Rate Reduction Overview PDF

Rate Reduction Overview These are the following steps to complete a Rate Reduction. When a customer requests to lower their spending, the Account Executive (AE) must Customer Request create a Retention case with all relevant details and inform the customer...

Rate Reduction Overview These are the following steps to complete a Rate Reduction. When a customer requests to lower their spending, the Account Executive (AE) must Customer Request create a Retention case with all relevant details and inform the customer that SPS contracts are 12-month terms requiring a 60-day notice for reductions or cancellations. Rate Reduction cases are assigned to Contract Management Specialists, appearing in the Account Review case queue, and the first step is for the specialist to conduct an Account Review to gather details on the customer's account usage and services. Next, the CM specialist creates an Opportunity on the Supplier's account page to track Opportunity sales and create go-forward agreements. Placeholder A Placeholder Request is submitted within the Opportunity to forecast potential revenue Request loss and signal the intent for a new contract. The CM specialist contacts the customer to introduce themselves, outline contract Customer terms, confirm goals, maintain dialogue, and involve the Account Executive if needed, Communication shifting to phone calls if confusion arises. Once the customer's needs are confirmed, draft a Quote in Salesforce reflecting the Building a requested reductions, involving the AE for any necessary discounts, and submit only one Quote quote for approval. Once a quote is created, establish potential go-forward pricing, update the placeholder Submitting the rate reduction request with the customer's confirmed reductions, and submit it for final Request approval by the segment leader. After segment leader approval, Contract Management sends the new contract for Sending Contract signature on the renewal date. The Opportunity and Retention case are closed to indicate the Rate Reduction was Closing the successful. Opportunity