Gainsight NXT - Articles Impacted due to July, 2023 Release
IMPORTANT UPDATE: Our documentation is being updated to match the new July 2023 release (v6.37) navigation changes. Technical Communication team is working diligently to align everything as soon as possible. Thanks for your support.
For more information about the latest UI changes, click here.
Please note that Renewal Center is available as an add-on to our Customer Success platform. For more information on how to license it, please contact your Gainsight account manager.
This article introduces Gainsight’s Renewal Center module. Renewal Center is Gainsight’s premier tool to help teams manage renewals effectively.
Renewal Center helps renewal teams to deeply analyze and accurately forecast their renewal business. Renewal Center enriches CRM data with a predictive customer health score to identify risky customers earlier, as well as avoid missed opportunities and forecasts.
Renewal Center is a one-stop shop for all your renewal-related exercises. Currently, CSMs and renewal teams need to manually forecast every renewal opportunity for each quarter. Since this process is manual, there is a high chance that a renewal that is at risk, could be detected very late in the quarter, diminishing the CSMs opportunity to apply retention strategies. With CSMs handling multiple renewals each quarter, it gets even more difficult to track each renewal, forecast churn, and take appropriate actions.
Renewal Center helps end-users manage and forecast their book of business by enriching Salesforce Opportunities with Customer Success insights to efficiently manage renewal and related upsell opportunities, recognize risks in a timely fashion, and report on key metrics.
Renewal Center imports data from the Salesforce Opportunity object. An admin can then configure the field mappings and other parameters. Based on the field mappings and other settings configured, end users can view the Renewal Center page as shown below. The fields may vary based on the configurations set by your administrator.
Features and Benefits of Renewal Center
- Provides a centralized repository for all of your renewals and related insights.
- Recognizes timely risks and helps users efficiently manage renewal and upsell opportunities.
- Integrates with the Gainsight Scorecards module to provide health scores for each Company.
- Integrates with the Gainsight Timeline module for visibility into the customer’s recent activities.
- A Machine Learning algorithm assesses your customer data and highlights the factors that have the greatest impact to the renewal opportunity.
- Provide easy-to-update views of upcoming renewals so managers and reps can input their forecast calls.
- Highlight potential missed opportunities and opportunities that are out-of-compliance.
- Opportunity records synchronized with the opportunities in Salesforce.
- Ability to create Opportunity records in Gainsight.
- Report and analyze key retention metrics and analyze by segment and other customer attributes.
RC Viewer+Analytics License
Gainsight offers a license type called Viewer+ Analytics. Users with this license type will be able to log in to Gainsight with access to Renewal Center > Analyze page. The Forecast page will not be visible and cannot be accessed by the users with the Viewer+ Analytics license. Users can upgrade their license type to have full access to this feature.
Users with the Viewer+ Analytics license can perform the following actions:
- Access the Analyze page.
- Select the required View from the list of shared views.
- Apply global and widget level filters.
- View the drill-down report and export the Opportunities data.
Users with the Viewer+ Analytics license will have the following accessibility limitations:
- View only those Views which are shared with them.
- Cannot create a new, edit, or share view.
- Cannot add, edit, or update any opportunities.
- Can only view an opportunity linked to a CTA in read-only mode from the C360 > Cockpit > DETAIL tab > GS Opportunity tab location.
How Renewal Center Works
The process of configuring and using Renewal Center consists of two steps which must be performed by the admin. The high-level workflow diagram is presented below.
- Configure Renewal Center (RC) Opportunity Object: You must configure all of the fields in the RC Opportunity object, which would be required to save RC Opportunity data back to your Salesforce Opportunity. Data type of RC Opportunity must be the same as Salesforce Opportunity. You can configure a single item in Drop-down list fields. The rest of the items are automatically synchronized when you execute Data sync jobs. For more information about creating objects, refer to the Create a Gainsight Object manually section of the Gainsight Data Management article available in the Additional Resources section.
- Configure Dashboard, Forecast, and Renewal Filter: This task is performed on the Renewal Center admin configuration page. Admins must set up the Opportunity Type mapping, configure the Forecast Table and Detail View, and filters.
Once the admin completes the configuration, end users can start using the Renewal Center.
Limitations of Renewal Center
We are continuing to invest heavily in Renewal Center and look forward to your feedback to help us prioritize enhancements. The below are limitations we assume customers will want to be aware of upfront. Please let us know if any of these limitations (or others) impact you and we will work to prioritize them. You can share feedback via community.gainsight.com.
- Forecasting is performed at the Opportunity level and not on the opportunity product line item.
- GRR/NRR calculations are performed based on Opportunity records that exist. Customers who want to include multi-year deals on their anniversaries must create opportunities during these in-between years.