‘Tis the Season….For Renewals
Authored by: Yezi Peng
As much as we love the holidays, we know that Q4 is often crunch time for IT. In fact, our customers often see upwards of 40% of their renewals in Q4.
As such, being as prepared as you’d like for upcoming renewals is hard. There’s never as much time or data as you need. Extra measures like asking a customer success manager to help you fill gaps in data sometimes work, but often don’t.
Here are common themes we hear from IT and Finance leaders:
- “My team often has to pick 1 renewal we really care about for the quarter because there just isn’t enough time to do justice on all the renewals”
- “There’s often a negotiation before the negotiation: begging the AE or CSM to provide the information I REALLY need to negotiate intelligently.”
- “Renewal negotiations are an art and a science – my experience enables the ‘art’, but I don’t have all the data I need for the ‘science’”
We took a moment to pull together a full list of items to help you prepare for this renewal season. We call this the Ultimate SaaS Renewal Checklist. In addition to giving you a list of information you should have on-hand ahead of your renewal discussion, we’ve provided guidance on how to think about application use and business value. We also included some questions to ask about the surrounding app ecosystem and how to answer the question “what should I renew?” Key focus areas for checklist items include:
- What’s coming up for renewal?
- Have people been using the application?
- Did we get the business value that we were sold on 12/24/36 months ago?
- How does the app fit within my ecosystem?
We’ll take you step-by-step through what you should be able to answer within each of these categories. Be more prepared than ever for all your upcoming renewals with the Ultimate SaaS Renewal Checklist!