TRUSTED BY LEADING BRANDS
Identify and prevent revenue leakage.
- Quickly understand which renewals are non-events vs. those that need attention
- Accurately forecast your renewals book of business using machine learning
- Keep tabs on champions to stay ahead of the renewal
Drive a high performing renewals process.
- Reduce cost-to-renew by automating the renewals process for low-risk customers
- Standardize your team’s actions with situation-specific renewals playbooks
- Ensure on-time renewals with pre-configured alerts and notifications
Track in-quarter progress and root causes of churn.
- View the most up-to-date in-quarter forecast metrics, including renewal dollars outstanding as well as actual churn, upsell, downsell, and closed revenue
- Understand the composition of lost/gained revenue with interactive charts
- Access customer insights such as health, engagement, sentiment, and more to provide valuable context on each renewal
“Using Gainsight for revenue optimization has allowed us to both specialize and scale our team. We have built an automated renewal system that can and has frequently facilitated a zero touch renewal plus growth process.”
Revenue leaders who own both renewals as well as new business recognize that managing renewals is a completely different beast. From forecasting to managing KPIs, the renewals motion requires a fundamentally different approach. But what exactly makes managing a renewals business unique? We outline five key differences:
Revenue. It’s the bottom line for any business. But in the new economy, it’s not enough to build a company on one-time transactions. Today’s customers demand successful outcomes and great experiences, and if you don’t provide them, the market is fluid enough to meet their needs when you can’t. But if the economy is operating under new rules, how are you supposed to grow your revenue through renewal, expansion, and beyond?
Signing new customers costs five times as much as retaining old ones. So why are businesses failing at renewals? One of the most common problems I see in forecasting renewals is that businesses simply don’t know how to leverage their data in the right ways. They treat it the same as they treat sales and are stumped when their forecasts show up as less than accurate.