Wednesday, April 20, 2011
An Electronic WRNTY Insures Your Watch
It’s so much fun being in the thrill of the hunt, when you have decided to buy yourself a luxury watch and are prowling around. You go to stores to visit the lucky contenders in person so you can touch and feel them in the metal and experience how they fit on the wrist. You also poke around on the Internet, soliciting various opinions about your favorite darlings to ensure you aren’t about to take home a looker that’s lacking in substance. You ponder and wait until finally you pull the trigger.
All’s good until you need a fix or some other service provided with the warranty. But did you remember to fill it out mail it off? If you did, we know how much of a hassle it can be following the requirements despite authorized dealers best of intentions. And why? Because getting anything done is literally a three-ring circus of the customer, authorized dealer and distributor trying to communicate through the antiquated, lugubrious and just plain aggravating paper system. Hello, folks! We live in the techno age, why not take advantage of the tools at our disposal?
Well, someone did. The tech company WRNTY, founded by company founder Kfir Bar-Levav in 2006 and live last year, came up with a system to manage the horology (and jewelry) distribution and supply chain. Their software is so effective that the distributors of companies such as Montblanc, Rolex and Tag Heuer have already jumped aboard.
Here’s how it Works: Once customers purchases a watch, it electronically enters into a cloud securely accessible to them on a computer. But it doesn’t stop with availability there. The system also sends a text message to the customer’s phone. You can also track the progress of your repair or request. No more endless phone calls with less than knowledgeable people fumbling around and still not able to give you an answer.
If a problem arises or service is needed, the customer can go into any authorized repair center or store and voila! all the info about the watch is conveniently there. You will have a record of the watch from birth to, well—we won’t think about the worst alternative because you’re going to take good care of your watch, right? Another cool leveraging of technology is that you can send a link of your new watch to Facebook with a photo reference on the manufacturer's site. Smart marketing there.
More than just servicing the customers –but hey, let’s admit it, that’s who we care most about because we are the customer—WRNTY also helps out sellers, distributors and manufacturers by putting information to work. While distributors can keep a good handle on what was sold to stores, there’s really not a timely way for them to know what went out the door. WRNTY solves the problem by allowing a virtually instantaneous transmittal of essential data that also gives insight to trends and customer needs in all parts of the supply chain.
WRNTY advertises that all this information can benefit the AD, who can start customer clubs to record their customers’ tastes. Great news if you’re tight with your AD and trust him/her. However, there’s a bit of a downside to giving up so much information, particularly if you’re a very private person. I suppose you can opt out of this element.
Overall, WRNTY sounds like a very clever way to streamline the after sales service for customers as well as protect the integrity watch. By having its “fingerprint” from inception, you can make sure the watch you purchase isn’t a counterfeit too.