4 Secrets to SaaS Subscription Renewals

About this Video

• Video Title: 4 Secrets to SaaS Subscription Renewals
• Channel: Zylo | The Leader in Enterprise SaaS Management
• Speakers: Tori Kagan Kikendall
• Duration: 00:45:03

Introduction

This webinar by Zylo's senior SaaS services manager, Tori Kagan Kikendall, reveals four key strategies for achieving successful SaaS renewals. The video aims to equip viewers with actionable tips and tricks to navigate the renewal process efficiently, reduce costs, and minimize stress, particularly during the busy end-of-year period.

Key Takeaways

• Proactive Renewal Management: Start the renewal process at least 120 days in advance to allow for thorough evaluation of applications, identification of potential replacements, and strategic negotiation. Zylo's platform offers tools like the Koopa contract center and contracts concierge to centralize contract data. Regularly review the "renewals on the horizon" filter in Zylo.
• Avoid Auto-Renewals: Actively remove auto-renewal clauses from agreements before signing. If this isn't possible, utilize Zylo's alert system to receive timely notifications about renewals with auto-renewal clauses.
• Leverage Data for Informed Decisions: Use Zylo's application usage data and workflows to understand license utilization and send user sentiment surveys to assess employee satisfaction. Engage with suppliers before receiving renewal quotes to discuss usage and explore potential optimization strategies. Utilize Zylo's pricing data to benchmark and ensure you are receiving competitive pricing.
• Powerful Negotiation Strategies: Research market trends, develop a clear action plan outlining desired and least desirable outcomes, and employ negotiation levers such as multi-year agreements, early signing, decreased usage, case studies, and involving leadership in negotiations. Zylo's new savings center helps track negotiation wins.