On August 19, Tavant is holding its Salesforce Month of Learning webinar, during which warranty experts and industry leaders will explore the impact that current industry trends are going to bring to the warranty and service space. We invited Tavant to share what manufacturers can get out of the webinar below. You can register for The Future of Warranty here or catch the other webinars you missed in the Month of Learning here.
What is the future of warranty?
Today, technology is causing waves of digital transformation in manufacturing business processes, including warranty. Manufacturers are leveraging the power of technology to discover and develop innovative warranty management systems that can reduce the errors in the process and enable a great experience for their customers. There is a transformative paradigm shift from a traditional cost-center approach to leveraging warranty as an asset with a competitive advantage.
There's a paradigm shift happening from a traditional cost-center approach to leveraging warranty as an asset.
Manual or outdated warranty systems can result in claim processing issues, leading to considerable revenue leakages across numerous business units. A next-gen warranty management system with innovative and connected technologies such as IoT, artificial intelligence and machine learning can decrease errors significantly and offer accuracy and convenience without compromise.
The cornerstone of an organization’s attempts at seriously tackling today’s warranty concerns is having a complete and single version of data visible at the center. It enables better warranty decisions and helps with a comprehensive 360-degree view of the customers, which includes dealers, distributors and suppliers. It also helps in taking the feedback to upstream functions such as quality, R&D and procurement.
Manufacturers can utilize the data in the warranty and quality chain — and not just data from warranty claims. Large volumes of data (IoT, warranty, product, sales/marketing) can help drive accurate pricing of warranty, reserves and better warranty policies.
Tavant Warranty, named a leader in IDC MarketScape, is an AI-powered enterprise warranty platform that delivers end-to-end warranty lifecycle management and is the only native warranty solution on the Salesforce platform. It provides cross-functional integrations with legacy and ERP systems for data consistency and integrity and enables organizations to reduce warranty costs, increase supplier recovery performance, and improve aftermarket efficiency. The solution brings together OEMs, suppliers, service channel partners, and customers in a real-time collaborative environment.