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The Senior Renewal Manager is responsible for owning and executing a large portfolio of renewal contracts globally. Senior Renewal Managers are responsible for creating strategic partnerships with internal stakeholders such as Sales and Customer Success organizations to secure every renewal. They are responsible for minimizing financial attrition, locking in the most favorable terms, identifying growth opportunities and passing their findings and insights back to the business. Senior Renewal Managers are responsible for ensuring that their customers are set up for success while maximizing the financial results.
Responsibilities:
• Develop and execute win/win negotiation strategies for medium and large account contract renewals that maximize contract value while protecting and enhancing customer trust.
• Partner with Account Executives to fully understand and develop a clear renewal strategy for each customer based on data driven decisions
• Maximize account growth opportunities by playing an collaborative role on the account team and helping to drive incremental opportunities upon contract renewal. Own, drive and manage the renewals process in collaboration with the account team.
• Collaborate with internal resources such as Competitive Intelligence, Pricing, Product Management, Customer Success, Account Executives, Legal, and Sales and Revenue Operations to develop comprehensive ‘win’ strategies
• Identify customer requirements, uncover roadblocks, and demonstrate strong account management and commercial capabilities to drive renewal to on-time closure.
• Provide executive management with complete visibility to renewals and solicit executive involvement as required.
• Accurately maintain/update a rolling 120 day forecast of renewals in your territory and ensuring any uncovered risk is clearly communicated in order to develop resolution strategies.
• Follow and adhere to best practices for all internal processes including, but not limited to, Opportunity Management, Data Quality and accuracy, Quotations and Forecasting
• Adopt new initiatives and programs pro-actively and act as a subject matter expert and mentor to other members of the extended team and achieves financial and strategic targets for minimizing attrition, positioning favorable terms and boosting incremental revenue via up-sells, cross-sells and add-ons
• Engage in strategic account planning with key stakeholders at AVP, RVP level to ensure accountability across teams. Acts as a Renewals brand ambassador.
Required Skills/Experience:
• 7+ years of demonstrated success in a Sales, Operations, or Account Management capacity with a strong focus on negotiating contracts.
• Strong negotiation and objection handling skills that allow for value-based contract negotiations at the CXO level.
• Strong process management, financial acumen, and adherence to policy
• Strong customer management skills, including soft skills. Ability to demonstrate a strategic mindset to enable persuasive conversations with customers
• Ability to react and adapt to potential rapid shifts in priorities and organizational policies
Desired Skills/Experience:
• Knowledge of Open-source SAAS based products and platform features, capabilities, and best use case
• Experience negotiating complex multi-year services contracts.
• Experience with enterprise CRM or customer service application
• Ability to manage transactions through different stages using technology.
• Experience negotiating complex multi-year services contracts
• Willingness and desire to take on additional tasks or pilot projects that are beneficial to the department or to the organization
• Completion of a negotiation skills course would be an asset
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