Read the case study about how Aeries solutions and services help PE firms and Portfolio companies gain the maximum business.

What We Achieved

1) Create a 40-person, multilingual, specialized tech renewals team

2) A 75% increase in renewal rates and a 37% reduction in costs

3) $19 million in enhancements for technology

Businesses depend on renewal sales to provide regular recurring income, which is crucial for a company’s long-term viability. Additionally, renewal business generates better lifetime value and a larger chance for customer loyalty than nonrecurring income streams because you are delivering value over time.

Business Challenge

The client is a top supplier of mobile security and secure access solutions to businesses and service providers. A Managed Service Provider (MSP) was hired by the customer to handle renewals. Due to the MSP’s proprietary processes and tools, the customer was unable to exercise control or get insight. 40% of our client’s income came from renewing service contracts, and because of lack of control, our client was unable to leverage insights to increase customer awareness, boost renewal/upgrade rates, or adopt a cross-sell/upsell plan. The MSP was contending with high attrition rates and renewal rates that were occasionally wildly inconsistent and even dropping. Additionally, their commission rates had grown, which resulted in higher expenses.

Solutions by Aeries

By recommending switching from a managed services model to Aeries’ purpose-built approach, which allowed them dedicated resources and operations to handle their sales renewals, Aeries worked with the client to assist them solve their issues.

Upgrades of hardware products and software services as well as service maintenance contracts are part of the Tech Refresh Program (October 2016–March 2017). Used resellers and distributors for channel sales to generate leads. Worked on creating programs and campaigns with marketing.

A 40-person staff that focused on tech refresh and upgrade initiatives was gradually hired in India. They started off renewing service agreements for fresh company divisions, eventually extending to core international operations.

Frontend sales and quotation operations make up the Mumbai renewals team. They have a worldwide emphasis and are introducing new income streams to returning clients by upselling Tech Refreshes. To enhance forecasting, prioritising, and revenue realisation, Aeries used big data analytics.

For the client’s international clients, Aeries additionally engaged multilingual staff that could speak Italian, French, Spanish/Portuguese, German, Mandarin, Japanese, etc.

Commercial Impact

Utilizing Aeries’ purpose-built architecture, the customer obtained cost savings of 37% in 2019 – or USD 1M – thanks to dedicated operations and a tri-phased transition strategy created by Aeries.

Along with greater transparency and control over the business, the customer has also noticed an increase in renewal rates to 75% for the year 2019.

Additionally, it scheduled $19 million in tech updates (refreshes) for fiscal year 2019.

The team’s operational efficiency increased thanks to an increased time zone overlap with the customer and an extension of the team’s functional duties.

Streamlined corporate procedures. SLAs were lowered from 72 hours to 48 hours with the third-party vendor. The majority of queries are now responded to in less than 24 hours, directly increasing customer satisfaction. Renewals module has been implemented in Salesforce’s Sales Department.

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