Consumers spend billions of dollars each year on extended service agreements (ESAs) to protect their product investments for years beyond the manufacturer’s warranty. Whether it’s a big screen TV or a heating and cooling unit, these ESAs represent a significant revenue stream and a long-term connection to the customer.

“However, most manufacturers do not have the systems or resources in place to service ESAs and, therefore, outsource this function to third-parties. In doing so, manufacturers sacrifice significant revenues, give up the relationship with their customers, and lose visibility into the long-term performance of their products,” according to ServiceBench, a provider of Web-based service management solutions.

On July 23, ServiceBench introduces its Extended Warranty Solution, which, the company said, is the “first ESA solution designed to empower manufacturers with the necessary systems and processes required to control the marketing, sales, and management of extended service agreements, in-house.”

This new solution is designed to add an incremental revenue stream and provide manufacturers with customer and product data that can be used for new product design and marketing.

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Publication date:07/23/2007