Warranty Management Strategies for Service Organizations

This guide provides an analysis of warranty management practices and their impact on organizational revenue streams. The paper is based on the 2020 Warranty Chain Management Benchmark Survey conducted by Strategies For Growth, which involved input from 105 warranty management professionals. The findings reveal that warranty management is evolving from a cost center to a profit center, with 63% of organizations now operating as independent profit centers. The guide outlines key factors influencing warranty management, including customer satisfaction, retention, and demand for improved services. It also details the current use of technology applications such as CRM and ERP, which are essential for effective warranty management. Additionally, it discusses the performance metrics used to evaluate warranty services, highlighting customer satisfaction as a primary KPI. The document emphasizes the importance of continuous improvement in warranty management practices to achieve best practices and meet customer expectations.