New- Gen Warranty Management Platform
Manufacturers today are facing enormous challenges in the aftermarket space to combat rising expenses related to warranty and improve the post-sale customer satisfaction. The world-wide warranty spends by Auto and Discrete Industry stands at ~ $70 Billion with the Automotive OEMs accounting for $ 30bn+. On an average, OEMs spend 1% to 4% of their revenue on Warranty and related costs. A deeper look at the spend and we realize Product Defect costs (~40%), Administrative Overheads (~22%), Supplier Recovery costs (~15%) and Fraudulent Claims (~12%) are the major factors contributing to the ever increasing cost pressures. These clearly stands out as the Market White Spaces where Tech Mahindra can contribute significantly.
Keeping the above as the driving principals, Tech Mahindra brings to you the “New-Gen Warranty Management Solution” that is tightly coupled with our Connected Car's solution (Telematics) and the Predictive Analytics platform (PRISM) to streamline the operational warranty process and provide end-to-end actionable insights across the warranty management life cycle.
Key Solution Tenets
- Warranty Analytics (Descriptive and Predictive) leading to Next Best Actions at the Business Process Level.
- Real-time on-board diagnostic (OBD) communication to Dealership, Auto OEM and Customers through Connected Cars-Telematics solution.
- Early warning system for better and proactive decision making.
- Warranty Marketing and Campaign Management - Customer Segmentation for promoting Warranty related products based on real-time data analytics.
- Mobility enablement – Ease of Use!!
- Warranty Predictive Analytics, providing patterns and Next Best Actions across the Key Business Processes - Warranty Cost Prediction and Fraud Claim Detection
- Connected Cars Telematics solution sending early warning signals to Dealership, Auto OEM and Customers for potential failure of parts.
- End-to-End Integration with ERP, Dealer Management System, Call Centre/BPO, Service Management and Loyalty Management programs.
Tech Mahindra’s integrated Warranty Management platform helps organizations reduce the Total Cost of Ownership (TCO) by enabling the following:-
- Control product failure and quality issues up to 15%
- Reduce fraud claims by 6-9%
- Improving Supplier Cost Recovery by 2X
- Improve warranty and contract sells by 3-7%