Benefits of Warranty Tracking Software for the Automotive Sector

More than 100 million passenger vehicles drove U.S. streets in 2017. Why does warranty tracking software matter for the automotive sector? The automotive industry relies on equipment and tools to function. We’re not just talking about vehicle production, maintenance and repair, although those are certainly important applications. Information technology equipment keeps organizations running smoothly. Administrators need the means to determine the location and condition of vehicles and parts, equipment and tools. Many of these items are attached to warranties. Knowing the extent of coverage and the expiration dates of those warranties can save companies thousands of dollars, which is why warranty tracking software can play a critical role in the automotive industry.

Warranty Tracking is a Big Job

A lot of automotive companies don’t know how many fixed assets they own or where they’re located. Nor are they aware of the warranties attached to each of those items, which can save them astronomical repair costs. You might be storing your warranty information in a paper file somewhere, and while it’s helpful to have those records, they don’t do you much good shoved away in a filing cabinet or desk drawer. When they’re out of sight, they’re probably going to remain out of mind. Combing through your files to locate any given warranty also can be a frustrating exercise if you don’t have an organized system.

Warranty tracking software compiles the information attached to every one of your assets and stores it in a centralized, easy-to-access location. The software enables you to set up customized notifications and alerts to remind you of upcoming warranty expirations so you can renew your policies and remain protected.

Field Service Benefits

Field service providers also benefit from warranty tracking software. Specifically, these providers can look up service records to recall the work they performed for any customer. They can also check on the status of a warranty contract. This is key because, without access to real-time, accurate records, service providers may complete work under the assumption that the client’s warranty contract covers it, when in fact the client’s warranty may have previously expired. Busy service providers may forget to check on the status of a payment or even forget to submit a claim in the first place. However, warranty tracking software helps keep this information top of mind by creating reminders and a means to track the status of each claim through payment. They may also establish their customized alerts to remind themselves to reach out to customers whose warranties are nearing expiration or have already expired.

Maintenance Benefits

The software helps automotive organizations do more than access their warranty information, however. These systems also provide users with the complete maintenance history of each of their fixed assets and allow them to establish alerts and reminders for routine maintenance. Some companies operate under the assumption that service is only required when a machine breaks down. However, regular preventive maintenance is a smart investment that can save them the cost of extensive, rush-ordered parts and repairs. Equipment that is properly maintained runs faster and more optimally, is safer for employees to use, and in the case of IT assets, leaves your organization less vulnerable to a security breach.

Asset Panda: An Easy, Mobile Tool for Anytime Warranty Access

Asset Panda’s cloud-based warranty tracking software helps automotive clients keep track of all of their warranty information and reduce their cost of equipment maintenance. Our free mobile apps include a built-in scanner and enable you to access your real-time data 24 hours a day from the palm of your hand. To learn more, visit assetpanda.com

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