Manufacturers’ Spend on Warranty Management to Exceed $1B

<p><strong>London &mdash;July 31 </strong><br />Investment in warranty management technology solutions in the manufacturing sector is set to grow as manufacturers globally seek out additional cost and revenue opportunities. This is according to the latest report by independent market analyst Datamonitor, &ldquo;The Waking World of Warranty Management.&rdquo;<br /><br />The most common benefit associated with warranty management solutions is their ability to increase the visibility of warranty claims and the impact they have on current and future business imperatives. </p><p>While almost all manufacturing companies will have some degree of warranty management established within their businesses, Datamonitor has identified a renewed focus on streamlining processes and technology functionality in the discipline. <br /> <br />&ldquo;Warranty management is nothing new for a large number of manufacturing companies. However for many, associated processes are often disjointed, inefficient and, to a degree ineffective,&rdquo; said Adam Jura, manufacturing technology senior analyst and author of the study. <br /><br />&ldquo;As the cost of production and competition increase, these companies are having to identify business processes that can yield financial benefit through re-engineering or enhancement. In this sense, Datamonitor believes that warranty processes represent an area of untapped opportunity.&rdquo;<br /> <br /><strong>In-House Systems Still Support Warranty Processes</strong><br />Post sales support has become an important competitive differentiator for manufacturing companies, as they seek to grow revenues and protect margins. If warranty management and customer interaction are optimized, manufacturers can maximize satisfaction, reduce costs, drive repeat business and leave their competitors behind.<br /> <br />The sophistication of in-house systems varies greatly in terms of…


cmadmin

ABOUT THE AUTHOR

Posted in Uncategorized|

Comment:

Powered by WebDesk