Delivering Value Chain Performance Through AI in Warranty
Long gone are the days when we had to remember dates for our next free service, oil change, tire rotation, wheel alignment, etc., but time has changed now, these days we receive notifications about these things via SMS, calls or e-mails. Do we comprehend what happens, what components come together so that your mobile phone can chime in a juicy offer on your next car service? Let’s just clear the air about Artificial Intelligence (AI) first to completely understand why it is a driving force that every organization wants to do something with it. AI in its crudest form is reacting to scenarios with actions that are meaningful but isn’t that what we humans do! Yes, but when we consider thousands of customers with vehicles bought at various times, with multiple requirements and problems, the number of data points run into billions, and it becomes humanly impossible to make even a tiny impact. This is where AI becomes the pivot to recreate success in all the scenarios and for all the data points. With the vast amount of data, a human would get overwhelmed to act accurately, whereas an AI works better with a large number of data, it can create and evaluate patterns in the data that hold good and learn from them. It can create new actions and repeat old actions to any amount of data points without fatigue. Aftermarket is the perfect place for an AI system, the vast dealer network, millions of vehicles, each with thousands of components that are serialized, and many more non-serialized parts, numerous variants, and configurations. That’s all well and good only if it benefits all the stakeholders in the aftermarket process, customer, manufacturer and the dealer. As a manufacturer, they can benefit at every stage of the product lifecycle; AI can help with product design, product safety, R&D, Material design, and styling. It can speed up the design and production of new products; AI can manage the supply volume better and in a streamlined manner. All these improvements add up to provide an edge over other players in the market in cost and market share. Like all businesses, the dealer will always benefit the most from a returning customer than a new one. The real money is in service, spares, and campaigns on the existing models of vehicles. AI can help with a predictive and preventive plan for thousands of customers and help improve the total earnings of the dealership. Additionally, the credibility that the dealer amasses with these transparent campaigns would be immense and everlasting with the existing customers and new customers as well. Most of the customers know little about servicing the vehicle that they are driving, many would not even know all the components, this lack of knowledge is a curse to the customer. Customers will want to come back to authorized service centers if there is a transparency, constant support system as well as a positive experience with the brand. AI can help with all these scenarios, help in the analysis of the vehicle for faults, DIY repairs, deploying services such as road assistance and service dealers and make driving more convenient. In Conclusion: We are always in search of a better solution, a better way to deal with issues and problems, AI is that tool that can deliver at all the above and many more scenarios and help grow Aftermarket revenues, after all, everything from lead-scoring to car-sharing to vacation-rentals has been disrupted through AI. Customer Convenience is essential for brand survival. Artificial Intelligence and machine learning can increasingly be deployed to manage customer experience across ecosystems. Meet our AfterMarket experts at Warranty Chain Management conference, WCM 2018 in San Diego from March 6-8, Booth 11.
Why ‘Repeat’ Customer is the King
Post-sale services aim to create and reinforce positive brand image in the minds of customers. They are an essential component of the strategy to retain existing customers. Depending on the industry and customer demography, acquiring new customers can be 6-10 times costlier than keeping existing ones. A significant factor influencing the customer’s decision-making process is the ease of access to post-sale services and how promptly the current company has honored the warranties of the purchased product or service. Unreasonably long service time, or prolonged disruptions to the customer business or daily life due to faulty products, leaves a negative impact on the customer. As manufacturers consider post-sale services, the warranty is often viewed as a cost center, resulting in below par post-sale service offerings. Warranty Systems to the Rescue Warranty claims processing systems act as an essential enabler in achieving the post-sale service objective by providing the following benefits. 1. Self Service: By leveraging customer warranty portals, the end customer can clearly determine the current warranty status of the product and the extent of coverage, thereby enabling the customer to approach the correct post-sale service provider for resolution, saving both time and money. 2. Hassle-Free Warranty Claims: Simplicity in submitting and processing a claim, maximum automation in claims processing by using a business rules engine, and auto-detection of coverage and claims eligibility vastly reduce claim processing time, enabling service providers to provide post-sale services to the end customer efficiently and within a set time frame. 3. No Ambiguity in Claims Processing: As the claim processing is driven by an automated set of business rules, clear and non-ambiguous reasons are provided when a claim is rejected, thereby reducing the chances to create a negative brand image in the mind of the consumer. 4. Recall Campaigns: Warranty systems enable efficient handling and implementation of product recall campaigns. This allows customers to get defective products fixed free of cost, before experiencing a failure, which reduces the risk of the customer having a bad experience with the product, resulting in a positive brand image in the mind of the customer. 5. Maintenance/Service Contracts: Service contracts enforce periodic maintenance and overhaul of the products, thereby extending the product life and performance parameters over an extended period. 6. 360-Degree Visibility: Warranty systems provide complete visibility of the service life-cycle to the customer, enabling the customers to know and predict the exact time frame in which the products will be serviced, allowing them to assess the corresponding business impact accurately. A Happy Customer Is a Repeat Customer Seamless post-sale services, along with minimum disruption in the daily life or business of a customer, add to the positive product experience. An integrated warranty claims management system plays an integral part in re-enforcing a positive brand image in the minds of customers. Considering warranty cost as a necessary expense to retain existing customers will bring a change in manufacturers’ mindset, encouraging them to build a robust post-sale services offering. Tavant at Automotive Warranty Management Conference 2018 Tavant is excited to sponsor the Automotive Warranty Management Conference and showcase our enterprise warranty solution, Tavant Warranty On-Demand, offered on the Salesforce Cloud. To experience precision and quality in aftermarket warranty, connect with our warranty experts today and schedule your PERSONALISED DEMO!
Kubota Invests in Enhanced Warranty System with Tavant
GRAPEVINE, Texas August 14, 2018 Kubota Tractor Corporation today announced a significant investment in its procedure for processing warranty claims, including a new partnership with Tavant, a leading provider of aftermarket solutions. Going into effect in early 2019, Kubota will deploy the Tavant Warranty platform as its sole application for handling warranty claims and related aftermarket business processes. The platform will help Kubota enhance its service quality and operational efficiency when processing and tracking warranty claims. Kubota is investing in this improved warranty system to benefit its network of 1,100 dealers nationwide. Tavant’s warranty platform is built to help automate and self-check claims during processing. Upon deployment, the system immediately reduces lead times and accelerates throughput rates. It enables an integrated workflow in which all stakeholders can work toward a common objective to eliminate errors, reduce warranty spend, improve product quality, and enhance end-customer satisfaction. “We chose to reinvent Kubota’s internal warranty process to realize greater transparency and higher efficiency for our dealer network,” said Todd Stucke, senior vice president of marketing, product support, and strategic projects for Kubota Tractor Corporation. “Business processes around warranty claims are part of the services we offer to our stakeholders, and we always want to offer the best products and experiences. This new offering will help Kubota maintain the high level of service and customer satisfaction that is expected from all aspects of our company.” “Because warranty is a complicated process, with hundreds of system components to track and many IT interdependencies, we chose to work with Tavant because of their knowledge of the manufacturing sector and their in-depth experience in the development and deployment of complex enterprise systems,” continued Stucke. Commenting on Tavant’s growing warranty management business, Sarvesh Mahesh, CEO of Tavant, said, “The TWOD platform grew from our extensive work with several manufacturers across the globe. The warranty process was one of the greatest pain points for our clients, so we developed a sophisticated platform to solve challenges in claims processing, supplier recovery, and customer satisfaction. Working with an industry leader such as Kubota is a rewarding validation of our software and of its clear value-add to aftermarket operations.” About Kubota Tractor Corporation Kubota Tractor Corporation, Grapevine, Texas, is the U.S. marketer and distributor of Kubota-engineered and manufactured machinery and equipment, including a complete line of tractors of up to 170 Gross hp, performance-matched implements, compact and utility-class construction equipment, consumer lawn and garden equipment, hay tools and spreaders, commercial turf products and utility vehicles. For product literature or dealer locations, contact: Kubota Tractor Corporation, 1000 Kubota Drive, Grapevine, TX 76051, (888) 4-KUBOTA [(888) 458-2682], Ext. 900, or visit KubotaUSA.com. Find Tavant on LinkedIn and Twitter. About Tavant Warranty On-Demand Tavant Warranty On-Demand is an AI-powered enterprise warranty platform offered on the Salesforce cloud. The on-demand platform offers end-to-end warranty lifecycle management and is the only solution of its kind on the force.com platform. It provides cross-functional integrations with legacy and ERP systems for data consistency and integrity and enables organizations to reduce warranty costs, increase supplier recovery, and improve aftermarket efficiency. Media Contacts: Kubota Newsroom 877.582.6826 [email protected] Vibhor Mishra Tavant 408.519.5400 | [email protected]
Knowledge Brief – Warranty Reserves and Accrual Rates Management
In the aftermarket business, the warranty reserves determine how serious a manufacturer is about their after-sales strategy. According to reports from Harvard Business Review, businesses are focusing on their after-sales strategy to generate additional business and improve customer satisfaction. Here are the top 3 things that give a better perspective about warranty reserve: 1. Basics of Warranty Reserve and Accrual Rates: Warranty Reserve is a fund maintained by the manufacturer to meet warranty expenses. The warranty reserve balance is the balance left after deductions of claim expenses for the year. The accrual rate is usually a fixed percentage of sales and is managed by the finance department of the company. The finance department can adjust the accrual rate to manage company earnings. Hence, management of warranty reserve and its accrual rates becomes crucial for a company. The finance department of a manufacturing company should ask these five basic questions to manage and analyze warranty reserve information: What is the opening balance of the warranty reserve? What is the current additional reserve including this year? What is the status of warranty expense? Are there any cost adjustments to the reserve? Are there any external factors, such as currency fluctuations, that impact the warranty reserve? 2. Influencers of Warranty Accrual Influencer 1: Manufacturing Quality The manufacturing quality of a product dictates the future course of a company. Companies have paid huge penalties and suffered declining market share due to poor product quality. Quality manufacturers invest in a robust Product Quality Management System that streamlines complex quality management processes and integrate efficiencies into the system. An efficient product quality management system helps identify and fix issues faster-providing insights into current manufacturing processes. These systems have a positive impact on warranty reserves by reducing warranty expenses. Influencer 2: Product Mix Every new product launched by the manufacturer could have newer product-related issues. These issues need to be analyzed and documented by the warranty teams to determine corrective and preventive actions and may see a surge in warranty expenses during this period of product stabilization. This influences the warranty reserve. If these scenarios occur for a series of products, the warranty reserves suffer substantially. The new product launch is probably the most precarious activity and can also be a challenge sometimes. There is no historical evidence of selling a product or offering warranty, upon which a manufacturer can rely to avoid the warranty impact. Influencer 3: Changes in Warranty Coverage Period Marketing initiatives can improve product sales by providing extra warranty coverage. The extra warranty coverage requires loading the company’s existing warranty reserves. This, in turn, increases the average repair cost per unit. Disclosing Accrual Information: Some U.S. regulations, such as FASB interpretation 452, require a manufacturer to disclose the warranty terms, accounting policies and sources of funding of the warranty accruals. U.S. regulations suggest that the Extended Warranty Cost reserve be handled differently than standard warranties, the costs of which are recognized at the inception of warranty. There are many accounting methodologies to manage accrual information; some of the popular ones are: Bornhuetter-Ferguson Test A Priority Average Age of Warranty Claim Times Annual Spend Active Life Approach Calendar Year Payments to Revenue Approach A good Warranty Management System must have reporting capability on metrics, such as: Average warranty cost per vehicle Breakup of costs by Parts, Labor and other Services Relation between product failures and warranties Top product models causing major warranty expenses These metrics will give an in-depth understanding of failure information and expenses incurred against each failure and help connect the dots between reserves vs. expenses. Tavant Warranty is a flexible, user-friendly, and effective warranty management solution for the complete warranty lifecycle of original equipment manufacturers and aftermarket industries. Its unique cross-functional integrations structure connects business departments and leads to a rapid reduction in warranty costs and reserves, increased supplier recovery, and enhanced reserves forecasting accuracy. The system backed by Artificial Intelligence (AI) results in better workflows for manufacturers, which in turn improves cash flow, thereby improving financial health and profitability for the organization. “Tavant Warranty is a one-of-a-kind, AI-powered solution that helps organizations maximize their aftermarket revenues by over 2%, reduce claim processing time by 30%, increase supplier recovery by 50%, eliminate fraudulent claims, improve product-return cycle time by 25%, and helps you improve your warranty reserves” Information.
Tavant to Showcase its AI-Powered Warranty Solution at the Warranty Chain Management Conference
Tavant Warranty experts to speak on Parts Return and Minimizing Warranty Costs
How Mobile Solutions Can Reduce Warranty Costs
As technology advances every day, so do customers’ expectations from manufacturers. To be competitive and to survive in the market, manufacturers must provide improved solutions with lower costs. These goals can be achieved through mobility solutions. 1. Maintenance of Accurate Data Unavailability of exact product and customer information is a major challenge in the warranty industry. Mobile solutions help in capturing that exact data. Field service personnel can visit the customer site and capture the proper customer address, contact information, usage details, and service information. Maintenance of proper data helps in providing the correct coverage and maintenance, which in turn, helps to reduce warranty costs. Proper data also gives insights about warranty problems. 2. Lower Transit Time Field inspectors visiting the customer site can check machinery, perform the repair at the customer site, and update the problems directly from the mobile. The warranty team can start working on the case immediately. This reduces delays between various departments, speeds up the process and reduces the warranty costs. 3. Improved Process Mobile solutions help in reducing paperwork. When using a manual process involving paperwork, there’s a chance valuable data could be missed. Mobile solutions help in avoiding duplicate entries and important data cannot be missed since everything is maintained electronically. Regular reminders are sent to dealers, contractors, and field inspectors. This improves the overall warranty process, which in turn reduces the total cost. 4. Real-Time Connectivity Mobility solutions help in managing the process from any location. GPS monitors can be integrated with a vehicle to track its location. Telematics help to monitor the driving pattern of the vehicle, which reduces fraudulent claims and parts and service costs. It also helps to identify failures earlier, which helps to increase warranty cost savings later. 5. Increased Productivity Mobility solutions provide an option for employees to contribute to business process even while not at the office, which increases productivity. For example, the warranty processes like Warranty Registration, Arrival Condition Report, and Inspection can be done during installation/delivery from the customer site itself. The warranty team can start working on the claims immediately. This helps in improving productivity, thereby reducing warranty costs.
Reasons Why Extended Warranties Are a Must
In 2016, $23 billion on protection plans and $17 billion on vehicle service contracts were spent by consumers on appliances, mobiles, electronic appliances and computers1. Extended warranties are one of the largest businesses in the U.S. How is an extended warranty beneficial to a customer and why should they opt for one? By ‘mobiles’ I think you mean smartphones, but we don’t say that in the U.S. Is that what you meant? When you want to keep your vehicle for a longer period of time: When we like our vehicle, we want to keep it for a longer period of time. An extended warranty helps by providing warranty coverage beyond the warranty tenure to help maintain the vehicle for a longer period. An extended warranty or vehicle protection plan helps to keep the vehicle running smoothly and hassle-free. Repairs are more costly than having an extended warranty on the vehicle: Repair bills on a vehicle can often be very costly. Service appointments are also tiresome and inconvenient. The more you drive your vehicle, the more you will pay for maintenance costs and you run the risk of more repairs. Having an extended warranty saves you money in the long run. Customer satisfaction through peace of mind: The most important aspect of an extended warranty is peace of mind. Owners pay a little more to have an extended warranty, but one of the main benefits of warranties outweighs the cost: peace of mind. That peace of mind assures owners that any needed repairs will be covered. Purchase options: Most consumers mistakenly believe an extended warranty must be purchased only from the dealer or the OEM for a vehicle — not true. Owners can purchase extended warranties from other companies that offer more competitive warranty terms. Consumers can analyze different coverage plans and shop for the one that best suits their needs. Coverage options: There are companies today that offer options to purchase an extended warranty even after the original warranty has expired for the vehicle. Owners are not compelled to buy an extended warranty only for the vehicles for which the warranty is going to expire. Owners have the option to purchase extended warranties for the vehicles for which the warranties have expired. Based on the owner’s needs, the owner can opt for better coverage that suits his requirements. Sometimes, the extended warranty is never used. Buying an extended warranty is similar to health insurance, which we might never need, but we all know that “precaution is better than a cure”. In cases of a large repair bill, an extended warranty acts as a savior and covers all the expenses. We’re listening. Have something to say about this blog post? Share it with us on LinkedIn, Facebook, Instagram and Twitter. OR Please add your thoughts, ingenious analysis and novel strategies in the comments section below. We look forward to hearing from you. Meet our AfterMarket experts at Warranty Chain Management conference, WCM 2018 in San Diego from March 6-8, Booth 11. References: http://www.jdpower.com/cars/articles/tips-advice/pros-and-cons-buying-extended-warranty-car
Improving Buyer Experience through Customer Data
Gain more insights into the aftermarket space to improve how a customer feels – every time you send an offer, provide a service, or advertise a new product. A digital registration platform integrated with analytics can make an organization’s customer-experience strategies powerful. Organizations often lack one-on-one interactions with the most important stakeholder in their business — the customer. Businesses need to capture detailed customer expectations of the products they use. When businesses understand those expectations, they will understand the users’ experience and know what proportion are going to become brand ambassadors. Registering products after sale requires just a mobile device. Even without one, a simple online data-capture form links the organization to a host of information, which can be used to improve customer experience in the aftermarket. However, to add value throughout the product lifecycle, companies need to interact with customers, analyze the data, and determine what customers want and what they may need in the future. Then companies need to respond to that data and improve services and new products accordingly. I think the part about a mobile device is unnecessary. Why a Digital Platform? A digital platform cost effectively streamlines omnichannel communication. Using the data, you can inform customers of the latest mix of offers, insider information, warranty liabilities, and product-use tips — exactly how the customers prefer. This increases customers’ tendency to rely on one brand. Capabilities to integrate the product-registration process with analytics gives an organization the power to improve customer experience holistically. A multi-channel brand engagement model is the foundation for cross-selling and improving customer confidence and brand loyalty. Stressing Simplicity The importance of convenience can never be under-estimated in a customer-facing process. The registration, and all the activities thereafter, should be designed accordingly. A single digital platform at the OEM’s end that allows the customer to interact with the company is increasingly being considered. After the sale, a customer should be able to register the product by QR code or bar-code scan, social media plug-ins, a mobile app, or a website. These channels provide the company with a data set, which includes valuable personal information, feedback, and customized tips on benefiting from the product. The communication from the OEM’s end may differ depending on age, location, product details, etc. Analytics and Automation Software capabilities to use the information gathered are vital. Analytics helps an organization use registration-level information to deliver improvements and customized information. From identifying issues customers may have to cost-effective changes in product design, analytics plays an instrumental role in converting data to insight-driven actions. With simple dashboards supported by back-end intelligence, a product-registration platform, integrated into the rest of your technology setup, improves brand image. The AI-automated, customer-facing activities align services and products to market preferences. Organizations need to ensure simplicity in the customer’s registration platform interface. The challenge with that is striking a balance between respecting the customer’s time and maximizing the feed for analytics. The value generated each time is directly proportional to the depth and accuracy of data discovered. Interactive data also plays a vital role. With data backing your organization, you can maximize the engagement through the right content and improve insights in the long run.
Chatbots and Their Role in Consumer Lending and Warranty
I joined Tavant in the Mobile Team and soon got an opportunity to get my hands dirty on Chatbots. As we all know, Tavant is a leader in providing services in Consumer Lending and Warranty, I decided to pursue a chatbot for each of these use cases. I plan this series over 3 parts, where towards the end we will have a fully functional chatbot Mobile app. Let me first define a Chatbot. How do they work? How do I build my own ChatBot? How can I use chatbots to help my clients? I’m sure these questions are running through your mind since chatbots have gained popularity and occupy a niche space in user engagement. You might have already interacted with chatbots on social media and not realized it! Now is the perfect time to delve into this exciting world of chatbots. So what is ChatBot? A ChatBot is a program that simulates human conversation or chat through Artificial Intelligence. Typically, a chatbot communicates with a real person to provide the services like customer care agent, e-Commerce or any Hotel/Cab booking, etc. The chat interface can either be Facebook Messenger, Twitter, slack, or even your own custom chat messenger. Let’s see some examples of ChatBots that are currently available. Example: 1. Book a cab: Want to book a cab? Don’t have a cab booking application on your phone? No problem! Uber has recently launched their Facebook chatbot, which helps you book your Uber cab without installing their app. Experience the chat by clicking here. 2. Ordering a pizza: Hungry? Want to order a delicious pizza? Just use your messenger to chat with a Dominos bot. You can place an order, track your order, and cancel your order by just chatting with a bot. https://vimeo.com/179171202 3. Weather application: These bots are designed to get the weather report of your location. They can also suggest whether you should bring your umbrella before you leave your house. https://www.youtube.com/watch?v=m5ViHWRo9KU 4. News bots: These bots allow you to be updated on your News. You can subscribe to your favorite news topics or you can ask for the latest headlines on a specific topic. https://www.youtube.com/watch?v=8iwxWU-8cuM 5. HDFC Bank OnChat: This is a facebook messenger bot, which helps you recharge your prepaid and postpaid bills, book event tickets, book cabs, etc. https://www.youtube.com/watch?v=6bnKhqZmdsw You should definitely do some research to get an idea of how chatbots are used by companies to provide better customer service. Why chatbots? You must be thinking “Why is this sudden popularity of chatbots in an enterprise?”. Let me explain… According to “Chatbots magazine”—“This is for the first time ever people are using messenger apps more than social media apps. So logically, if you want to build a business online, you want to build where the people are. That place is now inside the messenger apps. This is why chatbots are such a big deal. It’s potentially a huge business opportunity for anyone willing to jump headfirst and build something people want.” So now that you understood the importance of chatbots, the next question which comes to your mind would be “How does a chatbot respond to your message and does the business for you?” To understand their functioning better, let us first see the different types of chatbots out there. Well there are 2 types of chatbots. 1. Chatbot that functions based on a set of rules: This type is limited to certain transactions. It can respond to only a few specific commands based on a decision tree, which a developer may have built. It has limited to no understanding of natural language and contextual meaning. If you say something vague, it doesn’t understand what it is. 2. Chatbot that functions based on Machine Learning: This bot has an artificial brain called as artificial intelligence. You don’t have to be specific. It also understands the natural language along with commands. This bot continuously gets smarter with previous conversations. Bots are created with a specific business purpose in mind. For example, an online store is likely to create a chatbot, which helps you purchase something. UPI apps like Paytm is likely to create a bot for bills payment, mobile recharge, etc. Artificial intelligence: The next riddle you must be thinking over is if bots use artificial intelligence to make them work, isn’t it hard to do so? Do I have to be perfect in AI? The answer is NO, you don’t have to be an expert in AI. Now, we have many readily available AI solutions that are backed by giants like Google, Facebook, IBM to name a few. Things to do for building your first chatbot Figure out what business problem you are going to solve with your chatbot. Identify the right messenger platform(s) like Facebook, Twitter, or design your own interface in an existing mobile app. Set up a server to run your bot. Choose a service to build your bot. Time to see an example of a Chabot in Warranty Management System I went about writing a chat interface in one of our Mobile App for Warranty and was pleased by the final outcome. The chat feature in my mobile app got the user engaged longer than my normal screen flows to complete the same task. Let’s consider a use case where the mobile app has to provide a feature to the user for creating a service request, collect feedback for the last service and allow the user to register complaints and suggestions. Users can also request information about their next service appointment. Also, I built a service to provide guidelines/help from an agent, etc. You can do all this by chatting with a bot. It is an easy, automated, secure way of executing these business services rather than the old traditional way. It’s cool. Isn’t it? I have posted the demo for the same video here Now let’s see the example of Consumer Lending application. The user can ask your assistant bot about home loan services and its eligibility criteria. He can also request for a home loan. And
Mitsubishi Caterpillar Forklift America Inc. Deploys Tavant Warranty System
Santa Clara, Calif. – July 26, 2017 – Tavant, a leading provider of aftermarket solutions for manufacturing industries, announced today that Mitsubishi Caterpillar Forklift America Inc. (MCFA) has deployed Tavant Warranty solution as the company’s sole application for handling warranty claims and related aftermarket business processes. Tavant’s warranty chain management solution is designed to help MCFA enhance its service quality and operational efficiency in the processing and tracking of warranty claims. Tavant Warranty is built on a dynamic business rules engine that helps automate and self-check claims during processing. Upon deployment, the system immediately begins to reduce lead times and accelerate throughput rates. The system enables an integrated workflow in which all the stakeholders can collaborate toward a common objective to eliminate errors, reduce warranty spend, improve product quality, and enhance end-customer satisfaction. “Quality of our products is of the highest priority at MCFA. How well we handle the warranty claim process and how quickly we identify quality concerns, amongst other aftermarket services, has a substantial impact to our business. In today’s technology-driven business environment, efficiency in the back office can be a competitive advantage – and a requirement for ensuring the highest level of customer satisfaction. We chose to reinvent our internal warranty process to realize greater transparency and higher efficiency,” said David Christian, Sr. Manager of Dealer Support for MCFA. “And because warranty is an extremely complicated process, with hundreds of system components to track, and many IT interdependencies, we chose to work with Tavant because of their knowledge of the manufacturing sector and their in-depth experience in the development and deployment of complex enterprise systems,” continued Christian. Commenting on the company’s growing warranty management practice, Sarvesh Mahesh, CEO of Tavant, said, “Our warranty management product grew out of our extensive work with many manufacturers across the globe. The warranty process was one of the greatest pain points across all our clients, so we began to develop a standalone system around this issue based on solving core universal roadblocks in claims processing. The result is that Tavant is now the only company in the world offering a warranty-focused system that is available both on premise and on the cloud. Working with an industry-leader such as Mitsubishi Caterpillar Forklift America for handling the aftermarket business is a rewarding validation of the robustness of our newest manufacturing product—and of its clear value-add to manufacturing operations.” About Mitsubishi Caterpillar Forklift America Inc. (MCFA) Manufacturer of High-Quality Material Handling Equipment Mitsubishi Caterpillar Forklift America Inc. (MCFA) is a leading manufacturer of high-quality forklifts and warehouse products in North, Central and South America and the Caribbean. Based in Houston, Texas, the company distributes three distinct brands – Mitsubishi forklift trucks, Cat® lift trucks and Jungheinrich® warehouse products – through its extensive dealer network. All products are backed by industry-leading customer service and superior product support. For more information about MCFA or any of its brands, visit Mitsubishi Caterpillar Forklift America, Cat Lift Trucks, Mitsubishi Forklift Trucks or Jungheinrich Forklifts. About Tavant Warranty Tavant Warranty is a flexible, user-friendly, and effective one-stop warranty management solution for the complete warranty lifecycle of original equipment manufacturers. Its unique cross-functional integrations structure connects business departments and leads to a rapid reduction in warranty costs and reserves, increased supplier recovery, and enhanced reserves forecasting accuracy. The system results in better work flows for manufacturers, which in turn improves cash flow, thereby improving financial health and profitability for the organization. Learn more about Tavant on LinkedIn and Twitter.