Watch and learn how to increase revenue and improve customer value. PTC’s approach to solution planning, implementation and adoption minimizes risk, accelerates time to value, and ensures maximum return on investment.
When product sales are uncertain and operational consistency is unattainable, more and more, service executives are driven to increase their service profits.
How do they accomplish this? Improvement in warranties and contracts.
What we know:
Manufacturers worldwide spend up to 7% of product revenue on warranty claims each year
In the United States alone, this adds up to approximately $23 billion in warranty claims
Worldwide this totals more than $50 billion
Have you considered the plus side to warranty and contract management? On average, service contracts and warranties contribute 53% of total service revenue; and there’s room to grow…
So what’s holding everyone back?
Functional silos, lost cross-enterprise knowledge, a lack of visibility for improvement
Inefficient parts returns, manual claims processes, poor data quality, low supplier recovery
Warranty processes that don’t consider product issues
An inability to identify and resolve product and service issues
All resulting in:
High warranty costs
Missed revenue opportunities
Low dealer and customer value
Unreliable product and service quality
And because a large impact on warranty cost is the product’s performance, the opportunity to improve warranty means being sure the product performs as intended – or better.
How can manufacturers achieve this? By putting product information at the center of the warranty lifecycle
A product’s performance is tracked by understanding its service events.
This data writes a product’s history
PTC Warranty and Contract Management solution captures it all
Having this complete record creates an as-maintained bill of materials (BOM).
Everyone can leverage the same knowledge to improve product performance and the customer experience.
PTC Warranty and Contract Management solution offers industry-leading analytics to proactively detect issues, anticipate service needs and identify fraudulent claims, directly helping manufacturers to limit overall warranty exposure.
The Benefits: Best-in-class manufacturers who have implemented a strategic approach to warranty and contract management…
Retain customers at a rate of 89% – compared to 51% for those with no warranty and contract management solution
Renew 90% of current service contracts – versus only 40% for those with no warranty and contract management solution
Improve customer value. Improve profits. Increase revenue.
When your product performs beyond expectations risks are diminished, warranty claims are lowered, and service costs are minimized - all contributing to an improved overall service experience for you and your customers.
Increase customer value with PTC award-winning Warranty and Contract Management Solution ptc.com/go/warranty
Watch how Service Lifecycle Management technology solutions empower companies to transform themselves into strategic service organizations that drive growth, profitability and customer value.
PTC's CEO presents why manufacturers must address strategic change in a smart, connected world.
The service provider needs to provide efficient service delivery. With elevant diagnostic information the connected product applications manage information and disperse it to the relevant parties—fleet manager, service technicians, and manufacturer.
Learn more about PTC Service Lifecycle Management
BWIR prefers PTC solutions to help it reach its lean manufacturing goals and connect its organization across product development, supply chain, marketing, sales, and services.
Steve Morandi, SVP, PTC SLM Segment discusses the impact of the Internet of Things (IoT) and smart, connected products on service strategy and customer experience, highlighting examples of companies succeeding with service transformation initiatives.
Whirlpool recognizes the role its plays in increasing customer value and competitive advantage. During this video, Whirlpool engineer, Ken Grace, describes what it takes to be a best-in-class service organization
Learn how leading companies are enabling their people and processes across the service network with a true Service Lifecycle Management system to drive growth and profitability
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Aberdeen's Aly Pinder Jr. shares insight on what best in class service organizations are doing to improve service parts management and overall service performance.
The PTC advantage is fueled by technology solutions that transform the way you create, operate and service products.
Our technology enabled solutions transform the way that products are created, operated, and serviced in the Internet of Things.
PTC solutions help you tackle the real challenges manufacturers and service providers face every day.
See how PTC can help you optimize the system of people, processes and technology to enable greater service performance. Learn more.
Industry leading software technology is at the heart of every PTC solution.
Thousands of Pro/ENGINEER customers have already made the move to PTC Creo Parametric. Learn more.
PTC Global Services helps the world's leading manufacturing companies realize the promise of PTC solutions.
How to select the right provider to optimize application performance
Strategies to make your organization more productive
Whatever your role in the worldwide PTC community, these resources will deepen and enrich your experience.
November 17-18, 2015
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