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Cisco Renewals Manager exam is an important certification for professionals who work in customer-facing roles in the technology industry. By demonstrating their knowledge and skills in managing customer contracts and renewals, certified professionals can help their organizations build stronger relationships with customers and drive long-term success.
Cisco 700-805 exam covers a wide range of topics, including the renewal process for Cisco products and services, customer lifecycle management, contract management, and customer relationship management. It also covers topics such as pricing and licensing options, contract negotiations, and customer retention strategies. 700-805 exam is designed to test the candidate's ability to effectively manage the renewal process for Cisco products and services, and to ensure that customers are satisfied with their Cisco solutions.
NEW QUESTION # 16
Who do Renewals Managers (RMs) work with?
- A. RMs work with pre-sales engineers and build customer solutions.
- B. RMs work with service delivery teams and monitor engagements.
- C. RMs work by themselves to develop a high level view customer requirements and objectives.
- D. RMs work with account managers to drive ongoing revenue risk assessments and plays.
Answer: B
NEW QUESTION # 17
What is Practice Maturity?
- A. a calculation of the number of deals won and lost
- B. a compass of how a partner is performing against key Cisco priorities and outcomes, as well as against their peers
- C. a reflection of a partner's career length based on their employees' service duration
- D. an evaluation of a partner's negotiation skills
Answer: B
NEW QUESTION # 18
Which critical task must a Renewals Manager perform during the Qualification phase?
- A. Deliver a quote.
- B. Validate customer inventory.
- C. Share the proposal with the customer.
- D. Develop a Customer Success Plan.
Answer: B
NEW QUESTION # 19
In addition to on-time renewals, on which two tasks should Renewal Managers focus? (Choose two.)
- A. driving adoption
- B. developing a customer success story
- C. the next customer and their needs
- D. opportunities for upsell
- E. renewing offer to a multiple-year contract
Answer: D,E
NEW QUESTION # 20
Which statement best summarizes the intended outcome of the Success Plan?
- A. grow incremental annual recurring revenue
- B. generate financial data that indicates a customer's propensity to renew
- C. provide scheduling for resolving customer qual y issues
- D. development of a customer-centric view for achieving value from their portfolio
Answer: D
Explanation:
the Success Plan is:
* A document that outlines the customer's goals, challenges, desired outcomes, and success metrics
* A collaborative effort between Cisco, partners, and customers to align on the customer's vision and strategy
* A roadmap that guides the customer through the lifecycle stages of plan, build, adopt, and renew
* A development of a customer-centric view for achieving value from their portfolio References: 1: Success Plan - Cisco
NEW QUESTION # 21
Which two actions does a partner or customer perform within CCW-R? (Choose two.)
- A. view and manage their contracts
- B. order new services
- C. download hardware, software and services data sheets
- D. change Customer Address
- E. set up billing
Answer: A,D
NEW QUESTION # 22
Which statement best describes the Success Plan?
- A. a document capturing a comprehensive view of all customer health scores
- B. a tool for report ng actions to management
- C. the blueprint for account teams to achieve customer success
- D. a shareable document that captures all account activities
Answer: A
NEW QUESTION # 23
Which strategy for successful renewal of service contracts calls for discussing changes in the network and identifying any uncovered add tons to the network?
- A. focus on benefits
- B. lock in revenue streams through co-termination
- C. explore up sell opportunities
- D. validate the customer's business needs
Answer: C
NEW QUESTION # 24
Which case represents a risk of renewal where a mitigation analysis will help obtain a more desired outcome?
- A. Customer is willing to subscribe to a recommendation case to be publicly communicated.
- B. The health index of a customer is over expected targets with no red flags.
- C. The adoption rate is 50%under the expected level and the plan is six months before the expiration date.
- D. There are no open incidents 30 days before renewal dates.
Answer: A
NEW QUESTION # 25
A customer has many a la carte Enterprise Networking licenses and many Webex users. The customer wants to grow both groups and needs a compelling and simplified proposal. Which Cisco offer should be suggested to the customer?
- A. provide a discount for Enterprise Networking and Webex licenses
- B. prepare a partner-branded managed service deal
- C. position an Enterprise Agreement
- D. propose to migrate to a perpetual model
Answer: C
NEW QUESTION # 26
What does the Customer Experience Lifecycle approach enable partners to do?
- A. guarantee an upsell
- B. eliminate all problems
- C. provide technical support
- D. deliver customer business outcomes
Answer: D
NEW QUESTION # 27
What is the key implication on-time renewals have for an IT provider company?
- A. Incentives will be paid
- B. Recurring business is preserved
- C. Improved customer satisfaction
- D. No major impact if sales are on plan
Answer: B
NEW QUESTION # 28
Which key benefit is included in the Cisco Services Partner Program (CSPP)?
- A. guarantees profitability to partners regardless of their performance.
- B. provides discounted software licensing to partners.
- C. offers access to a comprehensive service portfolio, allowing partners to address diverse customer needs
- D. provides partners with a predetermined customer base
Answer: C
NEW QUESTION # 29
Which service offering helps define the customer's IT vision and strategy?
- A. Advisory
- B. Optimization
- C. Training
- D. Support
Answer: A
Explanation:
Cisco offers different types of service offerings to help customers achieve their IT vision and strategy, such as support, optimization, training, and advisory. Among these options, the one that best helps define the customer's IT vision and strategy is advisory. Advisory services from Cisco provide expert guidance and insights to help customers design and deploy new solutions, streamline existing operations, or optimize their IT. Advisory services can also help customers align their IT goals with their business priorities, identify opportunities for innovation and growth, and measure and report on key performance indicators.
NEW QUESTION # 30
What are the primary benefits of using AutoQuote in the renewal process?
- A. increase time spent on manual quote creation and focus more on programming
- B. automatically generate quotes, consolidate opportunities, and enhance efficiency
- C. eliminate the need for a Renewals Manager and all customer interactions
- D. automatically offer free software upgrades and exclusive discounts
Answer: B
NEW QUESTION # 31
Which discussion point helps upsell a customer?
- A. Focus on how much it will cost the customer.
- B. Discuss changes in the network and identify any uncovered additions to the network.
- C. Focus on what the customer already has covered on the network.
- D. Discuss your priorities and why you need the sale.
Answer: B
NEW QUESTION # 32
Which action can a Renewals Manager take to drive value in the account?
- A. Def ne the account forecast.
- B. Manage and mitigate renewal risk.
- C. Removing adopt on barriers.
- D. Align partners on training.
Answer: B
Explanation:
An action that a Renewals Manager can take to drive value in the account is to manage and mitigate renewal risk. Renewal risk is the possibility that a customer will not renew their contract with Cisco at the end of their term, resulting in revenue loss and customer churn. Renewal risk can be caused by various factors, such as low adoption, poor satisfaction, lack of value realization, competitive pressure, budget constraints, or organizational changes. A Renewals Manager can manage and mitigate renewal risk by:
Identifying and prioritizing the accounts that have the highest risk of non-renewal, using data and tools such as ATR (Annualized Total Revenue), ARR (Annual Recurring Revenue), iARR (Incremental Annual Recurring Revenue), TPV (Total Partner Value), icebreaker (a tool that provides insights into new and unique business prospects), and Adopt on Scores (a tool that provides insight into how well customers are utilizing service and software they purchase from Cisco).
Developing and executing a risk mitigation plan for each high-risk account, involving actions such as engaging with the customer, understanding their needs and challenges, demonstrating value and ROI, addressing any issues or concerns, proposing improvements or enhancements, offering incentives or discounts, or leveraging partners or references.
Monitoring and tracking the progress and results of the risk mitigation plan, using data and tools such as CCW-R (Cisco Commerce Software Subscriptions and Services), which is a tool that allows customers and partners to quote, order, and manage their service contracts and software subscriptions from one place; and Customer Success Plan, which is a document that captures the account team's strategy and actions to achieve customer success.
Collaborating with other account team members, such as Customer Success Managers, Account Executives, or Sales Engineers, to align on the renewal strategy, share information and insights, coordinate activities and touchpoints, and deliver a consistent and positive customer experience.
By managing and mitigating renewal risk, a Renewals Manager can drive value in the account by increasing the chances of a successful renewal, retaining customers and revenue, enhancing customer satisfaction and loyalty, and creating opportunities for upsell or cross-sell.
NEW QUESTION # 33
Which service offering helps define the IT vision and strategy of the customer?
- A. advisory
- B. support
- C. optimization
- D. training
Answer: A
Explanation:
According to the Cisco website1, advisory services from Cisco and their partners provide expert guidance and data-driven insights to help customers architect and optimize their IT environment. Advisory services can help customers with:
* IT strategy and planning
* Business and technology alignment
* IT governance and operating models
* IT transformation and innovation
* IT performance and optimization
References: 1: Services - Cisco
NEW QUESTION # 34
Which event begins the Renewal process?
- A. upsell recommendation
- B. contract negotiation
- C. notification of contract expiration
- D. implementation of software
Answer: C
NEW QUESTION # 35
Which services are contained in the CX portfolio?
- A. Support Services, Business Critical Services and Professional Services
- B. Support Services and Business Critical Services
- C. Support Services, Business Critical Services, Professional Services, Managed Services, and Learning Services
- D. Support Services, Business Critical Services, Professional Services and Managed Services
Answer: C
NEW QUESTION # 36
Which critical task must be performed during the Qualification phase?
- A. Renewal Plan development
- B. quote delivery
- C. validate customer inventory
- D. develop a Success Plan
Answer: C
Explanation:
According to the Cisco website1, one of the critical tasks during the Qualification phase is to validate customer inventory, which includes:
* Reviewing the Available to Renew (ATR) report and identifying any discrepancies or missing items
* Confirming the accuracy of the contract end dates, product IDs, serial numbers, and quantities
* Updating the ATR report with any changes or corrections
NEW QUESTION # 37
Which statement regarding which tools can be added as value to customer and partners is invalid?
- A. help manage Discounts for Quoting
- B. gain insight into new and unique business prospects for your customers and expand sales potential
- C. Adopt on Scores which provide insight into how well customers are utilizing service and software they purchase
- D. Trusted Data Source for Hardware Refresh and Software renewal insights
Answer: A
NEW QUESTION # 38
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