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🕧 Finance, CSM, and Sales all play a key role in customer renewals. While the customer renewal is a single event, our teams are constantly assessing the health of our customers and taking corrective action as necessary.
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Process Overview
Our renewal process is a 5 step process that begins 120 days prior to the renewal date. The process lifecycle is as follows:
. The Renewal Playbook Vitally playbook triggers the renewal process.
Renewal Process Phases
| Phase |
Event |
Steps |
Output |
| Health Assessment |
Vitally triggers Health Assessment doc 120 days before renewal |
1) CSM completes Health Assessment doc template in Vitally with AE |
|
- review with CSM and AE Mgr; align on Renewal Health Assessment rating (green or yellow or red) | If red or yellow, schedule a deal review - a 45 min meeting with the account team + revenue leadership and any necessary xfn partners to discuss needs.
If green, monitor. |
| Renewal Plan | AE leadership: weekly forecast
Leadership: weekly inspection to monitor the progress | Yellow / Red:
- CSM: Check-in on plan progress, additional corrective action weekly
Green:
- Continue monitoring | AE: Project initial renewal outcome: Full churn, partial churn, flat renewal |
| Renewal Forecast | AE & CSM leadership: weekly forecast | Yellow / Red:
- AE: Renewal outcome negative (Full or partial churn)
Green:
- AE: Renewal outcome neutral or positive (Flat or incremental) | Quarterly forecast |
| Process Renewal | AE & CSM leadership: weekly forecast | AE: Renewal opportunity processed accordingly | Renewal event complete |