/Automated Contract Renewal Solutions

Tracking Challenges Today – Complex & Fragmented Data

2019-10-16T10:12:59-05:00Automated Contract Renewal Solutions, Big Data, Service Revenue Generation, Service Revenues|

With such huge revenue and customer satisfaction potential on the line, why are the majority of channel partners not tracking warranty and maintenance service contract data and re-engaging existing clients? Some simply do not recognize the opportunity. An individual maintenance renewal worth $3,000 may hardly seem worth pursuing compared to a new-customer hardware sale. If a partner is missing 10 such renewals a month, however, there is now a revenue stream of nearly $400,000 a year being ignored. Moreover, maintenance is not a one-time sale. It is $400,000 in recurring revenue stream that is being neglected. The channel must take a long view of the data to see the real opportunity. Unfortunately, achieving a consolidated view of contract data poses a significant challenge. Most partners recognize the potential in service contracts, but obtaining accurate, streamlined visibility into the maintenance data is simply too difficult. For any channel partner, there are [...]

Top 10 Reasons Your Organization Needs Managed Maintenance, Inc.

2019-10-16T10:09:37-05:00Automated Contract Renewal Solutions, Big Data, Contract Management, Customer Success, SaaS Contract Management Solutions, Service Revenue Generation, Service Revenues|

Why Does Your Organization Need Managed Maintenance, Inc.? Here are the top 10 reasons! 1.Improve Data Quality: With the aggregation of install dates, warranty exits and renewals - the ability to mine data and proactively identify ongoing contract opportunities, technology refreshes, refurbishes or decommission opportunities, instantly becomes easier to track 2.Improved Business Analytics: Ability to establish accurate reporting and analytics of the business performance both in terms of sales and the associated financial performance. 3.Accurate Forecasting & Pipeline Development: Enable enterprises to accurately forecast their annuity business and renewal opportunities up to 36 months in advance. 4.Accurately Budget, Staff Technical, & Support Teams: Identify possible cost reductions through the ability to forecast potential service-contract renewals and the necessary personnel to support those contracts 5.Increased Visibility & Channel Performance: The ability to push down to channel partners and track renewal and sales rates against the opportunity data received by channel partners. [...]

3 Reasons to Automate Your Maintenance Renewals

2019-09-20T10:51:09-05:00Automated Contract Renewal Solutions, Big Data, Contract Management, Customer Success|

In today’s market, businesses are looking to do more with less. And although IT hardware and software maintenance still retains much of its profitability, companies are still looking for better, smarter ways to build this crucial annuity pipeline. So how can you more efficiently tackle your renewals, without compromising customer satisfaction or potential revenue? Below are 3 reasons to automate maintenance renewals: 1) Increase revenue and increase customer satisfaction Because automation allows you to touch more of your customers, it is assumed that you will increase your bottom line. However you may be surprised at where those increases will come from. Not all maintenance renewal notifications lead to increased maintenance revenue. Many resellers see increase in net new hardware and software sales due to the notification of machines coming off warranty. Also, end user customers see increased value from resellers who have invested in automation, which leads to increased customer satisfaction. 2) Connecting [...]

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” – [...]