Renewals is a subset of your Contracts that looks at your Agreements in the context of their Renewal Date & Renewal Status.
The primary job of Renewals is to help you better track the full lifecycle of the renewal, and focus on renewal management holistically, while treating Agreements more as a data repository.
Where do I find Renewals?
You can find the Renewals in the Commitments section.
How do Renewals work?
There are 3 default views on the Renewals table:
Upcoming Renewals
In Progress Renewals
Completed Renewals
These views are filtered by Renewal Status.
Each of the views shows you a number of high-level details about the Renewal in question:
Name - contract name
Renewal Deadline - shows either contract notice date (for contracts which auto-renew) or contract end date (for contracts which do not auto-renew)
Vendor - shows the Vendor associated with the Contract
Total Value - total contract value
Auto-Renew - does this contract auto-renew (Yes or No)?
Renewal Status - options are:
None
In Progress
Renewed
Not Renewed
Terminated
Business Owner- shows the business owner of the contract
Actions - immediately action a renewal (start renewal request, will not renew, or renewal completed) without clicking into the detail screen.
Remember, because Renewals is a subset of Contract, these are all Contracts properties.
Renewal Alerting
Renewal Alerting is one of the main feature of Renewals.
Business Owners and Procurement Managers will receive renewal reminders 4 months and 1 month before Renewal Deadline.
Business Owner will be able to launch renewal request directly from their slack/email notification.