What is a contract renewal?
Most contracts cover a specific length of time, and when that time is up, the contract is no longer binding. It’s helpful to know about expiring contracts ahead of time so that you can follow up with a renewal contract and retain that customer.
How do I manage contract renewals with PandaDoc?
We wrote this step-by-step guide to show you how to use this feature. Click here to read it.
Does this feature enable automatic contracts?
No, it’s not an auto-renewal. You need to create a new contract, and the contract obligations are not renewed automatically. The PandaDoc renewal feature helps you to keep track of the upcoming expiration dates and send automated reminders to document owners.
Why are contract renewals important?
Businesses find it easier and cheaper to retain existing customers or upsell existing customers. Comparatively, it’s harder and more expensive to attract new customers.