Service Contract Management

The Problem   

Pay attention to customer retention. Manufacturers often lose customer contact after warranties expire, relinquishing valuable insight into customer satisfaction and performance of aging products. They are challenged to discover new methods of extending customer relationships that reinforce brand loyalty and generate revenue.

Service Contracts forge a deeper connection to consumers while adding a new profit center to the business. Unfortunately, many manufacturers don’t have extended warranty programs and ones that do frequently have programs that are manual, paper-based and inefficient. Often businesses lack the formal processes and systems to properly support the sales and management of service agreements disconnecting them from their retail partners and customers.

Our Solution

Automating an in-house extended warranty management system enables manufacturers to generate significant profit while increasing customer loyalty by controlling and monitoring the customer experience throughout the product life cycle. Trade partners benefit from empowerment to sell and service customers faster and completely. Consumers benefit from purchasing extended warranties by having no unforeseen expenses and receiving service by approved technicians with factory parts.  Learn more in our Drive Profit and Customer Loyalty with Extended Warranty webinar.

ServiceBench Service Contract Management

The ServiceBench Service Contract Management solution simplifies the creation, sales and management of extended warranty services. Manufacturers can build service plans of product offerings with tiered pricing then manage customer contracts with ease. Trade partners are more productive with an online system that enables quicker approval of contract sales and streamlines the scheduling and adjudication of extended warranty repair claims covered by the service agreements. Solicitation services for creative, direct mail, web sales, and telemarketing are included for additional marketing support.

Powerful analytics monitor contract performance and profitability as well as identify cross-sell and up-sell opportunities. Trade partner sales and claims can be analyzed to maximize results. In addition, reports are easily generated for insurance and compliance requirements. 

The ServiceBench Service Contract Management solution provides the essential foundation for driving a profitable extended warranty program. Companies can devote their resources strictly to efficient sales and service delivery that earns customer loyalty.

ServiceBench Service Contract Management consists of the following modules:

Contracts
The Contracts module enables you to create service plans of product offerings and pricing, register existing contracts including start and stop dates, manage contract sales and assist with insurance and compliance requirements.

Partner Sales
The Partner Sales module enables selected trade partners to sell service contracts, facilitates multiple pricing tiers and monitors sales and claims by business partner.

Solicitation
The Solicitation module provides the complete solution for creative, direct mail, web sales, telemarketing and renewals. Lead sources include registrations, claims, customer inquiries and external sources.

Service Contract Analytics
Analytics software for managing extended warranties provides easy-to-use dashboard reports on performance and profitability of service contracts with drill-down capabilities. Reporting options can include service contract SKU, model and brand, product category, service plan, bundles, geography, service type and earn-through or forecast revenue-to-claims. Analytics support root-cause analysis and management reporting.