In this article, you'll find definitions of terms related to the metrics and visualizations provided by Renewal Hub. Use the clickable list below to jump right to the section you need:
- Renewal Hub Terms
- Booking Types and Related Fields
- Renewal Status and Timing
- Upsell & Downsell Status and Timing
Renewal Hub Terms
| Term | Definition |
| Aging Categories | A set of five customizable categories to categorize the days between when a renewal was due and when it was actually closed (ex: 0-7 days, 15-21 days). |
| Associated Account | If the controlling table has multiple account references, this is where you select the field the report should use for associated accounts. (The field will ONLY appear if there are multiple account references.) |
| Logic Builder | A filtering tool that allows you to build complex AND/OR groupings for filters for your report. |
| Controlling Table | The custom table on which the report will be based. All custom tables with at least one numeric or currency field are available. |
| Record Owner | A field that dictates ownership throughout the report. This can be a user reference field from the controlling table OR an account role. |
| Report-wide Filters | Filters that will be applied to ALL definitions and calculations throughout the report. |
| Timing Categories | Standard categories with fixed definitions to differentiate between decisions that are open, overdue, on-time, early, etc. |
Booking Types and Related Fields
Renewal
Renewal is a decision tied to contractual dates. It is the revenue the company is charged with renewing and what they ultimately manage to retain.
| Term | Definition |
| Up for Renewal Amount | The total amount that could/should be renewed during a renewal event. This should only include recurring dollars. Only numeric and currency fields are available. |
| Renewal Amount | The total amount that is expected to renew or that has been renewed. This should only include recurring dollars. |
| Renewal Due Date | The date by which the renewal should be decided. Also the date the report will use when filtering renewals in a date range. |
| Renewal Close Date | The date on which the renewal was decided. ChurnZero does not track this automatically, so you have an explicit field. |
Upsell
Expansions, like upsell and cross-sell, that happen OUTSIDE of a renewal event (i.e. in the middle of an active contract).
| Term | Definition |
| Upsell Amount | The total amount expected to be gained or that has been gained. This should only include recurring dollars. |
| Upsell Close Date/Start Date | The date on which the company wants to take credit for the expansion. This is typically the date the additional dollars were secured (i.e. Close date) or the date on which the expanded dollars take effect (i.e. the Start Date). This is also the date the report will use to filter upsells in a date range. |
Downsell
Contractions, like downgrades or downsells, that happen OUTSIDE of a renewal event (i.e. in the middle of an active contract).
| Term | Definition |
Downsell Amount |
The total amount expected to be lost, or that has already been lost. This should only include recurring dollars. |
| Downsell Close Date/Start Date | The date on which the company will lose the money associated with the contraction. This is typically the date the dollars were lost (i.e. Close Date) or the date on which the contraction takes effect (i.e. Start Date). This is also the date the report will use to filter downsells in a date range. |
Renewal Statuses and Timing
Renewal Due Dates are compared to the current date (if the decision is still open) or to the Renewal Close Date (if closed) to understand timing.
Open Renewals:
Open Renewals are renewals that are not yet marked as closed won or closed lost.
| Term | Definition |
| Open | Renewal Due Date is today or in the future. |
| Overdue | Renewal Due Date is in the past. |
Closed Renewals:
Closed Renewals are renewals that are marked as either closed won or closed lost.
| Term | Definition |
| Early Decision | Renewal Close Date is before Renewal Due Date. |
| On-Time Decision |
Renewal Close Date equals Renewal Due Date. Note: If Close Date is not configured in the report settings, all renewals will be seen as On-Time Decisions. |
| Late Decision | Renewal Close Date is after Renewal Due Date. |
Renewal Amount:
Renewal Amount is compared to the Up for Renewal Amount to understand renewal results.
| Term | Definition |
| Renewed with No Change | Renewal Amount equals Up for Renewal Amount. |
| Renewed with Upsell | Renewal Amount is greater than Up for Renewal Amount. |
| Renewed with Downsell | Renewal Amount is less than Up for Renewal Amount. |
Upsell & Downsell Status and Timing
Upsells and downsells, unlike renewals, do not have a due date nor an expected amount to be retained. Therefore, their status and timing definitions are simplified.
| Term | Definition |
| Open | Upsell or downsell is not yet closed (won or lost). |
| Closed Won | The upsell or downsell is closed and marked as won |
| Closed Lost | The upsell or downsell is closed and marked as lost. |
Comments
0 comments
Article is closed for comments.