Providing a Quantitative and Qualitative Assessment of the Capabilities and Strategies of Key Warranty Vendors
In the United States alone, manufacturers’ annual costs for warranty claims add up to approximately $23 billion in lost opportunity. Worldwide this cost totals $50 billion or more. It’s clear that warranty management and analytics is major opportunity for product manufacturers and they should embed strategic capability to address it.
- Warranty cost variability is exorbitant within industries and even within individual companies when viewed over time
- Warranty analytics can be viewed as the cornerstone for insight and decision making in a maturing warranty organization
- Sharp growth in the industry over the past year is an indication that many organizations have reached a state of readiness or maturity to utilize warranty solutions