A Guide to Warranty Management Softwares
Warranty management as a process is viewed by companies as a cost for doing business. The cost of warranty management falls between 4-5% of the total sales revenue of a company per annum. In other words, it is considered as the cost of offering customer satisfaction and towards building better and healthier customer relationships. The value of warranty management has only been realized by companies over the last few years. However, today it is considered as a separate revenue system and has evolved over a long period. Warranty refers to a statement or undertaking issued by a product’s manufacturer regarding the parts and performance of the product for a limited period, as mentioned in the warranty card. It could also be referred to as a performance guarantee for the product given by the manufacturer. If the product starts malfunctioning due to a defect, the manufacturer or supplier would either replace or have the product repaired. What is a Warranty Managemen...