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TECHNOLOGY

Software Company Improves Customer Retention Through Data-Driven Decision-Making

The Challenge

A leading software company had trouble generating renewal reports that track the expiring licenses of the different products and services used by its corporate customers. Before approaching Cognizant, the company used Microsoft Excel-based manual reporting, which was not only time-consuming but also involved a complex procedure. Without a centralized data warehouse, the company lacked a single source of information from which it could retrieve the required data on about-to-expire licenses. As a result, the company was losing renewal and retention opportunities.

Our Approach

To achieve the client’s key strategic objectives, Cognizant radically transformed the company’s current model using an agile delivery approach.

Our software technology experts developed two dashboards that sit on top of a data warehouse. The first dashboard lets managers view each team’s upcoming renewals in specific windows of time and track sales teams’ performance. The second dashboard lets managers and sales representatives track renewal pricing. This solution enhances the client’s revenue forecasting capabilities by identifying incorrectly priced renewal opportunities, such as expiring subscriptions. It also eliminates the time spent on manual data processing for report generation and helps management make better decisions. 

Cognizant also provided the client with a single platform for renewal rate trend analysis and metadata-driven automated business rules management.

An Agile Automation Solution Saves the Software Giant Millions of Dollars

Automation helps the client identify potential renewal opportunities and reduce its renewal efforts by 80%. The Legal Compliance Review System Cognizant developed assists in identifying expired licenses still in use, saving the company $3 million.

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80% reduction

in renewal effort

$10 million in revenue

from increased booking over the next two years

$3 million in savings

due to reduced efforts

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