Are you able to confidently answer the following questions?
Do I know how many subscribers I am missing to renew?
Do I know if we are still providing the service even after a contract lapse?
Do I have control to verify contracts that are defaulted and should not be renewed?
xfactrs can help with these and more.
Customer retention is key for the success of any business and all the more in the subscription world. Contract renewal plays a significant part in retention and is perhaps one of the key contributors for revenue leakage. xfactrs ensures that your automatic contract renewals have correct system configuration, customer configuration, status of customer payment due dates and defaults, and so on. The solution also highlights if any renewals are missed, or if you are renewing contracts where the customer has defaulted payments or has no intention to pay.
Insights and dashboards that xfactrs provides you to stay on top.
Detects subscribers to be renewed but not renewed
Highlights subscribers who were renewed even after contract closure
Identifies subscribers who are renewed even after payment default
Presents real-time insights into defaulted customers who are still getting the service even after lapsed contract
Provides insights into contract configuration and contracts where auto-renewals are not on