Warranty agreements are very important for every business as they cover the insurance of a device or equipment for a certain time period. Insurance time period can differ per manufacturer. Warranty reimbursement is very important for every business because the total cost of a device or equipment also includes the warranty cover for that asset. Therefore, getting back all those warranty dollars are very necessary for sustained success of your business module. During the warranty period every manufacturing defect or repair is covered by the manufacturer. Therefore, it is absolute paramount to file every single claim to reduce the cost of maintenance and repairs. Sometimes you are entitled to warranty money and leaving that on the table unclaimed is not a successful business practice.Read More
The most critical part of warranty management is the tracking and timely filing of claims. Therefore you need a properly documented and well managed warranty tracking management system. Without the knowledge of the warranty due date, you may end up losing your warranty claims and it may cost you from your pocket to repair your equipment or assets.
To avoid this unpleasant situation you can start implementing a warranty tracking system for your company. Here are few ways you can effectively implement a warranty tracking system and understand the importance of implementing it.
Warranty Agreements Explained Properly
The first and most important part of implementing a warranty tracking system is to understand the terms and conditions of warranty agreements properly. Whosoever in your team is responsible for looking after the warranty period and the warrantable parts along with warrantable labour must be fully trained about the warranty agreements. By making sure that your team knows when to file the warranty claim, it reduces the chances of missing out on any legitimate warranty claim.
If you do not have a warranty tracking system and to keep track of all the important dates about your warranty period, it becomes very difficult to track the warranties of all the assets. Vehicle managers can easily lose out on potential free warranty checkups of vehicles without implementing a proper warranty tracking system. Therefore, a manager must ensure that the whole technician team understands what is warrantable and effectively tracks the warranty period of all the equipment, parts and trucks. This will ensure the faster filing of claims and warranty reimbursement.
Implement Proper Documentation
The second step of implementing a warranty tracking system is to implement a proper documentation process. Warranty claims filed without any documentation backup can be denied very easily. To enhance your chances of warranty claim reimbursement, it is very critical that you must create a detailed work order for each claim. In your documentation you must outline the complaint, cause and what measures you took to rectify the issue. This way you will be able to claim all your warranties without delay, because an effective truck repair shop software prevents you to pay excess for repairs of the assets, equipment and parts that are warrantable.
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Truck managers also get the timely information about where the assets are standing on a warranty period. This warranty related insight prevents the truck managers missing out on any opportunities of warranty claims. Proper documentation also helps the truck managers judge whether the warranty is really worth it.
Understanding and Utilizing Your Warranty Coverage
Understanding your warranty agreements is absolute paramount and so does its proper utilization. By thoroughly reviewing all the agreements, you can gain clear insight about your warranty agreements. This will help you clearly understand what qualifies as warrantable. All this knowledge helps your team determine when to file the claim. All the standard warranty agreements come from the manufacturer with every new purchase.
Now the truck managers can also get some extra coverage for the vehicles by negotiating with the manufacturer. Once the trucking manager figures out what are his requirements regarding a warranty coverage then he is better placed to negotiate with the manufacturer. This is where an effective warranty tracking system helps the managers by providing data and knowledge about all repairs and warranty claims.
Sometimes we get tempted to purchase the additional extended warranty coverage for the assets. But you have to track your warranty expenditure to check whether it was worth it or not. Tracking warranty claims is very critical to find out whether the extended warranty is worth spending extra money.
Utilize a Good Truck Optimization Tracking System
Quality of data is very crucial for enhancing your warranty reimbursement chances and recovery of claims. The best way to get the quality data is by implementing a good truck optimization tracking system.
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Truck optimization tracking system brings down the physical paperwork to almost zero and avoids any human error alongside it. You don’t have to rely on your memory or manual work to file a maintenance claim. Most of the truck managers clearly see an improvement in their warranty reimbursement by implementing a good truck repair software.
You can clearly see why implementing a warranty tracking system is so critical for every business. When you spend a good fortune on buying any asset then it is also important to ensure that your assets remain intact for a good long time. You can easily do so by implementing a proper warranty tracking system and filing timely claims.