Newly Released Cisco 700-805 Exam PDF

An action that a Renewals Manager can take to drive value in the account is to manage and mitigate renewal risk. Renewal risk is the possibility that a customer will not renew their contract with Cisco at the end of their term, resulting in revenue loss and customer churn. Renewal risk can be caused by various factors, such as low adoption, poor satisfaction, lack of value realization, competitive pressure, budget constraints, or organizational changes. A Renewals Manager can manage and mitigate renewal risk by:

• Identifying and prioritizing the accounts that have the highest risk of non-renewal, using data and tools such as ATR (Annualized Total Revenue), ARR (Annual Recurring Revenue), iARR (Incremental Annual Recurring Revenue), TPV (Total Partner Value), icebreaker (a tool that provides insights into new and unique business prospects), and Adopt on Scores (a tool that provides insight into how well customers are utilizing service and software they purchase from Cisco).
• Developing and executing a risk mitigation plan for each high-risk account, involving actions such as engaging with the customer, understanding their needs and challenges, demonstrating value and ROI, addressing any issues or concerns, proposing improvements or enhancements, offering incentives or discounts, or leveraging partners or references.
• Monitoring and tracking the progress and results of the risk mitigation plan, using data and tools such as CCW-R (Cisco Commerce Software Subscriptions and Services), which is a tool that allows customers and partners to quote, order, and manage their service contracts and software subscriptions from one place; and Customer Success Plan, which is a document that captures the account team’s strategy and actions to achieve customer success.
• Collaborating with other account team members, such as Customer Success Managers, Account Executives, or Sales Engineers, to align on the renewal strategy, share information and insights, coordinate activities and touchpoints, and deliver a consistent and positive customer experience.

By managing and mitigating renewal risk, a Renewals Manager can drive value in the account by increasing the chances of a successful renewal, retaining customers and revenue, enhancing customer satisfaction and loyalty, and creating opportunities for upsell or cross-sell.

Two factors that drive subscription value for customers are up to date security protection and continuous access to innovation. These factors reflect the benefits that customers can gain from subscribing to Cisco products and services, such as:

• Up to date security protection: Customers can enjoy the peace of mind that their networks, devices, and data are always protected from the latest threats and vulnerabilities. Cisco provides regular security updates, patches, and enhancements to its products and services, as well as proactive threat intelligence and prevention. Customers can also leverage Cisco’s security portfolio, which covers the entire network from edge to cloud, and provides integrated solutions for identity, endpoint, cloud, email, web, and network security.
• Continuous access to innovation: Customers can access the latest features and functionalities that Cisco delivers through its products and services, without having to purchase new hardware or software licenses. Cisco provides frequent software updates, upgrades, and releases that introduce new capabilities, improve performance, and optimize user experience. Customers can also take advantage of Cisco’s innovation ecosystem, which includes partners, developers, researchers, and customers who collaborate to create cutting-edge solutions for various industries and use cases.