This explains how to view and manage your renewals schedule in ScaleXP.
Renewals in ScaleXP are always based on ScaleXP Contracts. Contracts reflect the entire invoice schedule for a contract with your customer. If you are using ScaleXP Invoicing, these contracts will be set up automatically for you.
Once a contract is created in ScaleXP, ScaleXP automatically generates a renewals schedule for those contracts.
Before moving on to managing your Renewals, be sure you are happy with your setup in Contracts - see View your Contracts.
How to find and Configure the Renewals Schedule
By default, the renewal will be a mirror of the contract in terms of contract length and amount, starting at the end of the contract.
To view your renewals schedule, go to Customers (Top Navigation Menu) > Renewals (Left Sidebar).
You will open on the “Config” section to configure your renewals.
There is lots of data on this page, so you can collapse the left sidebar to view more data on the screen using the arrow button.
.png)
First, configure your default settings for renewal dates and values
Use the configuration options in the Settings menu at the top right to set your reports to include only the relevant accounts and set default values and start dates relative to the original contracts.
.png)
.png)
Filter by accounts:
By filtering to specific accounts here, you select the relevant accounts to include in your renewal calculations. For example, if the original contract included a one-time setup fee or hardware that you do not include in your renewals, you can filter to only the recurring or renewable accounts. This ensures the renewal forecast includes only relevant nominal codes (GL accounts).
Default renewal %:
If you forecast renewals at a fixed percentage, use this setting to adjust your renewal forecast. For example, if your Net Revenue Retention (Net Dollar Retention) is 110%, set this to 110% so every renewal is forecast at 110% of the original contract value.
Set default date:
While renewals commonly begin immediately at the end of the original contract (0 months), there may be a lag time between contract end and renewal start. You can delay the pending renewal start date by specifying the number of months here.
You can also use the filters at the top to show only the relevant renewals at one time.
With filters applied and configuration complete, you're now ready to view your renewals.
Next, review and manage your renewal status
You will see a list of contracts with end dates in the select time frame (Existing Contract, left side) and associated renewal contracts (New Contract, right side).
Use the Renewals Config tab to:
- match to deals in your CRM renewals pipeline;
- update deal details;
- update deal status (where not automated through a match).
Current contracts
View these on the “Config” tab of the Renewals report. The current contract summary includes:
- Contract Name (accounting customer name)
- Start Date - from contract - this is from the current contract
- End Date - this is from the current contract
- Value - “Current Contract Value” from contract - this is the sum of all issued and pending invoices in the contract.
See details about this date and how to change it in View your Contracts.
Expected renewals
The expected renewal can exist in ScaleXP only or be mapped to a CRM deal in your renewals pipeline.
Best practice is to map each ScaleXP renewal to a CRM deal. This will result in best automated tracking.
Expected renewal information displayed includes the following:
- CRM Deal Name - use this to match ScaleXP renewals to deals in your CRM Renewals pipeline.
- Status - this is populated automatically for matched deals. See below for more details.
- Stage - this applies only to matched deals and is populated automatically from your CRM.
- Contract Value - The default value is populated automatically based on your settings (see above) but can be edited.
- Contract Start Date - The default start date is populated automatically based on your settings (see above) but can be edited.
- Contract End Date - The default end date is populated automatically based on your settings (see above) but can be edited.
Deal Status
There are five possible settings for Renewal Deal Status.
Note that Customer tab reports include all renewals from the Renewals Config report except those marked as Complete, Lost or No Renewal/One-Off.
Status fields update automatically for matched deals or can be adjusted manually in ScaleXP on the Renewals Config page. The deal status options are:
- Not Started - this is the default status for deals not matched or edited. It remains until manually changed or matched with a deal with a probability in the CRM of anything greater than 0%. Included in Renewals reporting on the Customers tab.
- In Progress - if matched, this is automatic for deals with probability field set to greater than 0% but less than 100%. Included in Renewals reporting on the Customers tab.
- Complete - if matched, this status is automatic when the deal is closed won. (identified as when deal probablity is set to 100%) This status removes the renewal from Renewals on the customer tab in order to avoid double counting with the new deal.
- No Renewal / One-Off - this can be manually selected. If selected, the deal is excluded from the Renewals on the Customers tab reports.
- Lost - if matched, this status is automatic when the deal is closed won. This status removes the renewal from Renewals on the customer tab in order to avoid double counting with the new deal.
How to manage your renewals schedule as deals are lost, closed
Map renewals to your CRM renewals pipeline
- When you create a new contract, a new renewal will be created automatically
- Map these deals to your renewals pipeline in your CRM
- Once mapped, the renewals deal status and stage will automatically be updated when the status of renewal deal changes in your CRM
- When you Close Win a renewal in ScaleXP, you are prompted to create the new contract associated with the renewal and the prior contract is set to Closed Renewed.
Edit renewals in ScaleXP as required
- You can also mark deal status directly in ScaleXP, without matching to a CRM deal, such as when there is no renewal or renewal deal expected
- You can edit status directly in ScaleXP as appropriate
- Whenever a renewal is marked Complete, you will be prompted to create another renewal for the period following that contract
- Where appropriate, these can be matched to new CRM deals as above
Renewals reporting
The “Output” tab shows revenue expected from all Renewals deals marked with status of Not Started or In Progress.
Once your renewals are set up on the Renewals Config and Output pages, you can create sales forecasts by including these renewals in reports on the Customer page.
Create a new report.
In Configure Report, select Renewals in the “Included Data.”
This will include the information from the Renewals Output report, as filtered on the Customers tab.
le.