When it comes to warranty filing requirements, there is an ever-changing environment that makes it difficult to keep up with complex specifications. Navigating these changes is not only difficult but also time-consuming due to the need for more resources and expertise in most dealerships.
In the past few years, few opportunities have presented themselves to US dealers where they can increase revenue without significant investments in marketing, people, inventory, or facilities. However, due to recent laws in almost all 50 states, dealers now have a new avenue to recover lost revenue when dealing with warranty labor and parts reimbursement. A typical warranty part reimbursement markup through an OEM is around 40% – actual markup can be up to double that. But how does a dealership go about capturing that? Dynatron knows, here’s how!
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Warranty Filing Alone Leaves Money on the Table
Costs are increasing faster than ever. Labor, parts, utilities; everything is more expensive. This is no time to leave money on the table. Your service department deserves to be reimbursed at full market rates for the warranty work you are performing. But the path to receiving your warranty labor rate and parts markup increase is full of obstacles. From OEM guidelines to state laws and statutes and thousands of repair order labor lines to review. All to find qualified, warranty-like repair work that demonstrates your actual retail market rates.
With the tools and time to overcome these obstacles, the dealer is in a position where accepting the OEM-suggested increase may seem like a reasonable choice. But surrendering to that option leaves so much money on the table.
The Necessity for More than Just a Warranty Filing Company
Dynatron Software is the leading expert in Warranty Labor and Parts Filings. Most dealers are not compliance experts and with ever changing filing requirements, keeping up to date with the most recent rules and regulations is time-consuming. In addition, the filings themselves are complex endeavors that take massive amounts of time; therefore dealers often lack the internal resources (time and people) to take full advantage of the opportunity. Many dealers have underlying Effective Labor Rate inefficiencies that create little or no initial filling opportunities.
That is why Dynatron works with each dealer to fix any underlying issues prior to filling – to unlock and maximize your revenue potential. Our simple-to-follow process and unique technology make filing quick and easy.
FileSmart: Increase Your Warranty Rate with Optimized Submissions
Dynatron’s FileSmart warranty rate solution leverages our decades of industry expertise with our intelligent ROI Suite technology to identify the best RO sample data to increase your approval rate and maximize your labor and parts increase. That is why our customers see an average increase of $17.84 per hour on labor and an increase of over 25% in parts markups after their approvals. Learn more.
Get In The Know with Dynatron Software
With over 24 years of experience, thousands of dealer partners, and tens of thousands of successful submissions – Dynatron is the leading provider of Warranty Labor and Parts increase submissions. We are the experts, so you don’t have to be! With proprietary machine learning technology, we help dealers select the optimal RO data set to maximize their potential revenue with each filing. Schedule your 30 minute meeting today.