3 main challenges of managing product warranty

Most companies often think that the product warranty management process is simply an increase in costs and leads to lower revenue. Only a few companies invest in product warranty to improve customer satisfaction and reduce costs in this area by using warranty software. Companies that invest in product warranty management software have costs that are 150% lower than companies without the right product warranty management software.

Many companies have solutions that they think are suitable, but they do not see the enormous costs that arise. These costs include the use of multiple management platforms, redundant work, and the number of tasks that must be performed manually in the product warranty process. These solutions are not only not cost-effective, but they also prevent companies from seeing that product warranty is an opportunity to increase sales and revenue.

Ultimately, it’s all about customer service and the customer experience. But does it end there? You need to provide the best possible experience for customers to buy again and increase sales.

If you think you have the right solution for product warranty management, read this article about the three main challenges of product warranty management. You might be surprised at what you’re facing.

1. Complex warranty process for customers

Currently, the basic steps for warranty registration may be complex for customers, making them uninterested in registering for warranty/canceling registration midway. Or, if not complex, it could be a tedious process or a paper-based process. When the product has a problem, you want to claim or send it for repair, but you can’t find the warranty card.

This leads to customer dissatisfaction and may cause you to lose the opportunity to make this customer a regular customer for your business. When customers are not satisfied with the brand’s products, it is likely that customers will not repurchase from the same brand.

According to a survey, 78% of customers stop buying because of poor customer experience about after-sale service. Therefore, investing in warranty management software makes it easy for customers to register for warranty and is a worthwhile investment.

Our warranty management system can address this issue by attaching a warranty QR code to the device or packaging. After purchasing the product, customers can register for warranty on their own by scanning the QR code and entering their personal information for the reason for warranty. Our warranty system can be connected to the company’s Line OA, so customers do not need to download an app to access the Birth Note system.

The company can add a link to the device’s user manual, which could be a link to a website or YouTube video. This will eliminate the need for the company to print out paper user manuals, which can save costs. Additionally, the information that customers enter will be stored in a neat and organized manner in the back-end system.

2. Manual data entry and redundant work

Are your office staff manually entering all warranty data collected from external sources?

Is your existing warranty management solution currently doing this? Data collected from and stored in multiple platforms from multiple sources may lead to a large amount of manual handling, which may slow down the data storage process and increase the chance of errors.

With proper warranty management, we need to make the entire process automated and use the best technology to give companies customer insights and intelligent reporting systems for analysis to improve products and services.

This can significantly reduce warranty costs. It can also make it easy to claim products, giving your customers a good experience in warranty claims and encouraging them to repurchase from your brand in the future.

3. Limitations of reports and lack of insights

Whenever we talk about reporting or data analysis, we often encounter difficulties in managing these data. Just think about how long it would take to compile data to summarize and arrange in a table or graph if we were to make a report on the problems customers encountered during the 6-month warranty period.

In preparing reports on problems that customers encounter in using devices, we often have problems in storing product data, trends, and claims data, which are stored in a variety of systems and formats. It may take too long to combine into a concise report.

These limited capabilities lead to longer claim turnaround times, and eventually, there may be customer complaints that are escalated from general complaints to manager-level complaints due to dissatisfaction with the lack of progress in resolving the problem.

Birth Note identified challenges in this area and, as a result, developed a backend system to organize various data systematically. Whether it’s customer personal information, product warranty data, or product claims information, all are stored in an integrated platform. This enables the company to access information quickly, view overall customer data, and analyze customer behavior trends.

How about enjoying the fantastic features that can smoothly resolve issues for your business? Not only that, but also collect marketing data and boost profits for your business. Give Birth Note’s QR Code a try – guaranteed to impress!”

“If you are interested in Birth Note’s QR Code to boost profits for your business, feel free to call for a discussion or inquire for additional information. You can contact us at 099-564-5947, 096-142-9547 or send us an email to [email protected] for us to get in touch with you.