Renewal Specialist
| Estimated Pay info | Based on similar jobs in your market$19 per hour |
|---|---|
| Hours | Full-time, Part-time |
| Location | Chicago, Illinois |
About this job
The Renewal Specialist is responsible for protecting and growing recurring revenue through the timely and accurate renewal of OEM hardware and software maintenance contracts and SaaS subscription agreements. This role manages the end-to-end renewal lifecycle for an assigned portfolio of customers, partnering closely with Sales, Customer Success, and internal operational teams to ensure high renewal rates, customer satisfaction, and forecast accuracy.
The Renewal Specialist serves as a trusted partner to customers and internal stakeholders by proactively managing upcoming expirations, preparing and delivering renewal quotes, addressing pricing and contract questions, and supporting renewal and expansion opportunities.
Key Outcomes & Success Metrics
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Maintain high ontime renewal execution and renewal rates
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Minimize churn and revenue erosion across assigned accounts
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Deliver accurate and timely renewal quotes and proposals
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Maintain clean, accurate renewal pipeline and activity data in Salesforce
Duties/Responsibilities
Renewal Lifecycle Management
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Proactively manage the renewal lifecycle for assigned accounts, beginning 90-120 days prior to contract expiration
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Monitor and manage a pipeline of expiring OEM maintenance and SaaS subscription agreements to ensure timely renewal execution
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Identify renewal risks early and coordinate with internal teams to mitigate churn
Quoting, Pricing & Contract Support
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Validate and process customer renewals, ensuring booking accuracy and compliance with established documentation and approval standards.
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Prepare, deliver, and manage accurate renewal quotes and proposals in accordance with customer, partner, and OEM terms
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Respond to customer and partner inquiries related to pricing, coterming, reinstatements, and contract structure
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Assist with renewal negotiations in alignment with company pricing guidelines and approval processes
Revenue Protection & Growth
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Protect existing maintenance and subscription revenue by reinforcing pricing discipline and minimizing unnecessary margin erosion during the renewal process.
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Support expansion opportunities by partnering with Sales and Customer Success as appropriate
CrossFunctional Collaboration
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Partner closely with Sales, Customer Success, Finance, and Operations to ensure a seamless renewal experience
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Serve as a primary point of contact for assigned clients, resolving inquiries independently and escalating to internal or external teams when needed to ensure prompt resolution. Further escalating operational risks or transaction blockers to Renewal Manager as appropriate to ensure timely resolution.
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Cultivate vendor relationships to improve communication, secure competitive pricing, and expedite special pricing or deal registration requests.
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Partner with Accounts Receivable to help manage invoice aging and resolve outstanding payment issues for assigned accounts.
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Collaborate with Accounts Payable to investigate and resolve held bills, ensuring timely payment processing and maintaining vendor satisfaction.
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Provide end-to-end operational support throughout the quote-to-cash cycle, ensuring accuracy, efficiency, and alignment with client expectations.
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Engage internal and external support teams to resolve customer questions or issues impacting renewal outcomes
Systems, Data & Forecasting
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Accurately document all renewal activity, customer communication, quotes, and outcomes in Salesforce
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Maintain organized records of past quotes and renewals to support quoting and forecasting
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Maintain disciplined Salesforce updates and renewal forecasting hygiene to support revenue visibility and predictability.
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Leverage historical renewal data and trends to inform pricing decisions and renewal planning
Continuous Improvement
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Contribute to process improvements that increase renewal efficiency and customer satisfaction
Education and Experience
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Bachelor's degree preferred, or equivalent relevant experience
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2-3 years of experience in Sales Support, Renewals, Customer Operations, or a related role
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Experience in the technology industry (OEM hardware, software, SaaS, or subscription based models preferred)
Knowledge, Skills, & Abilities
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Proven ability to work in a highvolume, fastpaced renewal or sales environment
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Strong written and verbal communication skills with the ability to clearly articulate pricing, terms, and next steps
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Excellent organizational, time management, and multitasking skills
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Strong analytical and mathematical aptitude, including the ability to calculate margins using costplus, listbased, and flat GPM% models
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Ability to work independently while collaborating effectively with crossfunctional teams
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Experience using Salesforce or similar CRM systems (required)
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Moderate proficiency in Excel
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Detailoriented with a strong focus on accuracy and followthrough
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Customerfocused mindset with the ability to maintain professionalism in salescentric environments
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Strong work ethic and commitment to a positive, balanced work environment