Cisco 700-805 Cisco Renewals Manager (700-805 CRM) Exam Practice Test

one of the tasks that is the responsibility of the Renewals Manager is to manage recurring revenue risk, which includes:

• Identifying and prioritizing renewal opportunities and challenges
• Developing and executing renewal strategies and plans
• Collaborating with other Cisco teams and partners to ensure customer satisfaction and retention
• Negotiating and closing renewal deals

References: 2: Cisco Renewals Manager - Cisco

The architecture that addresses customer needs for voice, video, and data is C. Collaboration. Collaboration is one of the four main architectures that Cisco offers to its customers and partners, along with Security, Data Center, and Enterprise Networking. Collaboration is the architecture that enables people to communicate and work together effectively across different locations, devices, and applications. It includes solutions for voice over IP (VoIP), video conferencing, unified communications, contact center, webex meetings, and more. Collaboration helps customers and partners improve productivity, efficiency, innovation, and customer satisfaction.

one of the strategies for successful renewal of service contracts is to explore up sell opportunities, which means:

• Discussing changes in the network and identifying any uncovered additions to the network
• Recommending new or upgraded products or services that can enhance customer value and outcomes
• Aligning with the account team on the up sell value proposition and proposal

References: 2: Cisco Renewals Manager (700-805 CRM) Practice Exam - TestPrep

Stealthwatch is one of the Cisco Security product offerings that focuses on identifying abnormal or suspicious network behaviors, which can help customers with:

• Detecting and responding to advanced threats across their network
• Gaining visibility and control over their network traffic and activity
• Improving their network performance, security, and compliance

References: 2: Cisco Stealthwatch - Cisco

The primary measurement of success for a Renewals Manager is the renewal success rate, which is the percentage of customers who renew their contracts with Cisco at the end of their term. The renewal success rate reflects the Renewals Manager’s ability to retain customers and revenue, as well as to increase customer satisfaction and loyalty. The renewal success rate is calculated by dividing the number of customers who renew by the number of customers who are eligible to renew in a given period. The renewal success rate is different from other metrics such as upsell percentage, percentage of contracts closed, or iARR rate, which are not directly related to the Renewals Manager’s role or performance.

The primary customer value of the Cisco Services Portfolio is that it offers services packages tailored to specific customer needs. The Cisco Services Portfolio is a comprehensive set of services that help customers achieve their IT vision and strategy, optimize their IT operations, and accelerate their business outcomes. The Cisco Services Portfolio includes four types of services: Support, Advisory, Optimization, and Training. Each type of service provides different levels of value and benefits to customers, depending on their needs and goals. Customers can choose the services that best suit their situation, budget, and expectations, and customize them to their specific use cases and scenarios. The Cisco Services Portfolio enables customers to get the most out of their Cisco products and solutions, as well as address their challenges and opportunities in a flexible and effective way.

On-time renewals on Cisco products and services can provide various business benefits to customers, such as ensuring continuous support, access to the latest software updates, and improved security and performance. One of the benefits that is valid according to the Cisco Renewals Manager exam is rebates and discounts from Cisco. This means that customers who renew their contracts on time can enjoy lower prices and incentives from Cisco, which can help them reduce their total cost of ownership and increase their return on investment.

Two factors that drive subscription value for customers are up to date security protection and continuous access to innovation. These factors reflect the benefits that customers can gain from subscribing to Cisco products and services, such as:

• Up to date security protection: Customers can enjoy the peace of mind that their networks, devices, and data are always protected from the latest threats and vulnerabilities. Cisco provides regular security updates, patches, and enhancements to its products and services, as well as proactive threat intelligence and prevention. Customers can also leverage Cisco’s security portfolio, which covers the entire network from edge to cloud, and provides integrated solutions for identity, endpoint, cloud, email, web, and network security.
• Continuous access to innovation: Customers can access the latest features and functionalities that Cisco delivers through its products and services, without having to purchase new hardware or software licenses. Cisco provides frequent software updates, upgrades, and releases that introduce new capabilities, improve performance, and optimize user experience. Customers can also take advantage of Cisco’s innovation ecosystem, which includes partners, developers, researchers, and customers who collaborate to create cutting-edge solutions for various industries and use cases.

According to a practice exam question from TestPrep2, the correct answer is C. proposal build. During this activity, an RM would:

• Provide an appropriate co-termination timeframe and gain required internal approvals
• Align with the account team on the renewal strategy and value proposition
• Create a renewal proposal that meets customer needs and expectations

The statement that is invalid regarding which tools can be added as value to customer and partners is B. help manage Discounts for Quoting. This is because discounts are not a tool, but a pricing strategy that can be used to attract or retain customers, increase sales volume, or clear inventory. Discounts are not something that can be added as value to customer and partners, but rather something that can reduce the value or profit margin of the seller. Tools that can be added as value to customer and partners are those that can help them solve their problems, improve their performance, or enhance their experience. For example, some of the tools that Cisco offers to its customers and partners are:

• Adopt on Scores: This tool provides insight into how well customers are utilizing service and software they purchase from Cisco. It helps customers measure their adoption progress, identify gaps and opportunities, and optimize their outcomes.
• Trusted Data Source: This tool provides hardware refresh and software renewal insights for customers and partners. It helps them plan ahead, stay current, and reduce risks.
• Business Insights: This tool provides data-driven insights into new and unique business prospects for customers and partners. It helps them discover new markets, segments, or opportunities, and expand their sales potential.