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New to NetSuite | Contract Renewals Overview

in Advanced Accounting & OneWorld

The Software Vertical Contract Renewals SuiteApp helps software companies manage contract renewals for their install base. It is designed for companies that offer perpetual and term licenses and need to manage recurring billing for on-premise or on-demand software licenses, entitlements, maintenance, and support.

With this SuiteApp, users can track renewable assets, manage upsells and returns, view the install base, and support multi-tier channel sales management. It can also help distinguish between renewable items, such as software licenses, user seats, and support entitlements, and non-renewable items, such as training and consulting services.

The renewal process is automated and flexible. At the end of a contract term, NetSuite can create a renewal transaction that generates a new contract containing the items marked as renewable.

Clarisa De Torres | Ask a Guru

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