Resubscriptions tasks
Update Resub Line Item Pricing
Details: 90 days before the resubscription date, Finance will get a TASK notification to update the resubscription line-item pricing; this is to give the account manager, the correct value to discuss with the client for next year's resubscription.
Assigned to: Finance
Actions Required:
- Update the line items and pricing for re-subscription
- Once you have market the task as COMPLETE, this will automatically update the “Resub Fee Value Checked & Updated by Finance” property to “YES”
Next Steps:
Once you have completed the requirements above and COMPLETED this TASK, it will then trigger the next task within the Resubscription workflow, which is ”CONTACT CLIENT TO CONFIRM RENEWAL” & “RESUB CONFIRMED YES/NO?“.
Details: 65 Days Prior to the subscription date, and once the “Update Resub Line Item Pricing“ TASK is complete, the Account Manager will receive the TASK "Contact client to Confirm renewal” and “Resub Confirmed” Follow the instructions within.
Assigned to: Account Manager
Actions Required:
Please contact the client to confirm the resubscription and update the “Resub confirmed” property.
Account Managers must contact the client and obtain the below:
1. Ask if the billing address is the same as last year?
2. And which country and currency account the funds will be coming from.
3. Account Managers to update this in the pinned note – and if different then notify the Finance Team asap (as she will have to amend INV before it gets sent).
4. Imperative this is within the 60-30 days prior to resub date.
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Assess: Are you happy for Voly accounts to invoice 30 days before the subscription end? YES or NO.
If YES, what was the confirmation method? If NO, you must Call - Loom - Whatsapp/video - email to receive the confirmation.
Next Steps:
Once the above actions in the TASK are confirmed, Mark the TASK as COMPLETE.
Resub Confirmed Yes/No
Details: When you update the property “Resub confirmed”, this will fire the next stage of the workflow, which is covered in the Next Steps section below
Assigned to: Account Manager
Actions Required:
- Has the client reconfirmed the subscription
- Ensure the property 'Resub Confirmed?' is updated with Yes/No.
- If Yes make any changes to line items for finance to update invoice.
Next Steps:
Once you have updated the property ”Resub Confirmed” with YES, this will automate the next stage of the workflow. The ”NO” option will be covered later on within the SOP.
Once you have completed the TASK mark as COMPLETE.
If the deal is not confirmed 40 days prior to the resub date, it will automatically be moved to the next stage. You will be informed via email about this.
Double Check resub deal info
Details: The task “Double Check Resub Deal Info” will be created to allow the Account Manager an opportunity to update any of the line items before the invoice is sent to the client.
Assigned to: Deal Owner
Actions:
“Since resubscription has been confirmed, ensure line are correct for finance. If any changes to line items please create a TASK for Sarah in Finance. When task marked as complete, Finance will be notified to start the invoicing process".
Next Steps:
Marking this TASK as complete will create a ticket for finance to check/update Xero which will then send the invoice to the client 30 days prior to resubscription.
Finalize recurring invoice for re-subscription
Details: If the Ticket name contains any of Resubscription or Resubscription Invoice, a task will be created “Finalize recurring invoice for resubscription” for the Finance Team.
Assigned to: Finance - PW | Accounts
Actions:
Please start the recurring invoicing process for "TICKET NAME”:
2. Create any necessary billing contacts in Xero
3. Update recurring invoice if necessary.
Next steps:
Once the TASK has been completed this will move through the resubscription workflow. If this TASK is not updated, it will prompt a delay message however it will automatically move through the process if the TASK is not completed.
The next steps for this will be to auto-move the invoice to the next stage, CHECK INVOICE, where a task will be sent to PW | Accounts to check that the invoice is correct.
Invoice Paid?
Details: This TASK is created to indicate if the invoice has been paid by the client. If yes, mark the task as COMPLETE to allow the workflow to continue
Assigned to: PW | Accounts
Actions:
Check to see if the invoice has been PAID, if so, mark the TASK as complete
Next Steps:
Once the invoice has been paid and the “Invoice Paid?” task has been completed, the Deal will have the “Resub confirmed” and “Resub Value Checked & Updated by Finance” values cleared, the Closed date will be saved and the Stage will be updated to closed won.
This will trigger a clone of the deal to be created and associated with the Product subscription.
There will also be a Task for the Account Manager to “Final resubscription renewal tasks”
Final resubscription renewal tasks
Details: There are tasks to be completed where the Account Manager will be required to update:
1. Product Subscription:
- Update the Subscription End Date
- Update Renewal year
- 6 weeks no activity (if applicable)
- No activity Risk (if applicable)
- Churn Risk (if applicable)
2. New Resub Deal:
- Deal Name - MMYY
- Resubscription Start and End Dates in the Resub Deal
The final step is to double-check that the "billing contact" and "billing company" labels are associated on the new deal correctly.
Once these association labels have been added, the resubscription workflow is complete, until next time!