What is a Software License Renewal?
A software license renewal is necessary at the end of a contract between a software vendor and their customer. At that time, a customer and vendor may choose to renew their current license, negotiate the existing agreement, or end the agreement. Managed well, software license renewal offers real opportunities for software vendors to deepen their relationships with existing customers and expand their software footprint in companies.
See also Secure software license
What is the Software License Renewal Process?
Software license renewal processes vary by industry, vendor, and type of license. For a successful renewal, both the seller of the software and the company purchasing it should look at how they’ve used the software in the past, how their needs may have shifted over the course of the contract, how pricing and/or the industry may have changed, and more. This can be a complex process and properly managing software license renewals can significantly improve the bottom line of any software vendor.
See also Customer satisfaction
Create Recurring Revenue with Software Licensing - White Paper
Higher Revenue, Happier Customers Part 1: Creating a Software Licensing Win-Win with Recurring Revenue: We live in a customer-centric, software and services-focused world. Customers are now driving decision making, and they increasingly expect immediate access and value-based...