RenewalTrack - A Solution for IT Resellers
Track & manage the software maintenance, product support and managed services renewals business
Reselling software maintenance, warranty and support renewals can be a strong and profitable revenue stream for information technology resellers, distributors and manufacturers.
Allowing renewals to lapse leads to unsupported customers and leaves accounts open to competitors. Engaging early in renewals discussions provide an important opportunity to explore broader solutions and find additional ways to add value. All too often, IT providers are too limited in their ability to track renewal data to be truly effective in this area. Learn how RenewalTrack can help.
Higher renewal revenue – provide tools to ensure sales teams never miss renewals; plan, design and execute renewal sales campaigns.
Client retention – close renewal business proactively and keep other providers from targeting key accounts; help clients avoid maintenance lapses and unnecessary support costs.
Customer acquisition – gain footholds in competitive accounts by targeting and closing other resellers’ renewal opportunities.
Vendor satisfaction – develop closer working relationships with product manufacturers by demonstrating a superior ability to manage and service their renewal customers.
Lower operational costs – reduce the time and expense of manually recording renewals and searching through emails and spreadsheets.
The RenewalTrack Solution
The RenewalTrackTM system is a hosted software application used by resellers, distributors and manufacturers to better track and manage their software maintenance, product support and managed services renewals business.
Aggregation. The RenewalTrack system brings together renewal data from many different sources (i.e. reseller and distributor sales out data, vendor registrations, purchase orders, spreadsheets etc.) to build a single repository of all vendor, product and service renewals.
Independent and Accurate Data. Renewal data is captured at time of original sale, creating a renewal repository that tracks all key renewal data points and is independent of vendor renewal reminders. In this way, reseller management teams can track and actively manage their “book of business” for recurring renewals revenue.
Searchable Repository. Users can access and search their renewal contracts by sales rep, sales manager, sales team, customer, manufacturer, product, serial number, purchase order, client PO, date range, etc. Details of individual maintenance and services agreements can be viewed, along with links back to original source documents.
Auto Data Matching. Automatically match end-user names as listed in manufacturer data with internal reseller customer numbers, assigned account managers, inside sales, managers and teams.
Auto Part Substitution. Automatically identify and track the right part number to sell for each renewal. No more time wasted by your valuable resources manually looking up part numbers for each renewal. Automatically identify and update end-of-life SKUs.
Pricing & Cost Calculations. Automatically match part numbers to manufacturer price lists to generate cost for all line items on renewals. Automatically apply margin to calculate sell price for notifications, quotes and internal communications & reports.
Auto Cross-Selling & Up-Selling. Automatically identify additional options and complementary part numbers to include on renewal notifications, quotes and internal communications. Free your valuable resources from manual work on individual renewals and allow them to add value by quickly and easily applying their knowledge across your entire portfolio of renewals.
Reporting and Sales Lead Lists. Authorized users can generate exportable lists of upcoming renewals by sales rep, team, customer, product, contract type, etc. Sales lead reports and selling instructions can be generated and emailed automatically to users on defined intervals. Include all details required for sales reps to quickly and efficiently close open renewals.
Win/Loss Tracking. Measure and track renewal and attach performance by sales rep, manager, team, manufacturer, product etc. Track key performance indicators including the percentage of quotes and renewal closings that are performed on-time.
Intelligent Notifications. Send notifications to authorized users and customer contacts alerting them to upcoming renewals. Automatically identify and escalate notifications that have not been opened or acted upon within defined intervals.
Budgeting & Forecasting. Measure and track your full recurring revenue book-of-business by client, sales rep, manager, product, vendor etc. Project and budget renewals revenue on a go-forward basis.
Multiple Renewal Contract Types. Support for all support and service renewal types managed by resellers, including software maintenance & support renewals, managed service contracts and product warranties.
Track Contract Dependencies. Identify and link support, maintenance and warranty renewals that are associated with overall managed service contracts; ensure that underlying manufacturer renewals are identified and kept up-to-date.
Track Renewal Histories. Link current renewal opportunities to those from previous years that have already been sold and delivered. Track original sale date, products, pricing, client contact details etc. Automatically create new renewal opportunities as existing renewals are closed.
Client Welcome Kits. Generate service summary documents to email to clients at the time of purchase and/or renewal. Welcome kits summarize key contract terms and programs instructions in a standardized format across all vendors and products. Include attach offers when clients have not purchased extended support.
Product End-of-Life management. Search renewals by part numbers and original sale date to identify renewals affected by impending product retirements or due for refresh campaigns.
Loading Internal Systems. The RenewalTrack system can provide standard output files suitable for importing into reseller CRM systems and quoting tools.
Fast Easy Implementation. RenewalTrack is a hosted software-as-a-service solution that can be implemented quickly and without changes to internal IT systems.