Concept: Customer Contract Renewals
Workday streamlines the renewal process for customer contracts by enabling you to create
renewable sales items and manage renewal terms. You can manage renewal terms on the
contract or customer profile. You can also build reports to identify customer contract
lines that are up for renewal.
Sales Items
Mark sales items as
Renewable
either when you create them or when you
enter them on customer contract lines. You can edit the renewal terms on the
customer contract line or using the Renewal Base
report on
the customer profile. You can:- Add customer contact information.
- Configure the sales item to renew automatically.
- Set From and To dates.
- Enter the renewal quantity, rate, amount, and percent.
Renewal Reports
In addition to building custom reports to access renewal information, you can use the
Find Expiring Customer Contracts
report to identify
contracts that you want to manage. You can configure the end date on the report to
meet the needs of your organization.