn more.
Mize Service Contract Management streamlines various processes involved contract administration improving efficiencies and saving administration costs. Manage the Service Contract lifecycle including Configuration, Quote, Sales, Registration, Claims, and Renewals.
Mize Service Contract Management streamlines various processes involved contract administration improving efficiencies and saving administration costs. Manage the Service Contract lifecycle including Configuration, Quote, Sales, Registration, Claims, and Renewals.
Register Service Plans, validate contracts, calculate entitlements, and track cancellations and modifications.
Manage Customer Support for Service Programs and engage Customers
Dispatch and Schedule Service Providers to perform repair or deliver services as per the terms of the service contracts
Automate and streamline claims processes to ensure accuracy, compliance, and timely payments to service providers
Manage workflows and notifications related to service contracts and claim approvals and processing
Control warranty costs with extensive checks and validations
Enhance the accuracy and integrity of claim data
Capture attachments, videos, diagnostics and communication
Improve productivity and efficiency with Claim process automation
Present Service Plan Offer: Present Service Plan options at the time of product registration
Opportunity management: Mize provides Opportunity reports to channel partners and sales teams for identifying products with upcoming warranty expiration or renewal of service contracts.
Email Notifications: Customers will receive a notification about the buying or renewal of Service Plans
Automate Renewals: Mize automates renewal process to maximize recurring revenue opportunities by generating renewal notifications and quotes before contract expiration
Integrated Sales: Integrate with other Sales systems, F&I menu programs to present right offers to customers
Manage Customer Support and Service Delivery to enhance the customer service experience.
Service Dispatch and Scheduling: Dispatch and Schedule service providers with Mize Field Service Management
Maintenance Scheduling: Automatically generates Service requests to dispatch service technicians to perform preventive maintenance activities
Service Level Agreements (SLA): Track SLAs and deliver as per SLA commitments
Claims: Generate and submit claims for services performed under service contracts
Increase warranty cost recovery
Drive product quality and supplier performance
Manage supplier warranty efficiently and cost effectively
Provide real-time visibility to warranty failures
Companies have an opportunity to engage customers, provide notifications, and present offers to increase attach rates and renewal rates.
Customer Self-Service portal provides access to knowledge, support requests, and service order status to reduce calls and improve customer satisfaction.
Reach customers on all channels (web, mobile, email, SMS/Text, Social media) to stay in touch and engage customers.
Manage recalls efficiently and cost effectively
Enhance the accuracy and integrity of claim data
Capture attachments, videos, diagnostics and communication
Improve productivity and efficiency with Claim process automation
Gain actionable insights to reduce warranty costs
Reduce detection-to-correction cycle-time to fix quality issues
Provide a centralized and trusted source of warranty metrics
Save time and cost in creating ad hoc reports
Jan 19, 2021 by Mize Inc.
Recent Study Indicates Utilization of Warranty Management Strategy Ensures Recurring Revenue Streams
Strategies For...
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