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Warrantech Introduces new WCPSOnline Functions

Jan. 07, 2010

Service Enhancements Track Dealer Loss Experience, Streamline Reporting and Automate Repair Orders
BEDFORD, Texas – (Jan. 7, 2010) - Warrantech Consumer Product Services, Inc. (WCPS), a leading independent provider of service contracts and after-market warranties on consumer electronic products and home appliances, announces a number of dealer centric service enhancements for the company’s cutting edge internet reporting and processing system – WCPSOnline. Known as a leader in the development of proprietary technology for the service contract industry, Warrantech’s new automated features make Web site navigation fast and easy, while empowering dealers with information that impacts the profitability of their business.
The latest generation of WCPSOnline is packed with innovative enhancements giving dealers instant access to loss experience analysis, streamlined sales and claims reports, plus automated repair orders – all in real time.  By accessing the “What’s New in WCPSOnline” Web page, dealers get information on the latest enhancements including:
  1. Sales Reports – Allows dealers to easily track all submitted sales for the current month as well as track historical trends.    
  2. Automated Claims Submission – With automated claims submission enhancement feature, busy dealers have the flexibility to receive payments quicker and easier with minimal turn-time – without waiting on the postal service.  The new fast-pay option means payments can be received within two business days, for dealers that use a credit card.  While the traditional net 30 day via paper check type of payment is still available, dealers that want faster service are switching to online payments. 
  3. Dealer Loss Experience – A high-tech solution that analyzes specific dealer portfolio loss history.  This report provides valuable information to dealers enabling them to understand the key drivers of their programs profitability.  Working in conjunction with their Warrantech account manager, dealers can take actions needed to minimize problem areas and maximize long-term profitability.   This new feature is currently being tested, and is targeted for release at the end of January.
“The new and advanced features of WCPSOnline offers dealers the latest advances in service contract administration tools,” said Joel San Antonio, CEO and president of Warrantech Corporation.  “Having access to up-to-the minute information gives dealers a strategic advantage over their competition.  With a few simple key strokes the WCPSOnline system can generate valuable management reports, place service orders, and manage the repair process seamlessly online.”
“Warrantech makes service contract administration quick and easy for dealers and customer alike.  Dealers benefit from the speed of automated online access, and the customer receives fast, courteous service.  Clearly, with WCPSOnline, information is at your fingertips making the administration and repair process a win-win for all parties,” he added. 
“WCPSOnline enables me to track my warranty business much more quickly,” said Lary Sinewitz, executive vice president, BrandsMart USA.  “With a few keystrokes, I get reports that spot penetration and profitability trends enabling me to take proactive actions as necessary.  A valuable high-tech tool, WCPSOnline provides data that helps us make more informed business decisions that ultimately enhance our long-term profits.”
In addition to data tracking, report generation and claims submission features, WCPSOnline offers additional resources and tools for dealers.  The system is designed to be responsive and assist with the use of various applications. Comprehensive, step-by-step directions are given for each application. User friendly PDF information guides can be opened with Acrobat Reader™, then downloaded or printed, as needed.    
For dealers that want in-depth training, a wide variety of online classes are offered quarterly.  To access training dates go to the WCPSOnline Web site, and click on the session title, select an upcoming date, and automatically register for the event.  Instructions are e-mailed detailing the steps necessary for attending the online class.
To learn more about WCPSOnline, go to www.wcpsonline.com, and look under “What’s New in WCPSOnline” in dealer’s training.  You can also contact Laura Tomlin, director of account management, in WCPS Dealer Services at laura_tomlin@warrantech.com for more information.  
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About WCPSOnline:
Unparalleled in the service contract industry, WCPSOnline is Warrantech’s proprietary Internet reporting and processing system. Developed exclusively for Warrantech dealers and service providers, WCPSOnline significantly reduces administration costs, minimizes administration errors and improves processing speed for online applications.
About Warrantech Consumer Product Services, Inc.:
Based in Bedford, Texas, Warrantech Consumer Product Services, Inc. (WCPS) administers service contracts and after-market warranties on consumer electronics, computer and computer peripherals, jewelry, furniture, and appliances. WCPS is a division of Warrantech Corporation, a recognized leader in the service contracts industry. In addition to consumer products, Warrantech administers and markets service contracts on homes, automobiles, automotive components, and recreational vehicles, for retailers, distributors, internet providers and manufacturers. Acquired by H.I.G. Capital in 2007, the company continues to expand its domestic and global penetration, and now provides its services in the United States and Canada. For more information, visit www.warrantech.com.
Rick Gavino                                                   
Chief Financial Officer
Warrantech Corporation
Virginia Stuart
Michael A. Burns & Associates