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Renewals Overview

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Before you begin

In order to generate renewable Subscriptions and Subscription Items:

 

ZAB Renewal Template

Settings on the Renewal Template determine how the whole contract (Subscription and Subscription Items) will be handled upon renewal. This record helps drive and define the Renewal Policy for the contract(s). Additional records and settings managed through the Renewal Template include:

  • Renewal Field Value Transformation
  • Renewal Transaction Profile
  • Renewal Template subtab: Renewal Combination Options
  • Renewed Template subtab: Renewal Subscription Group

ZAB Renewal & Renewal Items

The ZAB Renewal record is a live forecast of your expected renewal. This dynamic snapshot of future renewals allows users to stage what the future renewal will look like before generating a Renewal Estimate.

  • This projection is automatically updated to reflect any changes to the current Subscription and Subscription Item records, and can also be manually resynced as needed.
  • Renewal Items represent the Items expected to renew. Upon renewal, Renewal Items will either convert to a new Subscription Item or update the existing Subscription Item.
    • This record will contain details about the Item’s new parameters- projected Start/End Date, Quantity, and Rate while also evaluating original source data.

ZAB Rate Policy

Both ZAB Renewals and ZAB Adjustments reference Rate Policy and Rate Policy Rule records, which determine the behavior of applicable Charges over time. Rate Policies may be shared between Renewals and Adjustments. They may also be (and generally are) shared across Subscription Items, Subscriptions, and Customers. 

 

ZAB Renewal Estimate & Renewal Estimate Items

The Renewal Estimate and Renewal Estimate Items are generated through the ZAB Renewal Record when the Create Estimate button is clicked. Estimates offer a freeze frame of the current state of the Renewal and captures the final information intended for renewal.

  • Renewal Estimates may be shared with Customers to provide a preview of the renewed Contract.
  • Each Renewal Estimate is static, representing only what was on the ZAB Renewal when it was created.
    • If the ZAB Renewal is updated, you can create a new Renewal Estimate to reflect the updated information. All previous and most recent Estimates are stored under the ZAB Renewal.
  • Renewal Estimate Items represent the Items that will renew under the Renewal Estimate.
    • Values can be overridden directly on the Renewal Estimate Item if needed. For example, if the Customer negotiates a change in the price/quantity to be renewed.
  • Renewal Estimates and Renewal Estimate Items convert into new Subscriptions and Subscription Items or update existing ones depending on the Renewal Template settings.

 

Keep in mind

  • A Renewal Item Start Date comes after the End Date of the original Subscription Item.
    • For example, if the original Subscription Item’s End Date is 12/31/2020, the Renewal Item’s Start Date is 01/01/2021. This is important to keep in mind to avoid confusion and unwanted Renewal outcomes (especially ones that pertain to Renewal Template Combination Options)
  • One or more Subscriptions may flow into a single Renewal
    • Depending on a number of factors, including but not limited to: the Renewal Template selected on the Subscription and the Template’s Renewal Combination Options. Renewal Item Start Dates.
  • One or more Estimates may be (and often are) created from a single Renewal
    • Depending on a number of factors, including but not limited to: The desire to generate another Renewal Estimate when new information is captured on the Renewal record, the Renewal Template’s Renewal Combination Options, and Renewal Transaction Profile settings
  • One or more Subscriptions may be created / updated by a single Renewal Estimate
    • Depending on a number of factors, including but not limited to: Renewal Subscription Group used on the Renewal Template

 

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