Stay on top of contract renewals and expirations and never miss any important deadlines or milestones with an automated contract management workflow.
Make sure all your organization’s contracts, including warranty, support, maintenance, licensing, lease, employment, and any other, are kept safe and sound and can be quickly found when needed. Integrate your contract management workflow into your existing processes to deliver better business outcomes.
Keep all contracts across your organization at your fingertips in a centralized repository. Quickly find any contract-related information with comprehensive search capabilities, smart filters, and full-text search. Organize contracts for fast access using our out-of-the-box types and categories, or create your custom classification schemes grounded in your business practices. Be always audit-ready with instant reporting and the ability to quickly provide softcopies of final, signed contract versions with all their amendments, schedules, and agreements.
Why choose Wiztech for Contract Renewal Services?
Identifying upsell and renewal opportunities
Create renewals using detailed account information, including multiple bill-to addresses and company hierarchy. Automatically incorporate changes to the invoice into all appropriate general ledger accounts. Automated upgrade suggestions to service contract line items/bill of materials, to get your sales team thinking about pursuing and closing an upsell/cross-sell opportunity.
Streamline contract renewals for customers
Easily send proforma invoices — early negotiations mean effective upselling. Renewals always include current contract terms, including pre-negotiated changes in pricing and discounting. Consolidate multiple renewal notices and simplify renewals with automated co-termination. Maintain global maintenance contracts for multinational companies with international business units.
Integrating contract data with your accounting processes
Simplify administration and accounting for multi-element contracts. Facilitate complex billing and support compliance. Quickly get data needed for timely renewals and maximize your uptick potential. Instantly access detailed historical and future views of deferred and recognized revenue streams.
Optimize Contract Renewals
Easily customize renewal rules using a broad range of criteria by contract dates, serial numbers, product, location, customer, and more and automate pricing based on contract terms and coverage dates. Capture all maintenance information at order entry — no downstream reentry needed.
Speed up and streamline contract review and approval
Automate contract approval and review processes to get contract amendments, extensions, and renewals moving faster. Streamline your contract review and approval processes by auto-routing approval requests to the right persons at the right time. Reduce approval delays and bottlenecks with automatic reminders and one-click email approvals. Leverage our approval workflows out of the box or easily customize them as your contract management policy requires.
