Warranty Processing
Manufacturers spend over $25 billion every year on product warranty claims. Manufacturers spent an average of 1.9% of product sales to satisfy warranty claims. In spite of the numbers, warranty management remains the area of least focus in Manufacturers service management. This lack of focus is a missed opportunity for bottom line savings and a lost opportunity to increase business value through higher customer satisfaction and loyalty.
Warranty processing is labor intensive. Business systems are not built to support this process resulting in cycle times being high for claims review and reimbursement. Lack of information leads to warranty policies not being enforced resulting in fraudulent or invalid claims. Companies do not have effective systems and processes to distinguish their warranty responsibility to that of a vendor. iSpace can bring best practices and an end to end service offering to better manage this process. Our services focus on the following areas:
- Warranty Policy Management
- Warranty Claims Submission and Adjudication
- Reverse Logistics
- Supplier Recovery & Credit Authorization
- Asset Transfer
- Warranty Analytics
