eWarranty Solutions : Digitizing Warranty Process
In 2014, Sachin Chaugule, a passionate tech enthusiast, encountered a tough situation while in Malaysia. He had a warranty dispute with a company that required him to present the physical warranty document, even though he possessed a digital copy on his phone.
To address this problem, he had no choice but to travel back to India. This experience highlighted the shortcomings of traditional warranty systems and inspired him to develop a digital solution.
Know more about eWarranty Solutions : https://www.linkedin.com/company/ewarranty-solutions-pvt-ltd1/
Joining forces with his colleague Vaikunth Raul, Sachin came up with the idea for eWarranty Solutions. Company was officially launched in 2016, on a very smaller scale and went public in 2022 with a mission to replace outdated paper-based warranty methods with a complete digital alternative.
eWarranty enables manufacturers to upload product information, such as images, specifications, and warranty terms to a dedicated portal. Each item receives a unique QR code, which customers can scan to activate their warranty, register their details, and upload invoices through an app or website. eWarranty provides numerous advantages like:
- Customer Insights: Helps manufacturers better understand their customers.
- Cost Savings: Lowers costs related to printing and distributing documents, like user manuals.
- Real-Time Information: Delivers live sales data and trends through dashboards.
- Recall Management: Simplifies the handling of recalls and extended warranties.
- Tracking Replacements: Ensures that replacements reflect the original purchase date to avoid misuse.
- Packaging QR Code Monitoring: Tracks products from production to retailers, aiding in theft prevention.
- Incentive Programs: Encourages intermediaries, like electricians, to sell products.
- Maintenance Alerts: Alerts customers about necessary upkeep for items such as air conditioners or water filters.
eWarranty caters to manufacturers, service providers, pharmaceutical companies, and the packaged food sector. The startup doesn’t charge consumers directly; instead, it utilizes a SaaS-based pricing model for manufacturers and service providers. Setup fees range from ₹5,000 to ₹25,000, while transaction costs vary from ₹0.60 to ₹10 each. Customers can obtain bulk QR codes starting at ₹0.55 each.
The founders assert that their solution can enable manufacturers to save up to 70% on warranty expenses while also being eco-friendly by diminishing paper usage. Since its launch, eWarranty has continuously enhanced its platform based on feedback from over 100 manufacturers, with official introduction in 2022, the company is now aiming to onboard 1,000 clients shortly, with plans to grow that number to 5,000 in the next three years. Their long-term goal is to achieve ₹1,000 crore in revenue over the next five years and become a unicorn startup very soon.
Sachin’s journey is kind of an inspiration from leaving a high-paying job to focus on eWarranty, without any much support. His story is truly an living example of determination and creativity, with only dream to transform the warranty process on a global level.
