Asset Renewal
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 Not 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>."
Email notifications on renewal quotes
On creation of a Renewal quote, the parent quote owner receives an email notification when the Renewal Execution mode is set to Auto. When the Renewal Execution mode is set to OnDemand, then the Account owner is sent a notification.
Similarly, when the Renewal quote is updated, irrespective of the execution mode, the notifications are sent to the renewal quote owner. The contents of the email notification are based on the template owned by the Administrator. This can be modified as per the requirement.
Error email notifications on renewal quotes
| Error type | Email Subject | References |
|---|---|---|
| An error preventing the successful creation of a renewal quote | Error: Failed to Create Renewal Quote for Renewal Group ID | Renewal Job ID and Renewal Group ID |
| An error preventing the renewal quote from being updated correctly | Failed to Update Renewal Quote for Renewal Quote Name | Renewal Quote ID and Renewal Quote name |
| An error in processing or accepting a touchless renewal quote | Error: Failed to Process Touchless Renewal Quote Acceptance for Renewal Quote Name | Renewal Quote ID and Renewal Quote Name |
| An error occurs while generating or creating an Asset Renewal Group record | Error: Failed to Create Asset Renewal Group for Order Id/Account Id " | Order Id/Account Id |
| A general error occurs anywhere during the renewal process, outside of specific quote creation, update, or acceptance stages | Critical Error: General Failure in Asset Renewal Process for Renewal Job ID | Renewal Job ID |
