Renewals are the most common and effective ways to retain existing customers and drive growth and sales for your business. Asset renewals eliminate the scope of pricing errors by extending the agreement. Therefore when you renew an asset, you basically regenerate the asset life-cycle for a new duration. CPQ supports the following types of renewals:
- Manual renewal of assets
- Auto renewal of assets
You can choose from the following renewal types for a product:
- None
- Fixed
- Evergreen
- Do Not Renew
When a primary cart line item has Renewal Type= “Evergreen” or “Do Not Renew” then that line item is not eligible for Renewals. Such line items are not added to the Renewal Quote. This is valid for product standalone, Bundle-option, sub-bundle, ramp, and usage.
Consider the following example:
- Four different products are in the cart. Renewal type is Fixed for P1 and P2, Evergreen for P3, and Do Not Renew for P4. Result: One renewal quote is generated for P1 and P2.
The Renew button on the Installed Products page is not disabled for 'Evergreen” or “Do Not Renew' line items. Instead when you click an error message is displayed.
For example, five assets are selected for renewal of which one is of type ‘Evergreen’ and one of type ‘Do No Renew’, and the rest are eligible. On clicking of the Renew button, an error message for two assets that do not qualify is displayed in the following format:
“Renew is not allowed for < Evergreen/ Do No Renew> asset <asset name>.”