Digital Warranty Management in Electronics Industry

Digital Warranty Management is empowering each sector. It is not a trend but a need now. Digitalized supply chain management backed by digitalized warranty activation is a tool for brand authentication.

The Electronics Industry has taken a step ahead by embracing Digital Warranty Management based on IoT. Gone are the days of conventional warranty platforms. Only those products seem to gain customer attraction which follows the track of digital warranty.

DWAM(Digital Warranty Activation Management) is a QR code-based one-stop solution for warranty management. Its features ensure to help the electronics brands in overcoming their supply chain distortions and fulfilling warranty promises.

Challenges faced by Electronic Brands

With the widespread competitors and distributors, warranty management has become the most pressing issue in the electronics industry. Due to the absence of visible points on the supply chain, companies are facing distortions in their revenue. The problem seems to be rising due to the increase in fake warranty claims and the lack of effective digital warranty settlement schemes.

• Fake Warranty Claims:

Due to the traditional method of bookkeeping for managing warranties, there is an upward trend in fake claims and thus, the expenses. The only reason responsible is the lack of authenticity mark on each product. It leaves multiple ways open for the production of fakes and hereby, fake claims. 

For e.g. in the case of mobile phones, until QR codes started taking over, iPhone copies and fake claims were ruining the market.

• Increased Cost:

The cost involved in servicing and maintaining warranty claims is an additional expense for the manufacturer. Maintenance of warranty logistics in offline mode is not only time-consuming but also an expensive task. Additionally, the lack of high-tech-digitized means causes customer dissatisfaction. They are forced to wait for a long time to settle their warranty-related issues..

• Loss of Customers:

Increased fake products followed by time-consuming warranty claim management procedures leads to customer dissatisfaction. Ultimately, customers tend to shift to competitors to receive hassle-free services. Furthermore, a non-digitalized supply chain results in a lack of coordination among departments resulting in a delay in warranty claim settlement time.

     4. Lack of Data:

Due to the absence of digital databases, electronic companies are suffering from insufficient records. Additionally, this makes it easy for fraudsters to interfere with paper based warranty tools. The transfer of information while dealing with service centers to settle various issues also takes time. It results in difficulty to draw up service documents in the correct manner.

Solutions provided by DWAM, GENEFIED’s QR-Code product.

• Paperless Warranty Management:

Digital Warranty Management is a paperless tool. It is highly effective when it comes to managing warranty claims and returns. The performance of the QR code-based warranty activation tool has proven its efficiency to our clients in the electronics sector. 

• Data Management:

Digitalised Warranty Activation Management(DWAM) has benefited our industry partners with complete automacy. The history of each product, along with the free services taken, etc can easily be maintained in digital databases. This prevents data manipulations.

• Time and Cost Management:

Pre-printed QR codes are the pathway for the functioning of DWAM. QR codes provide integrated supply chain solutions. Electronic brands have saved huge costs which are otherwise incurred in operational management. Paper-less warranty management is preferred due to additional advantage in terms of cost and time profit

• Harnessing Fraudulent Claims:

Each product has a unique QR code. This prevents the counterfeits from entering into electronics’ products supply chain. While activating the warranty on the date of purchase, the customer can continue only after scanning the QR code. There is no chance for the company to suffer in terms of fraudulent claims by fake products. All the data is automatically stored on the date of purchase in online systems maintained by the manufacturer. Any fraud can easily be detected instantly.

• Customer Retention:

QR code-based warranty management prevents delays in warranty processing. DWAM has led to the replacement of warranty cards with digitalized solutions. Our clients have been able to settle the claims without any hassle and delays. Thus, making the customers satisfied and enhancing their loyalty, simultaneously. 

• The loyalty of Supply Chain Partners

QR code is the means to not only detect fraud, settle claims, but also to retain loyal chain partners. This is possible via multiple advantageous QR codes. The retailers can perform their operations with ease and practice supply chain management.

• Brand Authenticity:

Digitalized Warranty Management enhances the credibility of electronic products. Consumers depend upon the warranty claims and promises while purchasing electronics like AC, watches, etc. If the warranty claim management is based upon QR codes, the brand is considered highly credible in the market. Thus, improving the overall image of the company.

How to take advantage of DWAM?

If you wish to drive success for your business via QR Code technology solutions, contact us now.

Genefied is the QR Code services expert. Its digital warranty product, DWAM, has already been doing rounds. It is a one-stop solution that shall help you reap the benefit in terms of :

• Anti Counterfeit

• Digital Warranty Management

• Retailer and Customer Loyalty

• Brand Goodwill

Let Genefied help you design the defect-free digital warranty strategy for your brand.