The costs of offering, managing, and covering warranties are significant and can be up 5% of total sales revenue for some industries. Axeda customers are connecting their products to their enterprise business systems to reduce these costs and automate warranty management tasks such as product registration, usage reporting, and illegitimate claim management.
For example, one Axeda customer is placing sensors on their machines to monitor the temperatures and humidity of their operating environments to determine if the machines have been used in compliance with the warranty. The operating environment information enables the manufacturer to detect and refute illegitimate claims.
In many cases, warranties are only valid if the equipment is properly configured and calibrated and uses only the manufacturer’s consumables. With connected products, manufacturers can ensure that their customers meet warranty requirements by remotely monitoring and managing software, configuration files, calibrations, and consumables. Ultimately, integrated product data enhances warranty management processes handled in CRM and ERP systems.
With a warranty management solution based on your connected products, you can:
- Automate product registration and warranty period management
- Maintain up-to-date configurations to ensure security and safety
- Get accurate warranty information and usage to customers
- Better forecast warranty costs
- Capture out-of-warranty leakage to reduce costs
- Detect warranty policy abuse or out-of-compliance usage