700-805 Cisco Renewals Manager (700-805 CRM) Questions and Answers

According to the CCW-R User Guide 5 , some of the actions that a partner or customer can perform within CCW-R are:

Change Customer Address: This allows the user to update the customer address information for a quote or an order.

View and Manage their Contracts: This allows the user to view their contract details, status, expiration date, product coverage, etc., as well as request a quote or renew their contracts.

References:  5 : CCW-R User Guide - Cisco

A success indicator for a Renewals Manager that is valid is on-time renewal. On-time renewal measures the percentage of customers who renew their contracts with Cisco before or on the expiration date. On-time renewal reflects the Renewals Manager’s ability to retain customers and revenue, as well as to increase customer satisfaction and loyalty. On-time renewal also reduces the risk of losing customers to competitors or alternative solutions. On-time renewal is calculated by dividing the number of customers who renew on time by the number of customers who are eligible to renew in a given period.  On-time renewal is different from other metrics such as increased deployment of licenses, stabilized customer satisfaction scores, or new product introductions, which are not directly related to the Renewals Manager’s role or performance.

a solutions-led sales approach is:

A sales methodology that focuses on understanding the customer’s business needs, challenges, and objectives

A consultative process that involves discovering, proposing, validating, and closing solutions that deliver value and outcomes for the customer

A way of differentiating Cisco and partners from competitors by offering integrated solutions that leverage Cisco’s portfolio and expertise

The first step in a solutions-led sales approach is to understand the customer’s objectives, which includes:

Asking open-ended questions to uncover the customer’s pain points, goals, and priorities

Listening actively and empathetically to the customer’s responses

Confirming and summarizing the customer’s objectives and expectations

References:  2 : Solutions-Led Sales Approach - Cisco

one of the tasks that is the responsibility of the Renewals Manager is to manage recurring revenue risk, which includes:

Identifying and prioritizing renewal opportunities and challenges

Developing and executing renewal strategies and plans

Collaborating with other Cisco teams and partners to ensure customer satisfaction and retention

Negotiating and closing renewal deals

References:  2 : Cisco Renewals Manager - Cisco

Cisco offers different types of service offerings to help customers achieve their IT vision and strategy, such as support, optimization, training, and advisory. Among these options, the one that best helps define the customer’s IT vision and strategy is advisory. Advisory services from Cisco provide expert guidance and insights to help customers design and deploy new solutions, streamline existing operations, or optimize their IT.  Advisory services can also help customers align their IT goals with their business priorities, identify opportunities for innovation and growth, and measure and report on key performance indicators. 

According to the Cisco website 1 , one of the critical tasks during the Qualification phase is to validate customer inventory, which includes:

Reviewing the Available to Renew (ATR) report and identifying any discrepancies or missing items

Confirming the accuracy of the contract end dates, product IDs, serial numbers, and quantities

Updating the ATR report with any changes or corrections

A. Contracts/subscriptions that are available to renew.

Comprehensive and Detailed Explanation: According to the Cisco website 1 , ATR stands for Available To Renew, which is defined as:

Contracts/subscriptions that are available to renew within a defined time period (usually 90, 180, or 365 days)

A key metric for measuring the renewal opportunity and performance

A report that shows the contract details, status, expiration date, product coverage, etc.

References:  1 : Cisco Renewals Manager - Cisco

A solutions led approach should be applied when renewing a quote. A solutions led approach focuses on understanding the customer’s pain points, challenges, goals, and desired outcomes, and then proposing a solution that can address them effectively. A solutions led approach is different from a product led approach, which focuses on highlighting the features and benefits of a product or service without considering the customer’s specific needs or situation. A solutions led approach can help create more value for the customer, as well as differentiate your offering from competitors. A solutions led approach can also help build trust and rapport with the customer, as well as increase their satisfaction and loyalty.  By applying a solutions led approach when renewing a quote, you can demonstrate your commitment to helping the customer achieve their objectives, as well as showcase your expertise and credibility in providing the best solution for them

 La Carte licensing model is the most complex for a customer to manage because it requires the customer to purchase and activate individual licenses for each product and feature they want to use. This can result in a large number of licenses to track and renew, as well as compatibility issues between different products and versions.  A La Carte licensing also does not provide the benefits of Cisco’s Software Buying Programs, such as financial predictability, access to incentives, and subscription co-termination 1 .

References:  1 : Cisco Software Licensing Guide - Cisco

Enterprise Agreements (EAs) represent the highest value for customers who want to simplify their software licensing and management across their organization. EAs provide customers with:

Unlimited access to a suite of Cisco software products within a defined technology domain for a fixed term and price

The ability to deploy software anytime, anywhere, without additional costs or approvals

The flexibility to grow and adjust their software usage without overage fees or penalties

The convenience of co-terminating all their subscriptions at the end of the EA term

The option to include Cisco services and support in their EA 2

References:  2 : Cisco Enterprise Agreement - Cisco

ATR stands for Annualized Total Revenue, which is a metric that measures the total revenue generated by a customer contract over a 12-month period. ATR is calculated by multiplying the monthly recurring revenue (MRR) by 12. For example, if a customer pays $100 per month for a service, the ATR is $100 x 12 = $1,200. Therefore, the ATR on a $10,000 one year recurring revenue contract is simply $10,000, since the MRR is already $10,000.  ATR is useful for comparing the revenue potential of different contracts with different billing cycles or durations

Business Critical Services are subscription-based services covering the lifecycle of a technology, which provide customers with:

Expert guidance and best practices to optimize their network performance, security, and availability

Proactive support and automation to prevent issues, reduce risks, and accelerate outcomes

Insights and analytics to measure and improve their operational efficiency, agility, and innovation

References:  4 : Business Critical Services - Cisco