Solutions

Renewals Management

You’ve invested in your marketing team to generate leads, you’ve trained an A+ sales force to get that big win, contracts are executed and installations complete. Now what? Many times renewal management is the proverbial hot-potato; does sales or operations own it? It is easy to see why – data is abundant but not uniform, non-dedicated resources own the renewal process, and inadequate processes lead to oversight.

TSP’s Renewals Management Program delivers fully customized solutions per individual client processes. A dedicated renewal and audit team follows detailed and thorough processes specifically built around each client’s terms. Specialists learn, adapt and integrate into each client’s business resulting in a comprehensive renewal solution.

You worked hard to obtain those customers

Now make sure you retain them and amplify your recurring revenue efficiently and wisely.

  • It’s 68% more expensive to acquire $1 from a new customer than it is to upsell current customers
  • 70 – 95% of revenue comes from upsells and renewals – only 5-30% come from the initial sales
  • It’s 140% more expensive to acquire new customers than to renew current ones’ purchases

Service Highlights

We strive to understand a client’s solutions and IT environment to assist both the customer and service teams.

  • MaRTTy, a custom and cloud-based CRM tool
  • Decreased quote development time
  • Improve forecasting accuracy
  • Improve data integrity
  • Higher on-time renewal and resolution rate
  • Dedicated renewal and audit team
  • Fully customized processes

Fully Customized Solutions

Renewals Management Program

Effectively manage your recurring revenue utilizing TSP’s robust, custom and cloud-based CRM tool, MaRTTy, and achieve a reduction in quote development and delivery time, streamlined cycles around forecasting accuracy, improved data integrity, and increased renewal rate and resolution.

Revenue

Generating positive cash flow for clients through maintenance contract renewal.

Efficiency

Achieving a higher on-time renewal rate to ensure quotes are delivered 90 days in advance.

Customization

Utilizing MaRTTy to capture key performance indicators according to a client’s needs.

Proficiency

The ability to streamline and reduce cycles around forecasting accuracy.

Understanding

We learn, adapt and integrate into your business resulting in a comprehensive renewal solution.

Dedication

A dedicated renewal and audit team with detailed and thorough processes built around a client’s terms.

Why TSP

TSP acts on your behalf to manage the whole process, including scrubbing, quoting, auditing, custom relations, and process management and reporting.

Scrubbing

Identifies what accounts are coming up for renewal and generates the backup documents used to prepare the quote.

Quoting

Prepares the initial quote as well as any requested revisions received.

Audit

Reviews all materials and performs a quality audit to determine if there are corrections that need to be made before the quote is passed on to the client.

Customer Relations

Makes initial contact with the client sales representative and collects necessary information about the client.

Process Management and Reporting

Fields any major issues throughout the process that might require escalation including, but not limited to pulling, analyzing and reporting metrics about the process.

Recurring Revenue

Renewals are often one of the most overlooked sources of recurring revenue for B2B companies.