/Automated Contract Renewal Solutions

Why Automated Quoting Solutions Are the Secret to Enviable Service Contract Renewal Rates

2019-09-06T13:26:02-05:00Automated Contract Renewal Solutions, Automated Quoting, Customer Success|

Manually managing the IT contract renewal lifecycle comes with an avalanche of consequences. Beyond wasting valuable time and manpower, outdated contract management processes prevent IT organizations from reaching their full revenue potential. Whether you’re an IT manufacturer, distributor or reseller, getting contract renewal information in front of customers is vital to sustaining a healthy annuity stream. But with limited resources at their disposal, renewal teams are forced to prioritize selling to the top 20 percent of customers (who typically provide 80 percent of a business’s annual revenue), neglecting the majority of clients rounding out the rest. For IT organizations serious about growing their bottom line, automated quoting solutions can help lock in additional service revenues that otherwise slip through the cracks. How Automation Reinvigorates the Contract Renewal Processes Successfully closing maintenance and service contracts hinges on your business’s ability to approach customers at the right time, with the right information. [...]

How Automated Renewal Solutions Can Eliminate Chaos as Sales and Service Teams Merge

2018-09-04T12:27:46-05:00Automated Contract Renewal Solutions, Automated Quoting, Building Annuity Revenues, Customer Success|

Today’s technology companies are caught in a paradigm shift. With businesses competing for the lion’s share of the market, the focus of most IT channel partners is on nurturing high-volume, low-dollar contracts. Relying on a few high-margin deals is no longer enough – renewals are much easier to secure than netting new business and can help businesses grow their bottom line.  Market dynamics and a crowded industry are pushing manufacturers,distributors, and resellers towards an annual recurring revenue (ARR) business model. But adopting an ARR model can be challenging for organizations with internal teams operating in silos. Today, the customer journey is a disjointed process that can leave money on the table. To take advantage of these untapped revenue opportunities, sales and renewals teams need to collaborate with one another to deliver the best customer experience possible.  The need for a unified sales strategy has inspired a movement toward “customer success” – [...]

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