Service Contracts Management Dashboard

Service contracts managers and executives can view service contracts booking status, both new business and renewals, expirations, cancellations, and terminations. They can also manage and track the effectiveness of the renewal process.

Service contracts managers and executives can then analyze service contract trends, making long-term strategic decisions as well as short-term actions based on recently booked or cancelled contracts, upcoming expiring contracts, and already pending renewals

The Service Contracts Management dashboard shows contracts for both new business (new sub-lines, with no relationship to an original expired sub-line) and renewals (sub-lines renewed from an original expired sub-line).

The Service Contracts Management dashboard helps you accomplish the following:

• Review three states of service business: past, current, and future. Analyze service contract trends that enable long-term strategic decisions as well as short-term corrective actions.
• View service contracts and their life cycle status at a high level. Summarized contract information is complemented by reports that provide details of service contract activations, expirations, and terminations. A contract sub-line is considered active if it is signed and has a start date period to date. The booking date is irrelevant

 

Reduce revenue leakage by early detection of problems in the renewal
process. Detailed reports enable the manager to take actions based on recently
activated or cancelled contracts and on soon-to-expire contracts.
• Track performance indicators and their changes over time.

The Service Contracts Management dashboard includes contracts of the contract category Service Agreement, and Warranty and Extended Warranty. It includes all Service, Warranty, and Extended Warranty service lines.

The Service Contracts Management dashboard displays information at the contract sub-line level. Consider that a million dollar service contract contains ten sub-lines. Each contract sub-line has a value of 100,000 dollars. The Service Contracts Management dashboard displays active, terminated, and expired information for each of the ten sub-lines on that contract.

This can display contract sub-lines in different reports. For example, a million-dollar contract with ten contract sub-lines has a contract period of a calendar year. One of the contract sub-lines became active and booked on January 15 of that year. It then terminated on May 15 of that year. On December 20, when you view the reports, the contract sub-line displays in both the Activations and Terminations reports for that
year period.

KPI Definitions
The following are the Service Contracts Management KPIs:
* Beginning Active Service Contracts: The sum of the value of all contract sub-lines that were active at the beginning of the selected period.

* Expired Value: The sum of the value of all contract sub-lines that expired in the selected period to date.

* Activated New Business Value: The sum of the value of all new business contract sub-lines that became active in the selected period to date. A new business contract sub-line is considered activated in this period if it is signed and has a start date in the selected period to date regardless of the booking date.

* Activated Renewals Value: The sum of the value of all renewal contract sub-lines that became active in the selected period to date. A renewal contract sub-line is considered activated in the period if it is signed and has a start date in the selected period to date regardless of the booking date.

* Terminated Billed Value: The sum of the billed value of all contract sub-lines that have a termination date in the selected period to date. This value is equivalent to the original value of the sub-line, minus the Terminated Remaining Value.

* Terminated Remaining Value: The sum of the remaining value after termination of all contract sub-lines that were terminated in the selected period to date. It is calculated as the sum of the unbilled amount, credit amount, and suppressed credit of the terminated contract sub-lines.

• Current Active Service Contracts: The sum of the value of all contract sub-lines that are active on the selected date. A contract sub-line is considered active if it is signed and if its start date is on or before the selected date and if its end date is after the selected date

Service Contracts Management Dashboard

digital dashboard

performance dashboard