Syncron, a global leader in intelligent aftermarket solutions, today announced the launch of Syncron Service Contract Performance, a new solution designed to help manufacturers grow service contract and extended warranty business while optimizing revenue, cost, and margins over the life of the contract. Service contracts give OEMs a way to secure future aftermarket revenue, strengthen customer relationships, and extend the commercial relationship beyond the warranty period. New solution helps manufacturers predict cost optimize pricing protect profitability across service contracts extended warranties.
But as manufacturers shift toward contracted, recurring, and outcome-based service models, every agreement commits them to service costs and performance obligations that can stretch years into the future.
That makes it increasingly important to understand what those agreements are likely to cost, how they should be priced, and whether they are performing as expected once they are live.
Yet many manufacturers still rely heavily on broad cost estimates, spreadsheets, manual analysis, and static pricing assumptions to manage service contracts. As the number and variety of agreements grow, so does the financial exposure created by those limitations. Syncron Service Contract Performance connects the decisions that drive service contract profitability, helping manufacturers:
Predict expected service costs using historical service and claims data, asset and usage information, planned maintenance requirements, and parts and labor costs
Set and optimize contract prices based on expected cost, margin targets, and market pricing strategy
Monitor and manage revenue, cost, margin, and performance across live contracts
Use performance insights to improve future pricing, renewals, and contract decisions
"Service contracts are becoming an increasingly important part of the aftermarket growth equation, but recurring revenue only creates value when manufacturers understand the risk they are taking on," said Josh Weiss, CEO at Syncron. "Our Service Contract Performance solution gives OEMs a clearer view of the economics behind every agreement, so they can make better decisions about what to sell, what to charge, and how to protect profitability as the business grows."
"The value comes from connecting decisions that have traditionally been made separately," said Daniel Shearly, Chief Product Officer at Syncron. "Historical service and asset data gives manufacturers a stronger basis for predicting future cost and setting prices. Once agreements are live, actual performance shows how those assumptions are holding up and can inform the decisions that follow."
Syncron Service Contract Performance expands Syncron's Service Lifecycle Management offering, supporting manufacturers as they advance their servitization strategies and helping them manage profitability, strengthen customer relationships, and grow aftermarket revenue.
About Syncron
Syncron is the aftermarket growth platform for the world's leading manufacturers and distributors. Trusted by customers across more than 80 countries, Syncron offers connected solutions across parts and service pricing, service supply chain management, warranty management, and service contract performance.
