How the Right Warranty Management Solution Can Help Improve Your Organization’s Bottom Line!

[This Blog presents an excerpted portion of the White Paper written by Strategies For GrowthSM (SFGSM) and distributed by Tavant Technologies, a global leader in providing Cloud-based Warranty Management systems and solutions.To access the complete White Paper, or to download an archived copy of the companion Webcast, please use the Weblink provided at the end of the Blog.]

Each year, SFGSM conducts a series of Benchmark Surveys among its outreach community of more than 39,000 global services professionals. Total responses for the 2017 Warranty Chain Management Benchmark Survey, conducted in January/February 2017, are 215. As such, we believe the survey results to represent a realistic reflection of the global warranty chain management community in which we all serve.

Putting Things in Perspective

Overall, survey respondents identify the following as the top factors that are currently driving their desire – and ability – to optimize warranty management performance:

  • 47% Post-sale customer satisfaction issues
  • 43% Desire to improve customer retention
  • 36% Customer demand for improved warranty management services

In order to effectively address these challenges – and strive to attain best practices – respondents then cite the following as the most needed strategic actions to be taken:

  • 43% Develop / improve metrics, or KPIs, for advanced warranty chain analytics
  • 28% Foster a closer working collaboration between product design & service
  • 28% Institute/enforce process workflow improvements for supplier cost recovery

The survey results also reveal that roughly two-thirds (66%) of respondent organizations currently operate service as an independent profit center (or as a pure, third-party service company), compared with only 34% that operate as cost centers. At these percentages, the warranty management respondent base represented in the survey reflects a consistency over the past few years, and mirrors the overall composition of the global services marketplace.

Further, the two-thirds ratio supports the supposition that it would strongly benefit services organizations that are attempting to keep their customers satisfied – and make an attractive profit by doing so – to put into place a well-structured, automated and Cloud-based warranty management solution designed both to satisfy customers, and contribute directly to the bottom line.

However, while the importance of effective warranty management is sufficiently validated by the responses to the survey, a majority of warranty management solution users are not as duly impressed with the vendors that render them these services. For example, only 42% of respondents are presently satisfied with the services and solutions provided by their respective primary warranty management solution vendors – including a stunningly low 12%, or only one-out-of-eight, who are “extremely satisfied”.

In fact, just under half of users (44%) rate their perceptions of the performance of their primary vendor as “neither satisfied nor dissatisfied” – or what we would normally describe as a “complacent” user base. While only 3% of users claim to be “not at all satisfied”, there are still a total of 15% that fall into the “dissatisfied” category.

Research shows that a majority (i.e., 50% or greater) of the dissatisfaction that users have with their current vendors apparently stems from the importance that the market places on key factors including cost of services (70%), followed by the industry reputation and warranty management experience of the vendor (i.e., at 47%, each). Other factors influencing performance perceptions include the vendor’s data/information reporting capabilities (41%) and specific geographic experience (38%).

Roughly half (49%) of the survey respondents’ organizations have either implemented a “new” warranty management solution, or upgraded their existing solution, within the past three years or less. Of this amount, about one-in-seven (15%) have implemented a “new” solution, while more than one-third (34%) have upgraded their existing solution. The remaining 51% are currently using warranty management solutions that are, at least, three years old, or older (Figure 1).

The survey research clearly shows that those organizations that have implemented “new” warranty management solutions have realized the greatest levels of performance improvement – certainly, much greater than for those that have merely upgraded their respective Warranty Management solutions. The Key Performance Indicators, or KPIs, that reflect the greatest improvements for each category of organization are as follows:

Warranty Claims Processing Time:

  • 14% Performance improvement for “New” Implementations
  •   6%  Performance improvement for Upgrades

Supplier/Vendor Recovery (as a percent of Total Warranty Expense):

  •   8%  Performance improvement for “New” Implementations
  •   5%  Performance improvement for Upgrades

Based on the results of SFG’s 2017 Warranty Chain Management Benchmark Survey, the key takeaways are:

  • Roughly half (49%) of the warranty management segment have either implemented or upgraded their warranty management solutions in the past three years or less
  • More than three-quarters (77%) of current warranty management processes are at least partially automated
  • Over the next 12 months, annual warranty management budgets are expected to increase, with more than twice as many organizations planning increases over decreases
  • Organizations with “new” warranty management implementations have realized significantly greater performance improvements than all other categories with respect to warranty claims processing time and supplier/vendor recovery (as a percent of total warranty expense)
  • Warranty management organizations are being driven, first, by Customer-focused factors; second, by Product Quality-focused factors; and third, by Cost/Revenue-focused factors
  • The most significant challenges currently faced by warranty services managers are identifying the root causes of product failures, followed by product quality issues and claims processing time and accuracy
  • Currently, as well as in the next 12 months, warranty services managers will be focusing primarily on developing and/or improving their KPIs and warranty analytic programs, fostering a closer working collaboration between product design and service, and instituting/enforcing process workflow improvements for supplier cost recovery
  • Nearly half (46%) of organizations are currently integrating warranty management with all other services functions, and just as many already have an end-to-end workflow process in place to handle claims and returns (46%); however, this means that more than half presently do not have these capabilities in place
  • The top uses of data/information collected from warranty events are basically to improve processes (i.e., field service, depot repair, parts returns, etc.) and effect changes (i.e., product design, manufacturing, etc.)
  • Customer satisfaction and warranty management-related costs are the top two categories of KPIs used by warranty services management organizations, followed by warranty costs, per product

[To access the complete White Paper, containing much more information and numerous supporting tables and charts, please visit the following Weblink, hosted by Tavant. An archived copy of the companion Webcast is also available for download at http://bit.ly/2lUppNZ.]

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Bill Pollock to Conduct Workshop at the 13th Annual Warranty Chain Management Conference in Tucson AZ, Tuesday, March 7, 2017

Bill Pollock, president & principal consulting analyst at Strategies For Growth℠, to conduct Workshop on the topic of “Transforming Warranty Management Into Improved Customer Satisfaction and Revenue Generation”, Tuesday, March 6, at the 2017 WCM Conference in Tucson, AZ

[Reprinted/Edited from the February 16, 2017 issue of Warranty Week]

From March 7 – 9, 2017, warranty professionals will gather in Tucson, Arizona, for the 13th annual Warranty Chain Management Conference. And as always, the opening day is taken up by a series of pre-conference workshops.

Many times, at past conferences, people arrive too late to attend any of the workshops, but wish they had. So while there’s still time for attendees to switch to an earlier flight, we wanted to provide some detail about what’s on offer.

This year, there will be six workshops — three in the morning and three in the afternoon on Tuesday, March 7. They’ll be followed by a welcome reception in the evening, and then the main conference proceeds on Wednesday and Thursday.

What these workshops provide is a deep dive into a single topic, such as transforming effective warranty management into improved customer satisfaction and the bottom line. They’re run by experts in the field, but the attendees are from all levels. And what they all know is the fundamental value of conferences like these: none of this material can be learned from books.

Bill Pollock‘s workshop is one of the three workshops scheduled for 9 AM to 12 noon, MST.

 

Raising Customer Satisfaction Levels

Pollock’s workshop is entitled, “Transforming Warranty Management Into Improved Customer Satisfaction and Revenue Generation“.

Pollock, who is a repeat presenter of WCM workshops, said he’s aiming this year’s presentation at managers and executives who need to improve customer satisfaction, drive revenues, and gain competitive advantage through improved warranty management.

“The perfect attendee would be anyone who deals both internally and externally with customer satisfaction, revenue generation, revenue management, or sales and marketing,” he said. “They’re the people who have the mandate — all their merit increases, their bonuses, are going to be dependent on how efficiently they run their part of the warranty management organization.”

Pollock said companies want to see both a contribution to the bottom line and an improvement in customer satisfaction levels. “But they’re almost diametrically opposed to one another,” he said. Deny more claims and satisfaction drops. Approve more claims and profits drop. So there has to be another way: increase revenue.

“One of the best things you can do to improve your revenue stream and to satisfy customers is to focus on warranty management, contract renewals, and attachment rates,” Pollock said. “You’re going to have increased revenues, and they’re going to be more predictable.”

Once the revenue increases, the money can be invested in automating and improving processes, which will ultimately raise customer satisfaction levels, Pollock explained. The goal is to turn a warranty claim into a more pleasant encounter for the customer, rather than adding insult on top of the injury.

“If you can’t make them feel better virtually immediately, then you’re going to allow a bad situation to get even worse,” he said. “What you need to do is build a warranty management program that can generate increased revenue, then take that revenue and spend it on improving the processes.”

Pollock said his advice is backed up by surveys he’s conducted both recently and in years past. “The first part of the workshop is going to be me presenting what best practices organizations are doing that are different from what the average organization is doing. But we also introduced some new questions into the survey this year,” he said, such as whether your organization has recently upgraded its warranty management solution. “What we’re finding is that there’s a big difference,” he said, in metrics such as claims processing time, service profitability, and supplier recovery rates.

More basically, Pollock said, the companies that recently upgraded their warranty management solutions are better not only at measuring themselves, but also at reporting the improved metrics. “Now, through more automated processes, through the cloud, powered by the Internet of things, you can build algorithms that allow you to more quickly identify than ever before, what’s really making a difference,” he said.

For more information on this workshop, or to register for the 2017 WCM Conference, please visit the conference website at: http://www.warrantyconference.com

Looking forward to seeing you in Tucson!

Bill

Strategies For Growth℠ Announces March 1, 2017 Warranty Management Webcast, to be Hosted by Tavant Technologies

Westtown, PA., February 16, 2017 – Bill Pollock, President & Principal Consulting Analyst, Strategies for Growth℠ (SFG℠), the Westtown, Pennsylvania-based research and consulting organization, today announced its upcoming Webcast entitled, “How the Right Warranty Management Solution Can Help Improve Your Organization’s Bottom Line!“, largely based on the findings from the firm’s third annual Warranty Chain Management Benchmark Survey Update.

The Webcast will be hosted by Tavant Technologies, “the world leader in providing Warranty Management Solutions”, and will be held on Wednesday, March 1, 2017, from 1:00 pm to 2:00 pm EST. A complimentary White Paper will also be available for download by Webcast registrants at that time.

According to Pollock, “The findings from Strategies For Growth℠’s 2017 Warranty Chain Management Benchmark Survey clearly reveal that services organizations that have acquired and/or upgraded their Warranty Management solutions within the past three years have begun to see significant improvements among key factors contributing to their respective bottom lines.”

“For example, since the acquisition or upgrade of their Warranty Management solutions, these organizations have realized:

  • A 9% improvement in Warranty Claims Processing Times (and are now processing their claims at a rate more than twice as fast as all others); and
  • A 6% improvement in Supplier/Vendor Recovery (as a percent of total warranty expenses).”

Led by Pollock, this Webcast will focus on the specific challenges that Warranty Management organizations are facing, the strategic actions they are taking to address those challenges, the technologies they are using, and the key drivers that are pushing them to strive toward Best Practices status. The importance of warranty analytics and the establishment of an effective Key Performance Indicator (KPI) program will also be addressed.

The Webcast is intended to provide Warranty Chain managers with the guidance they will need to build an effective Warranty Management operation that can take them to the next level with respect to increased revenue generation and improved customer satisfaction. Among the key areas to be addressed are:

  • What Best Practices Warranty Management Organizations are doing to attain the highest levels of Customer Satisfaction, Warranty Claims Processing Times and Service Profitability
  • What drives these organizations to aspire to higher levels of performance, and what challenges they are likely to be face along the way
  • How to emulate the strategic and tactical actions presently being taken and/or planned by these leading Warranty Services organizations

To register for the Webcast, simply click on the following Weblink: http://info.tavant.com/WCM_Warranty_Webinar_2017.html.

Also, please be sure to watch for more information from the SFG℠ survey results in upcoming issues of Warranty Week: http://www.warrantyweek.com.

About the Presenter

Bill Pollock is President & Principal Consulting Analyst at Strategies For GrowthSM (SFGSM), the independent research analyst and services consulting firm he founded in 1992. In 2015/2016, Bill was named “One of the Twenty Most Influential People in Field Service” by Field Service News (UK); one of Capterra’s “20 Excellent Field Service Twitter Accounts”; and one of Coresystems’ “Top 10 Field Service Influencers to Follow”. He writes monthly features for Field Service News and Field Service Digital, and is a regular contributor to Field Technologies Online and Warranty Week. Bill may be reached at +(610) 399-9717, or via email at wkp@s4growth.com. Bill’s blog is accessible @PollockOnService and via Twitter @SFGOnService.

About Tavant Technologies

Headquartered in Santa Clara, California, Tavant Technologies is a specialized software solutions and services provider that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Founded in 2000, the company employs over 2,000 people and is a recognized top employer. Tavant is the world leader in providing Warranty Management Solutions. The company offers ‘Tavant Warranty’ – a globally leading, complete service lifecycle – on premise warranty management software and, ‘Tavant Warranty On-Demand’, The only 100% native warranty management system on Salesforce. Find Tavant Technologies at www.Tavant.com, and on LinkedIn and Twitter.

Strategies For Growth Announces Launch of Its Third Annual Warranty Management Benchmark Survey Update and Workshop Session

Westtown, PA., January 19, 2017 – Bill Pollock, President & Principal Consulting Analyst, Strategies for GrowthSM (SFGSM), the Westtown, Pennsylvania-based research and consulting organization, today announced the launch of the firm’s third annual Warranty Management Benchmark Survey Update.

The survey will be running “live” through the third week of February, and a summary of the results will be presented as part of Pollock’s Pre-Conference Workshop Session at the 2017 Warranty Chain Management (WCM) Conference to be held on Tuesday, March 7, 2017, in Tucson, Arizona. The two-day WCM Conference itself will follow on March 8 – 9, 2017.

Pollock’s Workshop Session, entitled “Leveraging Effective Warranty Management into Improved Customer Satisfaction and Profitability”, will share both information and guidance based on insights derived from the data collected from the more than 100 Warranty Services professionals who are expected to take part in SFGSM‘s 2017 Warranty Management Benchmark Survey Update.

According to Pollock, who also blogs regularly via his www.PollockOnService.com Blogsite, “Research like this makes for invaluable assets that are foundational to organizational best practices with regard to warranty chain management. In this session we will share findings from our 2017 Warranty Chain Management Benchmark Survey Update that identify the top drivers, strategic actions, Key Performance Indicators (KPIs) and emerging technologies that are pushing Warranty Management Organizations to aspire to attain higher levels of performance.”

Led by Pollock, the Workshop Session will present fresh insights on the current state of the Warranty Chain Management industry, and how Best Practices services organizations are able to differentiate themselves from all others. The session will also help participants learn:

  • What Services Organizations are doing to attain Best Practices status with respect to Warranty Chain Management
  • What leading Warranty Services Organizations are doing to attain the highest levels of Customer Satisfaction and Service Profitability
  • What is driving the Warranty Services market to aspire to higher levels of performance, and what challenges they are likely to face in doing so
  • How to emulate the strategic and tactical actions presently being taken and/or planned by the leading Warranty Services organizations

To participate in SFGSM‘s 2017 Warranty Management Benchmark Survey Update, respondents may simply click on the following Weblink: https://www.surveymonkey.com/r/2017SFGWCM.

All participants that provide their name, title, company, e-mail address and phone number, will also receive a link to a complimentary copy of the Executive Summary, to be made available shortly following the WCM Conference.

For more information, or to register for Pollock’s Workshop Session, please visit the 2017 WCM Conference website at: www.warrantyconference.com.

Also, please be sure to watch for more information from the SFGSM survey results in upcoming issues of Warranty Week: www.warrantyweek.com.

Selling Maintenance Agreements & Professional Services – It’s Probably Much Easier than You Think!

[Reprinted from the June/July 2016 issue of Field Services News]

Most people would seem to agree that a physical product, like a copier, printer, or scanner, is the easiest thing to sell. Companies can include photographs and hardware specs for these types of products in their brochures and catalogs; photographs can be included in the company’s web site descriptions; and demos can be conducted right at the customer’s site, etc.

But, in many cases, selling a product can actually be one of the most difficult things to do, especially if you have never sold anything to a particular prospect in the past, or if they are not familiar with your company’s lines of copiers, printers, or scanners, etc. This is why we are suggesting that a maintenance agreement, or professional services, for an existing business imaging system (or any other type of equipment) may actually be easier to sell than the original product itself. Let me explain.

Chances are, some of the accounts for whom you provide copier service and support purchase dozens, if not hundreds, of individual pieces of equipment every year. For most of your smaller accounts, any single equipment purchase is, in a relative sense, a major consideration for them, both from an absolute and a financial perspective. However, once they have made the decision to purchase a particular piece of equipment, they have already “bitten the bullet” with respect to its importance to their business operations, and they have accepted all of the financial considerations that will be tied to its acquisition and use.

You may have already heard the expression “total cost of ownership”, or TCO; what this means is that, in real life, there is usually more to the “total cost” of an individual piece of equipment than just the price that was paid for its acquisition. In addition to the specific purchase price, there is also the cost of ongoing hardware and software maintenance support, replacement parts, help desk support, consumables (like paper, toner, etc.) and many, many others.

For some, the acquisition of new equipment also requires moves or changes to their physical facility to create space for a new business imaging system or copier machine, as well as additional training for the individuals who may be tasked with various internal maintenance and/or administrative responsibilities. The general rule of thumb with respect to TCO is that, over the course of several years, the “actual” cost of ownership for any particular piece of equipment may be up to twice the initial purchase price (or more).

As such, it is easy to imagine that any one of your accounts that has already planned to purchase a major piece of capital equipment such as a copier, scanner, or printer would have already examined the anticipated TCO for that unit, and would have budgeted accordingly. However, even the most sophisticated business planners may sometimes misjudge what the ultimate TCO will be for an individual piece of equipment (or not forecast it at all).

For example, they may have only anticipated requiring warranty service for one year or so following acquisition, without planning for any further post-warranty support that, if provided on a time and materials basis, would end up being quite expensive. Some may not have anticipated losing the staff that was originally trained on a particular piece of equipment, and may ultimately find themselves in a situation where new hires may need “fresh” training for an existing business imaging system. These are both classic cases where your existing accounts may already be clamoring for enhanced maintenance, or warranty agreements, or for various other types of professional services that your company may already offer (i.e., user training, train-the-trainers assistance, custom documentation, etc.).

Whether any of your existing accounts have either mis-planned – or didn’t plan at all – when they made their initial purchase decision, they have one thing in common: at some point, they will recognize that they need additional support over and above what they initially received when they purchased the equipment, and that this support will typically manifest itself in either the need for an enhanced maintenance agreement, specific professional services, or both.

If you have been observing and monitoring your accounts all along the way, you probably can already pick out which ones are “ripe” for selling maintenance agreements or professional services. If you have also been keeping up-to-date with your company’s product and service support offerings, you are also ready to speak to those accounts with respect to what you believe will make their ultimate “total cost of ownership” less in the long run. Armed with this information, you will find yourself in the perfect position to make the sale of maintenance agreements and professional services as easy as possible – certainly easier than making a “cold” sales call to a new prospect.

All you really need is the understanding of what your customers require, matched against the products and services your company offers, and many of these prospective “sales” will simply be waiting there for you to “close” them.

Selling Services – How to Recognize Customer Buying Signals

Understanding your customers’ needs, and knowing what is available for sale, complete one key equation; however, there is still one other key unanswered question: How can you tell when your customer is ready to buy?

Recognizing a customer’s buying signals is one of the most difficult things there is to teach. In fact, many will argue that this is an innate trait that only “true” salespersons are born with. Whether this is true or not is really only a side issue. The main issue is that every one of your customers and prospects sends out signals that you can rally around with respect to determining when they are ready to buy. Some will be “hard” signals that you can practically take right to the bank; although most will be “soft” signals that will vary from customer-to-customer, person-to-person, and situation-to-situation. Let me explain.

The various types of buying signals “transmitted” by your customers may typically be classified into the following categories:

  • Overt
  • Passive
  • Observed

Overt Buying Signals

An overt buying signal is the closest thing to a gift that you may ever receive from your customers. This is when the customer calls you, or comes right up to you, and says something like, “Our copier is pretty much shot, and it simply won’t handle all of our volume anymore. Don’t you guys have a newer machine that you think can do the job for us?” Or, “You know, our machine will be coming off warranty soon. Don’t you guys offer some kind of extended warranty contract? If you do, we’d really be interested.” While these opportunities may seem just like manna fallen from the heavens, the problem is, if you do not take immediate advantage of them, the opportunities themselves may either fade over time, or go away altogether.

For example, given an opportunity like one of these, it may simply be a matter of speaking briefly with your customer, showing him or her a new brochure or directing them to your company’s web site, and casually discussing the enhanced features of a new system or service offering on a face-to-face basis. However, if your response is more like, “I have a few ideas. Why don’t I get back to you in a week or two when I’m not so busy, and maybe we can work out something.” By the time a couple of weeks go by, the thought of acquiring a new piece of equipment or service offering may have moved from your customer’s top-of-mind to their back-of-mind – and once there, it may involve much more work on your part to get it back up front.

Overt buying signals do not happen all the time; but when they do, you pretty much have to take advantage of them as they occur, rather than run the risk of having the customer push it far back into the recesses of his or her mind – or even worse, allowing them to have the same conversation with a competitive vendor’s sales or services person.

Passive Buying Signals

Passive buying signals may not be as obvious; however, they are still fairly easy to identify, and even easier to take advantage of. The tell-tale clues that your customers may give to you typically manifest themselves in comments or questions such as, “Man, this old machine keeps breaking down, and breaking down, and breaking down. I don’t know what I’m going to do if it shuts down during one of our big production runs”; “Ever since this machine came off of warranty, whenever we call for service, we end up paying you guys on a time and materials basis. There’s got to be a better way”; or “I don’t know. It just seems like our other division on the next floor gets their copy work done a heck of a lot faster than we do. I think they have a new machine up there, and they just keep making us look bad in comparison”.

Any of these comments or questions represent just as valid a selling opportunity as any of the overt buying signals we just talked about earlier. The only real difference is that, in these cases, you will typically need to be the one who initiates the conversation about replacement units, new machines, and/or enhanced service level agreements – and not the customer.

Even so, you may still be surprised as to how receptive your customers will be in having such a conversation. What’s more, since you already understand your customers’ needs and requirements for business imaging systems and equipment, and you know what your company has available for sale, you can probably step right in, provide some specific suggestions or recommendations, and convert a potential customer problem into a potential company sale.

Observed Buying Signals

Sometimes the customer does not even have to say a word. Since you already visit the customer’s site, on average, about once a month or so, you are probably in an excellent position to observe how one or more of their machines are routinely being overused, misused, or otherwise used improperly. You have probably also seen some of your customers reach new levels of frustration in dealing with machines that simply cannot ratchet up to their increased levels of volume or throughput, or effectively deal with emerging areas of business imaging applications.

We have all heard the expression that “a picture is worth a thousand words”. In both the overt and passive buying signal situations, it will primarily be the words that are either conveyed to you, or conveyed by you to the customer, that will ultimately lead to the potential sale. However, in an observed buying signal situation, it is the “picture” you observe at the customer site that will ultimately tell you the “story” that you will need to focus on in order to ultimately make the sale.

At the end of the day, it really does not matter whether the buying signal you get is overt, passive, or simply observed – what does matter though, is that you get the signal, you know what to do with it, you take advantage of it, and you serve effectively in your role as an intermediary between what your customer needs, and what your company offers.

Building a Best Practices Warranty Management Program for 2016 – and Beyond

How Best Practices Organizations Are Positioning Themselves to Drive Revenues, Reduce Costs and Compete More Effectively

Putting Warranty Management Metrics in Perspective

Each year, Strategies For GrowthSM (SFGSM) conducts a series of Benchmark Surveys among its outreach community of more than 40,000 global services professionals. Total responses for the updated 2015 Warranty Chain Management Benchmark Survey, conducted over a six-month period ending in Q3 2015, are in excess of 225

Overall, global survey respondents identify the following as the top factors that are currently driving their ability to optimize warranty management performance:

  • 56% Desire to improve customer retention
  • 50% Post-sale customer satisfaction issues
  • 37% Customer demand for improved warranty management services
  • 27% Product defect-related costs
  • 24% Mandate to improve service profitability
  • 21% Mandate to drive increased service revenues

However, in order to effectively execute on each of these drivers – and strive to attain Best Practices – respondents then cite the following as the most important strategic actions already in place at their respective organizations:

  • 52% Develop / improve metrics, or KPIs, for advanced warranty chain analytics
  • 39% Streamline parts return process to improve overall efficiency
  • 35% Improve warranty management-related planning and forecasting activities
  • 32% Restructure for improved Warranty Management oversight & accountability
  • 31% Foster a closer working collaboration between product design & service

How well an organization steps up to each of these drivers by taking the most appropriate – and effective – strategic actions will ultimately determine its prospects for successfully attaining a desired Best Practices position in the global warranty management services marketplace.

Based on the updated results of the original SFGSM benchmark survey, this report provides additional insight into each of these and other related areas that may be impacting your organization’s ability to attain Best Practices with respect to its overall warranty chain management processes – and it all starts with the need to have a full understanding of the numerous processes, policies and procedures used to run your warranty management operations, coupled with the development of a Key Performance Indicator (KPI) program that can be used to measure your success all along the way.

For the purposes of this report, we define Best Practices Warranty Management organizations as those that have attained both 90% or higher customer satisfaction, and reflect average warranty claims processing times of four days or less. Accordingly, approximately 11%, or 25, of the total respondents are classified as Best Practices.

[To obtain a copy of the full White Paper report, or to register for the March 3, 2016 Webcast of the same name, please visit the Tavant Technologies Webcast landing page at: http://info.tavant.com/Warranty_Webinar_2016.html.]