Enhance your Business Productivity
It’s time to gain control over your Renewal Transaction Processing and focus on enlarging your revenue.
It’s a known fact that: Carrying the load of the past will slow the business engine Carrying the benefits of the past will however grow the business
Recurring revenue from renewal of ongoing licences/services forms a sizable percentage of the overall revenue. Efficient management of renewal business drives revenues by retaining and nurturing existing customers.
The key challenges for any business with renewal component are:
- Cost efficient renewal management operations.
- Availability of qualified and trained resources.
- Revenue recognition from complex licensing methods with varied regulatory practices in different countries.
KPK is managing renewals across several countries along with consolidating AP and AR in a few countries across APAC and EMEA for a product software company.
KPK’s solution streamlines license renewals across partner channels operating in different countries, with diverse regulatory practices.
The key functions of the solution includes the following:
- Maintain complete data base of customers with pending renewals, across geographies and business types.
- Send alerts in advance to customers on pending renewals.
- Follow up with the customers to confirm renewal acceptance.
- Verify licensing terms and other contractual adherence.
- Harmonise renewal dates for licenses procured over various dates by a single customer.
- Issue invoices.
- Resolve customer queries.
- Follow up for collection.
- Verify for credit notes and reversals
- Identify and communicate up-sale and cross-sell opportunities.
- Support and provide input on compliance needs.
KPK’s solution has streamlined renewals management and operational productivity backed by trained and academically qualified graduates in finance and regulatory practices.
The following value adds are assured vide our implementation:
- Increase in productivity by engaging customer organization staff on nurturing existing customers and bringing in new customers to enhance revenue.
- Gain visibility and consolidate financial data from both new sales and renewals.
- Gain real-time visibility – Monitoring mechanism for strategic decision making.
With the successful and encouraging results seen by the implementation for a few countries, existing customer is implementing the solution for the remaining countries.
On the solution value enhancing front, KPK is providing Apps for real-time visibility of various metrics to monitor and take decisions. Also, the Apps will empower the management, financial and operational staff to build a more robust business.