Customer Renewals: Increased
DrivenBI delivers real-time collaborative data analytics
Companies interested in maintaining profitable long-term relationships with their customers, focus on improving their customer service and satisfaction. As a direct product vendor or a channel partner, a significant tie to your customers is renewals.
The standard approach to renewals is to use spreadsheets to manually aggregate renewal data across multiple product lines, territories, channels, and contract terms. Time-consuming and costly, it lacks the real time analysis that is needed to proactively preserve and grow renewal revenue.
Delayed or unpaid renewals invite risk exposure as you balance terms and conditions compliance and your ability to serve your customers while keeping competitors at bay. And gaps in support, maintenance or upgrades have the potential to create havoc for a company’s reputation at the speed of social media tweeting and blogging.
SRK with Customer Renewal Analytics (CRA) drives a better process by automating the tracking and analysis of customer service data using dynamic user views, report snapshots for collaboration and real-time trending and threshold dashboards.
Instead of importing and analyzing data in massive decentralized spreadsheets, CRA centrally manages and visualizes renewal analytics logic around customer’s purchase history, contract terms and renewal data so you can increase renewal revenue faster.
This is a win-win-win relationship for companies, customers, and partners
- Sales teams contact and close customers just in time
- Customers experience uninterrupted service
- Strategic deals are justified by consolidating or repackaging renewals
- Customer loyalty is locked in
- Competitors are locked out
all in real time and without the hassle of spreadsheets.
- Automate alerts when renewals are due.
- Track partner and direct sales close rates.
- Set thresholds to escalate unpaid renewals.
- Customize analytics for management and partners.
- Use dynamic user views, shareable report snapshots and real-time trending dashboards.
- Encourage actionable collaboration with task management.
- Realize full revenue potential.
- Increase customer satisfaction.
- Incentivize the right partner behavior.
- Keep customers in compliance with company’s terms and conditions.
- Drive better renewal policies.