Price Uplift on Renewal allows Sales Reps to specify a pre-determined fixed or maximum percentage by which prices will increase at Renewal. Price Uplift on Renewal can be applied to Subscription and Usage products within a Subscription Offering.
Price Uplift on Renewal values are included in the Quote document signed by customers to ensure customers are not surprised at renewal. This is especially critical in the case of auto-renewals as the Contract renews without explicit acceptance of another Quote.
On Renewal Quotes, prices of products are updated by taking the prior price per unit and adding the price uplift percentage. The same behavior is followed whether fixed or maximum percentage is specified as the price uplift on renewal method for that product.
Additionally, the price uplift on renewal percentages are carried forward to the Renewal Quote.
For example, if a New Quote had 1 product on it for $100 with a price uplift on renewal of 5% fixed, the Renewal Quote would update the price per unit to $105 and retain the fixed 5% price uplift on renewal value.
Updated 26 days ago