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Let’s face it: Managing software renewals is complex and time consuming. According to our 2024 SaaS Management Index report, organizations renew 200 apps a year—or nearly two-thirds of their stack! Missed renewals can lead to unexpected costs and disruptions, while poorly negotiated renewals can result in overspending. That’s where Zylo comes in to help.
Zylo empowers you to operationalize your SaaS renewals, providing a structured, systematic approach to managing the entire renewal process. This ensures you never miss another renewal again (while also securing the best deal).
Follow this tried-and-true timeline to transform your SaaS renewals from reactive to proactive, maximizing your savings and efficiency:
120 Days Before Renewal: Proactively Review Terms
Set alerts to key stakeholders, including procurement and business / application / IT owners about the upcoming renewal. This early warning begins the collaboration process with app owners and ensures everyone is prepared to take action.
Take advantage of this notification to review the contract’s auto-renewal terms and notification periods inside Zylo. This will help you understand your options and deadlines.
90 Days Before Renewal: Optimize and Review Data
The next alert should come at 90 days to keep the renewal top of mind. Now is a good time to review your utilization data and run a workflow to identify and reclaim any underutilized licenses. By optimizing your software usage, you can prevent buying shelfware and potentially reduce costs.
60 Days Before Renewal: Negotiate with Confidence
Armed with Zylo’s pricing benchmarks and usage data, you can confidently enter negotiations with your vendor. Your insights will enable you to secure the best possible deal, ensuring your agreement is fairly priced and rightsized to your organization’s needs.
Renewal Finalized
Send your finalized agreement to Zylo’s Contract Concierge. We’ll handle the rest, extracting the essential details and updating your account to reflect the new terms, so your records are always up to date.
How Do You Get Started?
By taking a proactive approach to SaaS renewals, you can avoid costly surprises and disruptions. To get started operationalizing your renewal process, you’ll want to use powerful Zylo features like Alerts, Renewal Calendar, and Workflows.
Check out the knowledge base for best practices and reach out to your CSM to get started. Want to take a deeper dive into what happens at the 120-day milestone? Head over to the next blog in this series, Engaging App Owners 120 Days Before Your Renewal.
