Automate the renewal process to boost your revenue and on-time renewal rates
Annuity revenue streams such as maintenance renewals on hardware and software contracts provide a desirable source of income for any company. They generally have higher profitability margins and their consistent and recurring nature makes them attractive for planning and forecasting future company growth and opportunity.
Yet, processing renewals is not as easy as net new sales. For example, they typically require extensive data collection, consolidation and manipulation from multiple systems, causing lengthy delays in quoting, ultimately slowing down quote to cash periods.
How iasset.com solves the renewal management problem
iasset.com takes the hard work out of managing and processing renewals by consolidating data from typical business process systems such as ERPs, CRMs and any other source such as entitlement, POS or even a spreadsheet.
Based on this consolidation, an entire list of renewable items is created from which quotes are automatically generated at a specified interval prior to expiry date (usually 120 or 90 days before).
Depending on the business rules and requirements, quotes can then be automatically distributed without any intervention on the part of a renewal specialist, eliminating the administrative and data management work normally associated with processing renewals. For higher value renewals or key accounts, quotes can be presented to the renewal specialist for validation before publication.
Backed by iasset.com’s unique Renewal Growth Programs, companies not only access the technology to manage their renewals programs but also our expertise on how to expand and increase revenue from your renewals pipeline. Visit this page.