Automating renewals: IT assets,
subscription, and contract management

Another area ripe for automation is the management of customer IT assets, maintenance contracts, and subscription renewals. This can be challenging and time-consuming, especially if you are currently managing them with multiple tools and, even worse, spreadsheets. IT assets are typically spread across multiple sites and networks, and their maintenance varies by location, asset type, etc. In addition, non-aligned contracts expire at different times throughout the year and asset moves may not be recorded.

Automated systems organize the asset management and renewals process so the solution provider can work with their customers proactively to ensure renewals and replacements happen in an optimized and timely manner. The system should provide a unified customer-centric view of assets and contracts, as well as business intelligence on coverage and expiration dates that reflect upsell and cross-sell opportunities. Contract details and move, add, change and disconnect (MAC-D) requests that are made available to end-customer users have an added impact on the customer experience.

The goal would be that with a single tool, solution providers can see everything they have sold to a specific customer without needing to go to multiple vendor portals. Being able to quickly see all the contracts and what is up for renewal will allow them to prioritize actions and ensure renewals are done on time. A bonus would be to use a tool that could also facilitate co-terming of large numbers of products to simplify asset management for the customer and the solution provider.

Ensuring the sales process can focus on the business

By automating the customer acquisition and engagement lifecycle, from pre-sales to renewals, IT solution providers can achieve operational excellence and scalability throughout the sales cycle and maximize margins. They can gain easy access to the data they need to manage their business and be proactive with their customers. And proposals that make business sense can be created rapidly, delighting the customer and bettering the bottom line.