Lowering Costs with Warranty Management >>
Manufacturers, who are keen on increasing their ROI and reducing costs of operations, face a common challenge—the increasing costs of warranties. While warranties are a key customer satisfaction component of the Manufacturing business, the cost impact ranges from 2% to 4% of the company’s revenue. Managing and predicting these warranty costs are important steps towards successfully managing the business.
While manufacturers practise cost optimization and reduction, predictive analytics can help determine the probability of claims, and the frequency of similar claims. An established IT service provider can assist you in understanding the nuances of these claims and predict the impact of warranty management.