I’m looking to find a way to automatically populate a “Renewal Date” field year over year. We currently don’t have a field in our CRM that shows this, however we do have a “Customer Since Date” that marks the start date of the client’s time with us. For any new contract, calculating the renewal date is easy - just add 365 or 366 to the ‘since date’.
What I need is a way for our customers who are 1+ years old to have that date refresh automatically after the date passes. For example, if the renewal date is 28/05/2021, then on the day after a rule could then update it and add a year to the field value making it 28/05/2022.
I can’t believe this isn’t a default function within Gainsight given that it’s built for the purpose of securing renewals. Is this possible? Has anyone done something similar? Any guidance would be appreciated. Thanks in advance!
Best answer by matthew_lind
If automation is the goal, you could do this with relative ease with a Bionic Rule. The general steps would be:
- Fetch your existing Next Renewal Dates, filtering for those records where the date is in the past.
- Write a Transform task which performs a date-based calculation of Add/Subtract Date. Add 365/366 days to the existing Next Renewal Date (note….you can add in increments of Days or Weeks, but not Months or Years). That will give you a proposed Next Renewal Date.
- Design an Action which populates the record with the proposed Next Renewal Date.
I think the spots to watch for are filtering carefully in your fetch, as you’ll only want to update those records where you absolutely know the Next Renewal Date should be extended a year. If you experienced a Churn or some other scenario, you’ll want to be able to filter those records out of your automation.