Version 1 Bengaluru

Department: Business Support

Job Description

The Renewals Manager is responsible for overseeing and executing the end-to-end customer renewal process. This includes proactively managing renewal timelines, updating internal systems, analysing historical and current data to ensure profitability, and identifying potential up-sell and cross-sell opportunities. The Renewals Manager will collaborate with internal stakeholders (such as Sales, Delivery, Service Delivery) to ensure smooth and efficient contract renewals that drive revenue retention and growth.

Key Responsibilities

  1. Renewal Management
    • Own the renewal cycle from initiation to completion, ensuring timely and accurate processing of all contract renewals.
    • 7+ years of experience in contract/renewal.  
    • Coordinate with customers and internal teams to gather necessary information and approvals prior to contract expiration dates.
  2. System Updates & Documentation
    • Maintain up-to-date information in CRM, billing, and other relevant systems to track contract status and renewal progress.
    • Document all interactions, negotiations, and outcomes in accordance with company policies and procedures.
  3. Up-sell & Cross-sell Opportunities
    • Collaborate with the Sales and Customer Success teams to identify opportunities for additional products and services.
    • Present recommendations to customers on potential upgrades, add-ons, or related services to drive incremental revenue.
  4. Pricing & Rate Increases
    • Evaluate annual rate increase potential by analysing market conditions and company profitability goals.
    • Develop strategies to communicate and justify any price adjustments to customers.
  5. Data Analysis & Profitability
    • Review historical pricing, usage, and performance data to accurately determine current profitability and forecast future margins.
    • Identify trends, potential risks, and opportunities to optimize the renewal cycle and improve overall revenue retention.
  6. Cross-functional Collaboration
    • Partner with Finance to ensure invoices and contract terms align with forecasts and revenue targets.
    • Work closely with Legal and Compliance teams to ensure all contractual documents adhere to company policies and relevant regulations.
  7. Customer Relationship Management
    • Build and maintain strong relationships with customers, acting as a trusted advisor for their ongoing needs.
    • Resolve any renewal-related customer concerns, proactively escalating issues when necessary.
  8. Process Improvement
    • Continuously refine and improve renewal processes, templates, and workflows to enhance efficiency and customer satisfaction.
    • Track and report key performance metrics (e.g., renewal rates, churn, up-sell/cross-sell revenue).

Qualifications

N/A

Additional Information

At Version 1, we believe in providing our employees with a comprehensive benefits package that prioritises their well-being, professional growth, and financial stability. 

One of our standout advantages is the ability to work with a hybrid schedule along with business travel, allowing our employees to strike a balance between work and life. We also offer a range of tech-related benefits, including an innovative Tech Scheme to help keep our team members up-to-date with the latest technology. 

We prioritise the health and safety of our employees, providing private medical and life insurance coverage, as well as free eye tests and contributions towards glasses. Our team members can also stay ahead of the curve with incentivized certifications and accreditations, including AWS, Microsoft, Oracle, and Red Hat. 

Our employee-designed Profit Share scheme divides a portion of our company's profits each quarter amongst employees. We are dedicated to helping our employees reach their full potential, offering Pathways Career Development Quarterly, a programme designed to support professional growth. 

Company Description

Version 1 has celebrated over 29 years in Technology Services and continues to be trusted by global brands to deliver solutions that drive customer success. Version 1 has several strategic technology partners including Microsoft, AWS, Oracle, Red Hat, OutSystems and Snowflake. We’re also an award-winning employer reflecting how employees are at the heart of Version 1. 

We’ve been awarded: Innovation Partner of the Year Winner 2023 Oracle EMEA Partner Awards, Global Microsoft Modernising Applications Partner of the Year Award 2023, AWS Collaboration Partner of the Year - EMEA 2023 and Best Workplaces for Women by Great Place To Work in UK and Ireland 2023. 

As a consultancy and service provider, Version 1 is a digital-first environment and we do things differently. We’re focused on our core values; using these we’ve seen significant growth across our practices and our Digital, Data and Cloud team is preparing for the next phase of expansion. This creates new opportunities for driven and skilled individuals to join one of the fastest-growing consultancies globally. 

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