How to Reduce Your Product Warranty Costs

W 4 5 Digitize the Warranty Process This is how you can reduce your product warranty costs Digitizing the warranty claims process puts your warranty service into an auto - pilot mode resulting in reduced service costs and a hassle free experience for your customers . Digitization allows you to convert your warranty expenses into a profit Serialize your Products You should serialize your products so that every product can be uniquely identified and tracked at any point in the supply chain . When any product comes for warranty claims , you can track details like when the product was manufactured , who was the supplier / OEM . Goal 1 ● Use Data Analytics Harnessing and utilizing warranty data is any manufacturer's best bet for reducing warranty costs . Warranty data can be utilized for two major objectives - Improving your customer service Improving your product . 3 Identify fraud , and repetitive claims 2 Automate your warranty process Traditional warranty management processes are manual and labour intensive , thus driving up costs . Automating the process allows brands to manage a large number of warranty claims at once on a single screen , thus cutting down operational cost significantly . By eliminating fraudulent claims early in processing , you save not only money but precious time and resources as well . Frauds can be classified into 2 categories : ● • Duplicate products Customer Frauds