What is authorized goodwill in SAP LO-WTY - Warranty Claim Processing?

SAP Term: authorized goodwill

• Component: LO-WTY

• Component Name: Warranty Claim Processing

• Description: An act of grace that arises when a claimant is authorized to make a warranty claim for an object for which, according to the master warranty, there is no longer a warranty. The system can then automatically check this authorization and automatically process the claim further.

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• Key Concepts: 
  Authorized Goodwill is a term used in SAP's LO-WTY Warranty Claim Processing component. It refers to the amount of money that a company is willing to pay out to customers for warranty claims that are not covered by the terms of the warranty. This amount is determined by the company and is usually based on customer satisfaction and loyalty. 
  
  How to use it: 
  In order to use Authorized Goodwill, companies must first set up a budget for it in their SAP system. This budget will be used to determine how much money can be paid out for each claim. Companies can also set up rules and guidelines for when Authorized Goodwill should be used, such as when a customer has been loyal for a long period of time or when a customer has made multiple claims. 
  
  Tips & Tricks: 
  When setting up Authorized Goodwill in SAP, it is important to ensure that the budget is realistic and that the rules and guidelines are clear and easy to understand. Companies should also consider setting up a system for tracking Authorized Goodwill payments so that they can monitor how much money is being paid out and ensure that it is being used appropriately. 
  
  Related Information: 
  Authorized Goodwill is just one of many features available in SAP's LO-WTY Warranty Claim Processing component. Other features include warranty claim processing, warranty claim tracking, and warranty claim analysis. Companies should explore all of these features in order to get the most out of their warranty claim processing system.