Understanding Contract Renewal

Contract Renewal is a pain area of most of the industries which deals with contractual services. This feature in AntMyERP tells you automatically when the warranty/ contract is going to end. Hence, considerable action can be taken before the business opportunity is lost.

Settings

Navigate to Settings > Sales.

Check the Auto Contract Renewal box under the Sales Preferences tab.

Enter the desired options under Notice Period and Notify Employee.

Click on Update.

Permissions

Navigate to Settings > User Roles.

Select the employee you want to give Contract Renewal Permissions to and scroll to the right.

Select Edit option from the Action dropdown menu.

Go to the Permissions tab.

Enable all the Manage Contract Renew Register permission.

Click on Save.

Renewing a Contract

Navigate to Left Menu > CRM Sales > Reports.

Select the Renew Contract report.

The contract which is getting terminated will start appearing 60 days in advance. Hence, you can take action well in advance.

Select the desired contract and scroll to the right. Click on Action > Renew. 

Enter the required details.

Click on Save.

Note: The contract will show under the Renew Expired if it is not renewed. In that case, no services can be provided.

However, if the customer contract is expired, we can follow up and renew the contract on customer’s confirmation.

TO RENEW : The contracts that are about to expire within the next 60 days are displayed under this tab.

RENEW EXPIRED : The contracts that are expired after 60 days of notice and not renewed are listed under this tab

Terminating a Contract

Navigate to Left Menu > CRM Sales > Reports.

Select the Renew Contract report.

The contract which is getting terminated will start appearing 60 days in advance. Hence, you can take action well in advance.

Select the desired contract and scroll to the right. Click on Action > Terminate. 

Enter the required details.

Click on Save.

Note: After this, the contract goes to management for approval. The Management tries to convince the customer for contract renewal. Further action is taken after the rejection or approval of the same. 

In case any equipment is given on loan or standby to the customer whose contract is terminated, it will be listed under the Pick up list. 

The contract can be seen device wise and serial number wise. 

TERMINATION APPROVAL : After a contract has been terminated, it goes under this tab for management’s approval. The management follows up with the client in case they want to renew it. If the client wants to renew it, it goes for renewal.

TERMINATED : If the client, after the follow up from the management, disapproves for the renewal, the contract gets terminated. The terminated contracts are shown under this tab. The materials required to pick up from the client are shown under Operations> Inward Challan> Pickup Management.