TAMPA, Fla., Aug. 7, 2017 /PRNewswire/ -- Mize, the leader in Connected Customer Experience software, announced today the planned release of next generation of Service Contracts Management software at the upcoming Extended Warranty and Service Contracts Innovations conference in Nashville, TN on Sept 13th, 2017.
Service Contracts Management solution powered by Mize Connected Customer Experience platform and Smart Blox for Service Plans, Warranty, Support and Service provides a complete and cost-effective solution for companies to manage all aspects of extended warranty, maintenance, subscription, and service programs. Mize Service Contracts software helps companies to extend the customer relationship and increase the value of the products to the customer by enhancing service experience and improving product uptime.
Extended Warranty and Service Contracts are a good source of revenues and profits for OEMs, TPAs, and Retailers. According to a recent Warranty Week Report, the Service Contracts industry generated over $42 Billion revenue in 2016.
"Service Contract can unlock the value of existing product install base by generating higher margin and predictable revenue stream for manufacturers," said Ashok Kartham, CEO of Mize, " With Attach rates and Renewal rates on Service Contracts being well below the desired levels, Mize Service Contracts solution connects OEMs, Channel Partners, and Third Party Administrators (TPAs) with Customers to grow service contract revenues through better customer experience and engagement."
'In order to increase service contract rates, companies need to effectively configure, quote, and price service contacts on a real-time, flexible, and scalable basis," said Michael R Blumberg, President of Blumberg Advisory group, "We recently surveyed 200 professionals involved in extended warranty and service programs and found that the vast majority are still utilizing manual processes or excel spreadsheet to perform this function. We have found that companies that use of state of the art software to configure and price the service contracts achieve significantly higher service contact attachment rates because these applications allow them to be more responsive to customer needs."
"Our focus for the software has been to enable companies to increase key service contracts performance metrics such as Attach Rates and Renewal Rates,"said Eric Marlan, Sr Product Manager at Mize "New release of Service Contracts enables the sales teams and channel partners to sell and renew service contracts, and companies have seen an immediate return through increased sales."
Key Enhancements in the release include the ability configure and quote Service Plans, buying Service Contracts from a Customer Portal with PayPal or Credit Card, Co-branded notifications by the Manufacturers and Channel Partners, and management of Opportunity reports on Service Contracts and Renewals.
Mize is a sponsor of Extended Warranty and Service Contracts innovation conference in Nashville, TN from Sept 13th-15th. Ashok Kartham, CEO of Mize, will be moderating a panel of Industry experts on the topic of "Strategies to Drive Service Contract Sales on Digital and Direct Channels."
Mize will launch and demonstrate the latest version of the Service Contracts Management Solution at the conference. Visit http://m-ize.com/solutions/service-contract-management to learn more about Mize Service Contracts Management solution.
Mize enables companies to optimize key post-sale customer interaction events such as product registration, warranty, service plans, parts, support, service, and maintenance to increase customer satisfaction and retention. Mize connected customer experience platform and Smart Blox elevate customer experience and engagement with the customers, build more knowledge about the customers and products, and increase revenue from the existing customer install base. Mize harnesses the web, mobile, cloud, IoT, and analytics technologies to maximize customer lifetime value. Please visit www.m-ize.com for more information.