iTECH: Fleets Increase Payments With Warranty Software Rich
By Mindy Long, Contributing Writer
This story appears in the August/September 2013 issue of iTECH, published in the Aug. 5 print edition of Transport Topics. Click here to subscribe today.
When Asif Rizvi, vice president of maintenance at Crete Carrier Corp., switched to a warranty software management program last year, he not only cut his time to file a claim to a day and a half from several weeks, but he also increased the amount of warranty payments he was able to capture. Now, he expects to see payments increase 80% to 85% in the current fiscal year.
Rizvi isn’t alone. Todd England, executive vice president, maintenance, of C.R. England Inc., Salt Lake City, also has seen a significant increase in his warranty capture — 40% to 50% over the past year — thanks to warranty software from TMW Systems.
“By setting up templates in our system of what warranties exist on certain vehicles, the system will come back and tell us when a repair should be covered under warranty,” England said. “There is a lot of upfront work, but if you’re willing to do that with the appropriate software, it helps with flagging repairs that should be covered under warranty.”
England said the true value of the system lies in getting the warranty information into technicians’ hands. “If you leave it to the warranty guy to get it after the fact, you’re going to be missing things,” England said.
Warranty management software houses data which fleets either enter manually for each asset or download from the manufacturer. The systems rely on VMRS codes, the nine-digit, vendor-neutral numbers that allow fleets and software providers to identify parts and repairs across manufacturers. When mechanics enter a VRMS code that is associated with a part under warranty, the software alerts technicians that it is a covered item, typically with a pop-up window.
“The system is going to remind you every single time. It is software. It doesn’t take coffee breaks, and it isn’t indifferent to the job. It does what it’s supposed to do,” said Jack Boetefuer, chief executive officer of transportation software maker Arsenault Associates. “As long as they don’t ignore the pop-up, they’re going to get a significant savings from the warranty.”
1 2 3 4 Next >>
© 2013, Transport Topics Publishing Group. All rights reserved.