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Zylo Tips: How to Operationalize Your SaaS Renewals

How to operationalize your SaaS renewals

07/10/2024

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. 

Aha Contract Page in Zylo

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. 

zoom usage insights

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. They’re here to help!

ABOUT THE AUTHOR

Author

Thom McCorkle

As Zylo's Director of Product Marketing, Thom is responsible for leading Zylo's product marketing strategy and execution with a passion for aligning customer needs and Zylo's value into everything we build and launch. He brings 7+ years of experience working with Zylo's customers and prospects with various roles from leading Customer Success to enablement and sales/solution strategy.