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| Certification Vendor: | Cisco |
|---|---|
| Exam Name: | Cisco Renewals Manager |
| Exam Number: | 700-805 CRM |
| Exam Format: | Multiple choice |
| Related Certifications: | Cisco Customer Experience Specialization |
| Available Languages: | Japanese, English |
| Exam Duration: | 60 minutes |
| Sample Questions: | Cisco 700-805 Sample Questions |
| Exam Way: | Proctored test via Cisco authorized testing partner |
| Pre Condition: | Recommended for Cisco partner Renewals Managers; access to Cisco SalesConnect training resources. |
| Official Syllabus URL: | https://www.cisco.com/site/us/en/learn/training-certifications/exams/crm.html |
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Cisco Renewals Manager certification is ideal for individuals who work in sales, customer service, and support roles. Cisco Renewals Manager certification is also beneficial for IT professionals who want to enhance their knowledge and skills in managing Cisco solutions. Cisco Renewals Manager certification provides individuals with a competitive advantage in the job market and demonstrates their commitment to professional development.
NEW QUESTION # 49
What is the first recommended action for a Renewals Manager?
Answer: C
NEW QUESTION # 50
Which action can a Renewals Manager take to drive value in the account?
Answer: A
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 # 51
A partner organization manually tracks renewals in a spreadsheet, quotes reactively upon request, and lacks a standardized risk logging process. Which Customer Success Practice Maturity stage does this describe?
Answer: D
Explanation:
This organization is operating at the Foundational Stage, corresponding to the Basic maturity level, because its renewal practice is predominantly manual, reactive, and insufficiently standardized. Cisco's current Customer Success Practice Maturity framework recognizes Basic, Intermediate, and Expert maturity levels, with Basic representing the entry point for partners that have begun formalizing lifecycle capabilities but have not yet developed mature, scalable operating processes. Cisco specifically introduced the Basic level to lower the entry barrier for partners developing Customer Success practices. (Cisco Blogs) The scenario contains three strong maturity indicators. First, using spreadsheets to track renewals demonstrates limited process automation and tooling integration. Second, creating quotes only when customers request them represents a reactive renewal motion, rather than Cisco's preferred proactive lifecycle approach. Third, the absence of a standardized risk log indicates that renewal risks are not being systematically identified, classified, owned, and mitigated.
The Cisco Renewals Manager v2.0 blueprint requires candidates to understand how the RM contributes to Practice Maturity and emphasizes proactive renewal management, structured workflows, stakeholder alignment, risk identification, and repeatable operational practices. (Cisco Learning Content) An Intermediate/Established practice would demonstrate documented and repeatable processes, while an Expert/Optimized practice would exhibit mature governance, advanced tooling, telemetry, automation, and continuous optimization. "Automated Stage (Executive Level)" is not the appropriate Cisco maturity classification for this low-maturity scenario.
Therefore, D is correct.
NEW QUESTION # 52
What does iarr measure?
Answer: C
NEW QUESTION # 53
Which approach should be applied when renewing a quote?
Answer: D
NEW QUESTION # 54
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