Renewals hold quick, easy money
Contract and product renewals are the perfect time to look holistically at the economics of your commercial relationship in order to apply pricing increases and negotiate more favorable relationship terms. However, executing contract and subscription renewals usually means a lot of data hunting, back-and-forth emails, unwieldy spreadsheets, and generally bad CRM data. Even companies with dedicated renewal teams struggle to understand what’s been sold, the current pricing, which contracts have fixed terms, where can you uplift prices and existing entitlements.
With Pramata’s commercial relationship system of record, sales execs and renewal teams eliminate the year-end scramble, gaining visibility into the most current information that automatically refreshes when contracts are signed, renewed or terminated.
With the right information in hand prior to renewal negotiations, you can:
Synthesize calculation of renewal dates, products and pricing based on contract documentation, amendments and order management data.
Know with certainty where you can increase recurring revenue based on defined contract terms.
Easily access customer renewal data and documentation at the account level from within your CRM and take immediate action.