To build a profitable warranty and services maintenance practice it is essential that you capture renewals (whether hardware or software) in a timely manner. Proactively notifying your sales team and your customers of upcoming contract, warranty and license expirations is a sure way to increase your renewals rate and your business revenue.
Ensuring that all equipment and software is fully covered all the time requires careful tracking of warranty and licensing expirations. Customers are looking for partners that will help them manage this cumbersome activity and let them know about their upcoming renewals.
To provide an easy solution to track this information, you should make use of today’s technology and find an online portal, or contract software (like MMI’s ONEview portal) that allows having the data readily available. Many of these programs come with automated notifications that are sent to both the end users and sales teams prior to expiration dates.
Before you select a tracking solution, consider:
1. Is the solution easy to manage
2. Is it comprehensive enough to give me all the information needed to provide the customers with accurate data?
3. Can I proactively notify the customers of upcoming renewal events?
4. Can notification be automated so that it takes time off the desks of the administrative staff?
Providing proactive notifications is a definite value-add service to your customers. It will set you apart from your competitors and make you a trusted advisor, not just another Business Partner.
To learn more about the importance of tracking your maintenance renewals, watch our video. For more information on ways you can increase your maintenance annuity revenue streams, visit www.managedmaint.com or call us at 561-869-4399 x1137