Creating renewals
As the contract progresses closer to the end date, you may need to renew it. We can extend subscriptions or make changes for up-selling or down-selling. The rep needs to talk to the customer and make sure that the renewals are successful and whether the customer is interested in up-selling the deal. This is again similar to negotiations that take place in the initial sales process, offering discounts for renewals, and up-selling is also common for a few businesses.
Contract-based renewal process
Let's learn how Salesforce CPQ creates renewals using the contract-based renewal model. We have a contracted opportunity and the contract has subscription lines with start dates and end dates. Renewals will be created for subscription products and percent of total products.
Important Note
If Preserve Bundle Structure is on, then CPQ will try to recreate the assets, which is a hassle.
The following are the steps to create a renewal:
- First, there...
