Vendor contract renewal planner
Determining how and when to renew support contracts can be tedious and time-consuming. Our vendor contract renewal planner will help you schedule support renewals and budget the related costs.
From the planner:
Some companies schedule their support contract renewals to take effect all at once, such as on January 1. This provides a convenient renewal time frame, since everything gets paid for at the same time and there is no question about when support for a product will expire. On the flip side, company staff may spend November and December assessing contracts, obtaining quotes and completing purchase orders along with handling all the other year-end duties necessary to support the business.
Furthermore, while paying for everything at once is convenient, it also entails a huge bill when all contracts are due for refresh. It may be better for smaller companies or organizations with fluctuating cash flow to spread out their contract payments over the course of the calendar year.
In either case, it’s not enough to just buy support and wait for the vendors to contact you when you need to renew. It’s important to plan out your expenditures, so you’ll know what is due and when.