Accounts up for renewal
What are accounts up for renewal?
The accounts up for renewal metric represents the amount of customer accounts whose current contracts are approaching their expiration date. This includes accounts that will require contract renegotiation or extension to continue using the company's products or services.
Why are accounts up for renewal important to measure?
Monitoring accounts up for renewal is vital for maintaining healthy customer relationships and evaidng churned accounts. It allows businesses to engage with customers well in advance of contract expiration, providing enough time for negotiation towards renewal.
How are accounts up for renewal calculated?
Accounts up for renewal are identified by tracking the end dates of existing contracts or subscription agreements. Accounts up for renewal can be measured according to the number of accounts (count) or the amount of Annual Recurring Revenue (ARR) of these accounts.