Renew agreements

Use Deal Manager's agreement renewal capability to identify the agreements that you should renew. Once identified, you can:

• Draft an agreement renewal
• Compare new line values to the original agreement lines
• Edit the agreement renewal
• Approve and publish a new agreement

Create an agreement renewal

1. In the Agreement Dashboard, select the Expiring Agreements action card.
2. In the list of expiring agreements, select the agreement you want to renew.
3. In the expiring agreement, perform one of two actions:

   • Select Create Renewal to create a draft of the renewal agreement.

   • Select Will Not Renew to remove this agreement from the list of expiring agreements in the Expiring Agrements action card.

     Note

     The agreement must be active for the Create Renewal and Will Not Renew actions to display.

4. When you create a renewal agreement, the system copies the agreement name and adds "Renewal" to the name.
5. Go to Agreements, and select the renewal agreement draft.

Identify low scores in agreement renewals

In renewal agreement draft, you will see the following:

• Line Level, Agreement Line Name, Policy Type, and Policy Value fields are copied from the source agreement.
• Guidance fields will retrieve their current values from the Zilliant Price IQ.
• Cost and Price List fields will retrieve their current values from the Zilliant Price Manager application.
• All fields that are populated by Zilliant formulas are recalculated.

In the agreement header, examine the Weighted Score to determine any further action. This score is based on the correlation between the Policy Value and Guidance.

Scroll until you find Margin and Score columns. These will help you identify the lines with low scores as well as with low margin percentage.

Compare the source agreement with the agreement renewal

Compare the original agreement with the renewal agreement:

1. In the renewal agreement, select Lines—Renewal Compare.

2. In Lines—Renewal Compare​, view the source fields from the original agreement alongside the renewal agreement fields:

   • Score—Current value.
   • Source Line Score—The score on the original agreement.
   • Score Comparison—The difference between the source agreement line Score and the renewal agreement line Score.
   • Margin %—Generated from the renewal agreement.
   • Source Line Margin %—Reflects the margin on the original agreement.
   • Cost—Current value that represents Cost per Unit from the Common Data Model.
   • Source Line Cost—The cost from the original agreement.

Edit lines in agreement renewals

Use Mass Edit to update lines with the Policy Type—Fixed Price

Mass Edit is an optional feature that allows you to perform formulaic bulk edits or refreshes on selected line items. In agreement renewals, Mass Edit enables you to update lines with the Policy Type Fixed Price to match current costs.

To update lines with Fixed Price through Mass Edit:

1. In the Lines—Renewal Compare, select the lines with the lowest score, and then select Mass Edit.
2. In the Mass Edit Lines Items modal, in the Update Type dropdown, choose Reset Fixed Price for Current Cost.
3. Select Save.

This resets the fixed price lines on a renewal agreement to match the current higher cost and automatically brings the lines' score up for this agreement. Lines that don't have a Policy Type of Fixed Price will not be changed by this Mass Edit method.

The Mass Edit experience is the same in the Lines tab and in the Lines—Renewal Compare tab.

Use Edit to edit lines of any Policy Type

1. In the Lines—Renewal Compare, select the lines, then select Edit.
2. In the Edit Lines modal, edit the lines values from the original agreement.
3. Select Save.

Submit agreement renewals for approval

In the renewal agreement, select Submit for Approval. The agreement now goes through the approval process.
For more information, see Submit agreements for approval.