If you own a business, regardless of how high-quality and promising your product is, you will need to create a plan to manage product warranty. A warranty is a deliberate commitment of a company to guarantee some reparation if proven that the product or service they’ve sold is in an unwanted state than originally offered. These issues may arise from the quality of the product sold, a less-than-ideal delivery of service or workmanship.
Most businesses give very little attention on product warranties as they’re regarded as additional cost, that’s not necessarily anticipated. When you have to replace a damaged good covered by warranty with something that is supposed to generate some revenue for your business, it’ll entail cost and drain potential revenue. But planning how to manage product warranties often guarantees more wins than losses for businesses for the main reason that warranties hold the key to customer satisfaction.
Delivering a high-quality product or service is one thing. But in cases where unanticipated mishaps occur with your products or services (which is guaranteed to happen at some point), knowing what to do and doing it the right way matters. Product warranty management ensures that you can deliver on what you committed, and this often translates to a pleasant customer experience, if not exactly customer loyalty.
Common Challenges in Managing Warranty
So let’s say that you have made the right move to plan for handling product warranties, as they’re inevitable in business. You may have anticipated for warranties to come at some point, but how exactly do you manage them?
A lot of businesses now understand the importance of planning for warranties, but don’t have systematic tools in place just yet to make the labor-intensive process of handling them more effective. Here are the most common challenges that businesses go through when managing warranties:
1. The long, arduous process of filing them
When a customer lodges a complaint and files for warranty, it could entail a tedious amount of effort like showcasing numerous proofs to become eligible for some reparation efforts. This arduous task of lodging for warranty can be time-consuming and frustrating for any customer whose expectations were not met in the first place. As a result, customers simply become dissatisfied with the product or service. And when they do, they either choose to forego claiming the warranty or go to your competition hoping for a better experience.
Managing warranties may seem like an investment, but it’s a worthy one for your business. If you hope to offer great quality products and services that will win your customer’s trust and loyalty long-term, choosing not to overlook this aspect of your business can yield better results.
2. Manual and labor-intensive warranty management procedure
Warranties do not only entail cost and take away potential revenue, but they can be a labor-intensive process for any business. If your warranty management process involves engaging external parties such as the case with repair services, that could be labor-intensive. Fulfillment of repair services, for example, normally involves turnaround times, effort, and add-on costs for every single warranty coverage.
The best way to manage potentially repetitive warranty claiming tasks is to automate. Forego manual data gathering with Packtica’s versatile CheckNow authentication platform. CheckNow not only addresses issues with product authenticity, but aids in processing warranty as one of its modular features. With an automated system that consolidates all essential information in one system, you are set to speed up the warranty claiming process, gather consolidated data from multiple sources more efficiently, and deliver a better customer experience overall.
Efficiency will always win your customer over and make it easier for them to trust you. Managing warranties the right way enables you to make it up to your customer.
3. Lack of data insights to drive improvements and innovations
When the warranty procedure is not automated and everything is manually done, consolidating data could be a challenge. When these report claims are coming from multiple sources and formats (e.g. paper documents), this requires massive time and labor to consolidate.
The entire process could affect accuracy of reporting and overall analysis, which is essential for driving enhancements and innovations in the business. It makes sense to automate warranty claims as this makes creating detailed reports on quality issues easier and more efficient. Decisions and analysis that’s founded on accurate data is necessary for addressing issues and enhancing products and services more effectively.
Packtica’s CheckNow System Enhances Warranty Management Practices
Every business is unique, but warranties are guaranteed to come in one way or another, whichever industry you’re from. May it be in the form of product or service, looking after your after-sales support with warranty management solutions in place will help your business deliver value and quality on its own.
CheckNow is mainly an authentication platform. It serves as ASEAN region’s no. 1 authentication platform enabling businesses in the region to do a lot of powerful things. Its major key features include authentication, geolocation, engagement, and traceability – a massive cohort of benefits for businesses to take advantage of and help enhance their supply chain.
Packtica’s CheckNow system is a two-way communication channel between the consumers and the platform subscribers that enable modular features such as marketing, warranty, raffle system, and surveys, among other features, to become possible, too. Through the unique QR code scanning mechanism that supports product verification and product authenticity, Packtica offers brand protection, supply chain traceability, and big data analytics to multiple businesses and organizations.
Through its persistent efforts to provide superior quality holographic solutions, Packtica has grown to become a leading security packaging and printing label in the industry since 2010.
Today, we continue to enable businesses by ensuring product security and product authenticity amidst a continually changing market. Finding intelligent brand protection solutions to fight against counterfeit, price dumping, piracy, and parallel imports, among others, fuels us.
If you’re on the lookout for business partners to help fight against major product security issues that are widespread in the market today, count on us to work with you every step of the way. For inquiries, email sales@packtica.com.ph or contact +632-8842-0430