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Navigating Renewals in Vendr

A Guide to Proactive Contract Management

Hannah Garner avatar
Written by Hannah Garner
Updated over a week ago

Introduction to Renewals

In the bustling world of contract management, staying ahead of renewal deadlines is crucial. Vendr's Renewals feature is specifically designed to streamline this process by providing a clear overview of all contract renewal dates and statuses, ensuring that you never miss a critical renewal deadline.

Accessing and Understanding Renewals

To begin your journey with Renewals, navigate to the Procurement section on the left-hand menu of your Vendr account. Here, Renewals are neatly categorized to reflect different stages and timings of your agreements:

  • All Upcoming Renewals: Prepare for imminent renewals.

  • All In Progress Renewals: Track the progress of ongoing renewal negotiations.

  • All Cancelled Renewals: Review which contracts won’t continue and why.

  • My Upcoming Renewals: Focus on renewals directly managed by you.

  • My In Progress Renewals: Keep an eye on renewals you are actively handling.

Each category is designed to give you quick access to essential information such as the contract's renewal deadline, associated supplier, total contract value, auto-renew status, current stage of renewal, and designated contract owners.

Customizing Your Renewals View

Vendr enables you to tailor the Renewals dashboard to suit your specific needs. You can create custom views by clicking the "+" button at the top right of the table. Whether starting from scratch or modifying an existing template, these views can be made public for team access or kept private on your local device.

Streamlining Renewal Management

From within any view, you can directly interact with contracts needing attention:

  • Start a Renewal Workflow: Initiate the renewal process with predefined steps.

  • Mark as Will Not Renew: Decide and document contracts that will not continue.

  • Complete a Renewal: Update the status once the renewal is finalized.

Proactive Renewal Notifications

A standout feature of Vendr's Renewal management is the automated notification system. Contract owners receive alerts about upcoming renewals 120 days before the due date, providing ample time to prepare and act. This proactive approach ensures that you are always ahead of the curve, ready to renegotiate terms, evaluate contract performance, or decide on continuation well in advance. These can be send via slack or email.

Utilizing the Renewal Calendar

The Renewal Calendar is your visual guide to effectively managing contract timelines. Accessible from the Renewals page, the calendar displays all contractual milestones:

  • Viewing Contract Endates: Easily see when each contract is set to end, allowing for efficient planning and resource allocation.

  • Editing and Adding Renewals: Click on any date to add new contracts or modify existing entries. For detailed adjustments, the "More options" feature opens the full contract editing page.

  • Customizing with Stickers: Add visual markers to your calendar to highlight key renewal dates, making them stand out for quicker reference.

Vendr's Renewals tool transforms the way organizations manage their contract lifecycles by offering a structured, proactive approach. With customizable views, direct management options, automated notifications, and a visual calendar, you are well-equipped to handle renewals efficiently, ensuring your business operations continue smoothly and without interruption.

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