Loading...
Answers
MenuHow to better track managed service contract renewals?
Answers
Hey there,
I trust that your CRM is robust enough to trigger some workflows and automated steps.
I would recommend you have an automated series of reminders to both your customer AND their respective relationship manager that fire as the client approaches their end of contract. To your internal staff, getting notified that a customer is opening/clicking on resources included in their reminder emails would be recommended, or if a client has NOT taken any action, to notify more than one member of your staff to ensure that these folks are not falling between the cracks. Additionally, monitoring and being notified of actions of the client, such as visiting your FAQ page or pricing page on your website provides helpful context for your sales team when reaching out.
Again, I think it is just as important to nurture the client as they approach this date, they should really be able to see the value of working with you and make the decision to continue their partnership with you regardless of the contract.
I'd love to help you more with this, let's set up a call if you have specific questions.
All the best,
-Shaun
Good Morning.
Your question is one that many companies offering any kind of a software or service contract may face. That means there are at least several market ready solutions for you. I've had about 25 years of experience in selling, implementing and profitably tuning the business systems and software systems like this one, and for several years of that time, was an employee for Cognos and Oracle, as well as holding certifications as a CPA and CGMA. From this experience, I've placed (and been certified) for many of these kinds of software systems for companies serving their clients under a contract-for-service arrangement and renewals are only one important aspect of making them work well for you.
If you are a growing company, and have many clients holding these contracts, your best bet is to automate your business process as much as possible. To do this, you may want to consider the less expensive solution of extending your CRM System into a kind of contract management/field service software system. This extended system is designed to provide functionality that manages and tracks the services you may give to a client, but also tracks the contracts the clients pay for that same service. Features can be very rich, and may extend beyond what you need for simple contract management, however, seeing the services side of the contracts will allow you to view your costs of servicing your customers under these contracts whether by phone or by service technicians that travel. If you have SalesForce CRM (the gorilla of CRM's) you may want to inquire into ServiceMax as they have a system that may fit your need that matches the architecture and integrates with the Force.com platform and SalesForce's system.
Salesforce not your game? Then one source for finding lists of other different systems is www.capterra.com . Another source would be to inquire into your CRM provider and ask them if they have created any contract management/field service management software modules that integrate with their system. A third place to look is to google the Gartner Magic Quadrant for Field Service Management systems. This report, while there is a fee, will list many of the players in this software space and their strengths/weaknesses.
Good Luck!
Related Questions
-
How do you build a structured sales process for a digital agency that works with Enterprise Ecommerce Clients?
Yes, a consistent sales process is vital so that you know where you are. You also want to know why you lost some orders and won others--I was over a decade into my career before I realized I had no idea why. And that's what lead to the change. You need to understand your numbers. You need to know what the process steps are, and how to proceed to the next one--or let the opportunity die if it should (hint: if you're trying to turn every prospect into a client, you're doing it wrong.) And you must have your fulfillment process dialed in, which at present with the description of murky data-gathering and pricing it sounds like you do not. Loads of info my my blog at http://www.salestactics.org Let's discuss specifics on a call.Jason KaniganJK
-
How you deal with unpaid invoices for your marking agency?
Require payment up front, either in full or as a deposit. During your onboarding process, make it clear that your policy is to pause future work if the client becomes past-due. And then follow that policy if it becomes a problem—be polite but firm. Concerned you don't have the reputation or track record to require payment up front? Look at the social proof you're using in your marketing. Mention U.S. brands you've worked with (if you have permission to do so). Share testimonials and case studies. The goal is to reduce risk to your prospective clients, so they're less likely to push back on pre-payment. In the U.S., I see independent agencies doing primarily Net 30 as their payment terms. If you're doing that now, shorten terms for new clients to Net 15. (Don't do "Due on Receipt" since no one pays on receipt; you should have a real due that that's some point in the future.) Here's more on preventing this long-term: http://sakasandcompany.com/clients-who-keep-paying-late/ Onshore agencies struggle with this, too, so you're not along in facing this problem. Good luck! Background: I led business operations at 2 digital agencies, have worked in digital marketing since 1997, and advise agencies about operations, strategy, and leadership in (so far) 15 countries. If you have followup questions, request a call here on Clarity; I'm glad to help!Karl SakasKS
-
What's a good source for lawyers that specialize in contract law?
Hey! If you are US-based the cheaper and faster option is to use a service like clerky.com, they provide little to none customization but it's good enough for anything before a series A. After that I strongly suggest to use an international law firm, I've had good experiences with Bird&Bird and OrrickSimone MarzolaSM
-
What is the best social media app for a social media agency to manage client accounts?
Hey! So if you just need it for purely scheduling, Buffer is no-fuss and I would 100% recommend them. BUT if you want to manage comments/engagements, have in-depth reporting and analytics, I would recommend Sprout Social. I haven't tried Hubspot before, but I've used Sendible and Planable. If you need clients or a "higher up" to approve posts, Planable can do it, but they can't auto post to IG (you have to schedule it, then the phone app notifies you) which is one of the main blockers. If Sprout Social is out of your budget, I recommend checking out Social Report! It's what I use when I need complete management but I use Buffer for when I need just scheduling. Hope this helps, LMK if you have questions.Beverley TheresaBT
-
What precautions should a software development agency take to avoid this business loss?
Hello, Congrats on creating your own agency. Software developers and clients often speak 2 different languages and your job is to communicate between then effectively. For your questions 1. This can happen, the agency is the project manager. Manages requirements, user needs, spec document, milestones, payments and everything outside coding. On the next project, they will see your value. 2. I would not mention it, it gives you less flexibility, if you have to change teams or something happens. I don’t see a reason for mentioning it 3. Everything outside the coding - getting clients, creating the spec document, customer care, making sure project on schedule and budget, launching the product, working with design teams 4. The most value a agency can provide is what I call a brain. When things go wrong (and they will) who can solve that problem. The programmer will hit some tough spots in a project and come to you to solve it. You need to know how to handle it and keep the project going. Now if the client worked directly with the agency, this is where your value came in. Last, I would suggest to get into each conversion and understand how everything works, it will help you build a better business, good luck. Cheers, Mukul If you need help, call meMukul Verma - 7 Fig Online Earned | AI Affiliate Marketing & Online Business Expert | Love Helping People Succeed Online | Sold Web, Mobile & Shopify Apps Businesses | InvestorMV
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.
