Impact of IoT on Digital Warranty Management

IoT is the modern era term that stands for Internet of Things. It refers to the multiple physical objects from all around the world linked via a wireless network. 

It is only via IoT that Brands can establish a robust Digital Warranty Platform.

Devices come installed with chips which makes them digitally intelligent. This intelligence has taken over the need for human involvement. The sensors in these devices are the source of sharing data all over the world. Thus, giving ground for easy operation of Digital Warranty management.

Digital Warranty records each minute detail concerning a product on the internet. Customers can access their products’ details from anywhere around the world. This ensures the flawless activation and the management of warranty via digitalized means. 

IoT is the tool for the functioning of the digital supply chain.

• Effective Digital Warranty Management:

Digital Warranty cannot operate without IoT. Its application is totally dependent upon digital technology. Thus, IoT influences Digital Warranty Management in a positive way. IoT has made it easier for the development and operation of Digital Warranty Management. QR-Code-based Digital Warranty Activation tool is the best in the market. However, its working is null if brands don’t use digital tech. It is a hassle-free activity for the companies and also the customers. The customer need not be tech-savvy and can easily scan the code via a mobile scanner and upload the invoice.

• Detection and Elimination of Fraudulent Claims:

IoT ensures the maintenance of statistical records on online databases. This further prevents fraudulent claims. Digitalized Warranty solutions leave no scope of piracy or fake claims. This has been made possible by the Internet of Things and its applications.

• Reduction in Cost:

Digital Warranty Management is a cost-saving tool when it comes to authenticating your company’s product via warranty card. Automacy of warranty management relies upon the internet. Digital Supply Chain followed by products’ warranty activation, everything becomes paperless. Thus, the overall administrative costs and printing costs reduce as the system becomes completely automated

• Collection of Customer Metrics:

Use of QR Code for product’s warranty helps in storing customer metrics. This information instantly gets recorded in the virtual databases. QR-Code-based digital warranty activation management can be initiated by smartphone. What follows later is the storage of customer data when he fills up his form. This information helps brands in improving product’s quality.

• Enhances Brand Authenticity 

Digital warranty management is easy and smooth. This is backed by effective customer service while dealing with returns or claims. Brand’s goodwill and its authenticity see an uplift. This is only possible if the brand uses digitalized solutions for its warranty management. QR Codes leave no scope for fraud. When used once, they become nil. Thus, customers’ confidence increases and so does the company’s image.

• Customer Retention 

Brands work for consumer’s delight. They utilise customer information for better customer relationships. Customers are attracted to the products when they are assured of their hassle-free warranty management. This is more practical in electronics and automobiles. If your brand is offering Digitally based Warranty Management, you are surely the winner of this race. 

• Increased Revenue

 With the increased authenticity of the company’s product, comes the increased revenue.  Delays in claim management via offline modes often result in the loss of customers. Iot’s applications allow instant help. Tech solutions like QR codes provide instant help. Customers get attracted to your brand. Thus, revenue is bound to level up.

CONCLUSION

Digital Warranty is a hassle-free and risk-free activity. Its working is dependent upon the IoT. Brands offer online warranty management by using IoT. Accordingly, all the warranty related attributes can be stored on the internet. This information is accessible to the company and the customer throughout the lifecycle of the product. This has been possible by adopting IoT and its QR-code based solutions.

In order to convert your Warranty Management into SMART Digital Warranty Management, contact Genefied. Its IoT based QR-Code tech solution for warranty management has helped multiple brands. 

DWAM (Digital Warranty Activation management) is a QR-Code based product by Genefied. You can unlock these benefits for your brand via DWAM

• Prevent Fraudulent returns and claims
• easy communication, 
• boosts the overall quality structure of your product. 
• another way of providing after-sales services to the customers 

Genefied’s digital warranty solution is the one-stop solution for end-to-end traceability. Unique QR Codes prevent their counterfeits and any fraudulent returns/claims.

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