A successful warranty claim is one of the easiest ways to contribute hard dollar savings directly to your company’s bottom line and to ensure budget targets are achieved. Even better, companies can increase production uptime, improve equipment design, and strengthen their supplier relationships. WorkAlign Warranty Tracker, a purpose-built solution for Maintenance, flags work orders that are under warranty and presents claims for your review and submission. Fully integrated with all the major maintenance systems, Warranty Tracker tracks and identifies resources by item or asset level, then monitors activity through the warranty expiration date. This allows users to manage warranties for assets which have sub-assemblies covered under different warranty terms. Warranty claims represent between 3 and 5 percent of a typical company’s capital spending, on average. Improving warranty visibility and tracking can help you to achieve maintenance budget targets because the savings go right to your bottom line.

Warranty Tracker Benefits:

• Improve asset performance since warranty claims often lead to re-designs or may prevent future warranty claims.
• Recover or avoid maintenance costs by ensuring that in-warranty repairs are filed with the vendor for reimbursement. Record the financial transaction in your system to reflect actual spend and cost incurred as accurately as possible.
• Best Practice Consultants estimated potential savings:
  • 3% of annual spend on New Equipment
  • 1% of annual spend on New Parts
  • 5% of annual spend on Rebuilt Parts
  • 5% of annual spend on Contract Labor
• Lower maintenance spending 2% to 3% due to better equipment reliability.
• Reduce procurement costs 3% to 5% due to improved Strategic Sourcing. Use historical claims records for future vendor negotiations and selections.
• Reduce transportation with supply consolidation of up to 10%.
• Lower inventory levels 5% to 7%.
• Production gains of 1% to 3% due to improved equipment reliability.
• Achieve budget targets for maintenance with improved visibility and tracking.