Fraudulent Warranty Claims -
A large chunk of fraudulent claims come from fraudsters who mix up with real customers who end up losing their warranty cards and bills. Also, customers at times intentionally provide an out-of-the-warranty product under claims. By eliminating fraudulent claims early in the process, you not only save money but also precious time and resources.
Warranty fraud can be difficult to detect, especially without skilled resources, processes and controls in place -- e.g. internal audit departments, anti-fraud policies, and formal fraud risk assessment. As brands look forward to providing the best customer experience, a lot of such repetitive and fraudulent claims are left in the suspicion stage.
Using the NeuroWarranty app, when any product comes for warranty claims, you can track details like when the product was manufactured and who was the supplier/ OEM. This will help in tracking which supplier is using the wrong product.
Tedious Warranty Claim Processes -
Most customers see claiming a warranty replacement for their product as a hassle rather than a privilege. This is due to the tedious time and effort-consuming warranty process brands use.
Before claiming a warranty customers have to go through the tedious process of finding old purchase bills and warranty letters which more often than not are misplaced due to the high volume of purchases customers make nowadays.
Although the process does not end at finding the purchase bills, customers then have to often go through endless calls with customer support teams to verify their purchase and then claim a warranty.
This process has been known to have a high dropout rate and customers often link the bad experience of the claim to the brand, creating a negative brand image and restricting them to buy from you again.
NeuroWarranty's warranty management software completely automates and digitizes your process end to end. Customers no longer have to look for old bills and go through endless calls, instead, they can register and claim for a warranty in a single click, heres how-
Scan the QR code or click here to get the complete 1 click warranty registration experience :
High Warranty Management Costs -
Traditional warranty management processes are manual and labour intensive, thus driving up costs. Automating the warranty process allows you to reduce your dependency on customer support executives and reduce customer support costs. Automating the process allows brands to manage a large number of warranty claims at once on a single screen, thus cutting down the operational cost significantly.
Customer Warranty Communication -
Customers, when registered for a warranty claim, want constant updates on their claim status, but ensuring that customers are aware of their warranty claim's status is an expensive and time-consuming process for brands.
Absence of a direct communication channel between customers who claim a warranty and customer service teams forces brands to take up the process on-call resulting in additional service costs and reduced profits.
At the same time, collecting feedback and reviews from your end customers can prove to be a rather complicated task, notably for consumer product brands. Using Customer Relationship Management (CRM) software, your end customers can connect directly with your client servicing teams to communicate and register their feedback.
While buying separate CRM tools can be expensive and difficult to manage, you can save tons of money spent on buying additional CRM tools. Digital warranty management solutions like NeuroWarranty come with inbuilt CRMs and allow your customer support executives to manage the entire post-sales experience from a single screen.
Lack of Warranty Data and Analytics -
Warranty Applications equipped with intelligent dashboards offer relevant insights for better decision-making. There are many reasons why you would want to equip your business with a warranty management app. One of them is because they give you unique insights into the performance of your product in the field.
Analytics dashboards can give you an idea of how your product performs across various geographies and demographics and where you need to improve. This data can help your brand make better decisions in various areas of your business.
With the right warranty analytics in place, businesses can save time, money, and resources and make better decisions. When selecting a warranty management app, it's important to find an app that can offer you the right warranty analytics. The application should be able to provide the right services that fit your needs and is optimized your business.
The NeuroWarranty warranty tracking software allows you to access in-depth analytics of all your product warranties and the personal data of your end customers. If you have any questions about how to use our software or how it can help your business, book a demo according to your convenience here.