Warranty is a written guarantee, issued to the purchaser of an article by its Brand/Manufacturer, promising to repair or replace it within a specified period of time if the article is faulty or defective. However sometimes the Brands get doped with digital warranty fraud which leads to financial losses.
Warranty frauds occur when individuals or organizations exploit the warranty policies for their own benefits. This form of fraud can be complex and occur with any company that offers warranty on its products.
For Brands that are aiming to be more efficient, Digitized Warranty Solutions can help in minimizing the warranty frauds and streamlining claim settlement issues with customers. This technology is empowering each sector by making supply chain management more secure. Brands can leverage this opportunity to promote themselves by ensuring that only the authenticated products are provided to their customers and warranty is linked to each of them.
Top-notch benefits of Digitized Warranty
An automated digital warranty management system works way better in acquiring and linking the relevant product and customer data. It builds a better brand image with its transparent processes that lead to more customer engagement. When the customers are satisfied with the services that a brand is offering, it generates more revenues and profits for the future.
The innovations taking place in the warranty management systems are satisfying the utilities of both the brands and consumers with practical and original data. It can collect the contact details of buyers, purchase details, Invoice, product and seller details, etc. that helps in further verification of the warranty. Being digital in nature, the brands can easily access the data from anywhere, making the processes more adaptable in nature. Here are the top benefits that a digital warranty management system offers:
- Eliminate Warranty Frauds
To please customers and to earn more revenue, some retailers sell products . In a digitized warranty prevents the fraudulent activities linked to warranty claims. It allots a unique QR Code to each product of the brand. This prevents the counterfeiting practices from maligning the product’s supply chain process as the customer can continue with the purchase only after scanning the QR code. The brands do not have to suffer in terms of fraudulent claims by fake products. All the data will be automatically collected and stored on the date of purchase in case of online transactions. If there is any fraud happening, it can easily be detected immediately.
- Data Management
It is a paperless tool that manages the data with complete automacy. It is highly effective when it comes to managing warranty claims and returns that prevent data manipulations. At the same time, it saves huge costs that usually incur in operational management. It works as an added advantage in terms of cost and time profit.
- Customer Engagement
Digitized Warranty thoroughly retains customer information that leads to better engagement. They will retain only when they have been able to settle the claims without any hassle and delays. In case of any gaps, the product warranty period can be efficiently handled with the retained information. It increases customer satisfaction resulting in higher revenues.
- Brand Authenticity
Digital Warranty management system increases the credibility of the products and services. It encourages the consumers to trust the brand and its core vision. Claims based upon QR codes are considered highly valuable in the market. It improves the overall image of the brand with better operational efficiency and product quality.
With LetsVeriFy Digitized Warranty solutions, secure your brand operations and image. If you want to grow your brand with increased profits and better customer satisfaction, look no further than integrating your warranty management system with digitized solutions. It eliminates the gap present in your business and makes your processes better. Reach out to our brand protection solutions to earn more profits in no time!
How Can Digital Warranty Solutions Increase Your Business Revenues?
Warranty fraud occurs when an individual or organization exploits warranty policies for their own benefit. This form of fraud can be complex and occur in any company that offers warranties for its products. Digital Warranty solutions aim to protect brands from such frauds.
Plus, with these solutions, you don’t need to deal with the regular paperwork to provide credence to products and services. Your customer support team can simply use the product to track its details about warranty, purchase, invoice, customer etc. This helps in avoiding
The warranty management system backed with technology allows your brand to perform well. When customers have assured the authentic products, it builds their trust in your brand and adds to your revenues. Let’s understand how brands can leverage the digitized warranty solutions to promote their potential products and services.
Why should brands choose digitized warranty solutions?
Adopting digital solutions for warranties will deliver the best customer services and eliminate their counterfeited products in the market. It helps them to gather the relevant product and customer data to generate accurate reports. Here’s understand how digital solutions are transforming warranty management, enabling the top brands to adopt it.
- Operations become seamless and transparent through digital registration, activation, and management of warranty claims.
- Links Brands with their customers
- Encourages better brand and consumer engagement by effectively connecting ends of the product’s life cycle.
Technological innovations in the warranty management system are providing brands with real-time and actionable data to attract customers. Being in the digital format, the users can access warranty data anytime and anywhere. It cut down the costs of the brands as the records related to product warranty can be modified, transferred, and managed by multiple users at a time.
How digitized warranty solutions make your work easier?
Earning smart profits is the goal of every business. But, it is possible when there are no gaps in product lifecycle processes. A well-conceptualized digital warranty solution monitors the latest trends in quality metrics that allow your brand to set the benchmark in the early stages of product development. When you are aware of what’s new in the industry, you can improve your operational efficiency. Also, it integrates customer information comprehensively to create better relationships. If there are any gaps in the product warranty period, your team can easily handle them by recalling information and increase customer satisfaction. It brings higher revenues to your business!
Eliminate all the warranty frauds
Many brands suffer massive losses in warranty claims because of undetected frauds. It vanishes their revenues and takes their loyal customers away because of mismanagement in warranty claims. The performance metrics of your products need to be well-defined with strict audit procedures. You must invest in a digital solution that follows all warranty management practices and prevents fraudulent activities related to warranty claims. It will help you to earn a higher return on investment with profitable sales.
Digitized warranty solutions allot a unique QR Code to every product. Counterfeiters will be aware that your cheap duplication practices are under watch. If there is any discrepancy in the supply chain process, it will immediately update you to take the required action.
LetsVeriFy Digitized Warranty Solutions
The warranty frauds are continuously rising. Your product won’t last in the market if it lacks effective warranty management and sets a benchmark in quality metrics. A digital warranty solution is the only answer to this. It sets the base for the long-term retention of your customers, leading to increased revenue. LetsVeriFy focuses on effective practices and enables trackable connections with your end customers. Now you can earn optimal benefits from our digitized warranty solutions. Reach out to us for better revenues!