Renew and sync contracts and opportunities for Salesforce-NetSuite (IO) (add-on)

The contract renewal add-on supports NetSuite’s contract renewal module. The add-on supports the complete cycle of managing a contract, starting from the creation of a new contract to an upsell, down-sell to renewal on an existing contract. 

Understand contract renewal

The NetSuite Contract Renewal Cloud Services Module (previously known as NetSuite Contract Renewal Module) allows you to manage contracts and contract renewals.

If you're a software and services firm, the module can help you manage your recurring revenue contracts. It is imperative for your company to manage and optimize recurring revenue streams to maintain the long-term health and success. The contract renewal module helps you to:

• Automate renewals
• Increase customer retention
• Reduce overall operational costs

The contract renewal module creates contract renewal records from a new or existing contract based on set preferences. If you’ve enabled the Contract Renewal module in your NetSuite account you can sync your contract renewal information from NetSuite to Salesforce using Celigo's Contract Renewal Add-on. The contract renewal add-on will sync contract information from NetSuite to Salesforce using the model for contract renewal in your NetSuite Account. 

The contract renewal add-on has two flows:

Sync NetSuite Contracts to Salesforce Contracts

This flow allows you to sync a NetSuite Contract to Salesforce Contract in real-time. The flow will run every time a contract record is generated or updated. The flow also links the newly created Contract to an Opportunity in Salesforce.

1. When you create a Salesforce Contract Opportunity, the Salesforce Opportunity to NetSuite Sales Order flow gets triggered.
2. The Contract Renewal module creates a new Contract from the newly created NetSuite Sales Order.
3. The flow syncs the new NetSuite Contract to Salesforce Contract.
• Notes:
  • The contract renewal module creates Contract Items from NetSuite Items. 
  • You can see Contract Item details as a related list on a Salesforce Contract record. 

NetSuite Opportunity to Salesforce Opportunity 

This flow allows you to sync a NetSuite Opportunity to Salesforce Opportunity in real-time. It will run every time NetSuite creates a Renewal Opportunity record from a contract. Whenever the contract renewal module creates a new NetSuite Renewal Opportunity, the flow:

1. Creates a Salesforce Renewal Opportunity from a NetSuite Renewal Opportunity. 
• You can set the Opportunity Stage after the sync is over.
  Example: Change Opportunity Stage from prospecting to quoting
2. Searches a matching Salesforce Account record for a NetSuite Customer of a Contract and:
   • Creates a new Salesforce Account if it does not find a matching record.
   • Updates an existing Salesforce Opportunity if it finds a matching Account record.

Understand contract transactions

New contract opportunity 

1. Salesforce Opportunity to NetSuite Sales Order: when you change the Opportunity Stage of a Salesforce Contract Opportunity to Closed/Won, the flow gets triggered. The flow creates a NetSuite Contract Sales Order.
2. NetSuite Contract Renewal module: automatically creates a NetSuite Contract from the newly created NetSuite Contract Sales Order.
3. NetSuite Contract to Salesforce Contract: the flow is triggered when a new NetSuite Contract is created. The flow syncs a NetSuite Contract to Salesforce Contract.
• NetSuite Contract Record: The contract record in NetSuite contains the list of recurring items on a Sales Order and the Terms applicable to each Item.
• The flow also sends a ‘From Contract’ link from Salesforce to help you track and report renewed contracts vs. churn rate.
4. NetSuite Opportunity: 
• When your Sales representative marks the Stage of a Renewal Opportunity as Closed or Won, the flow syncs the Salesforce Renewal Opportunity to NetSuite Renewal Sales Order.
• The Renewal Sales Order will also create a new Contract for the Renewal Term.

Upsell Opportunity 

You can create an Upsell Salesforce Opportunity by selecting an active Contract that was previously synced by the “NetSuite Contract to Salesforce Contract” flow. 

1. Once you update and save an Upsell Opportunity the “Salesforce Opportunity to NetSuite Sales Order” flow is triggered. The flow will create an Upsell NetSuite Sales Order.
2. The Contract Renewal module adds Contract Items to an existing Contract from the Upsell Opportunity line item record. 
3. When an Upsell Contract is created, the NetSuite Contract to Salesforce Contract flow is triggered. The flow syncs the Upsell Contract along with the Contract Line Items from NetSuite to Salesforce.

Contract Renewals 

Whenever the Contract Renewal module creates a renewal Opportunity for a Contract in NetSuite:

• The NetSuite Opportunity to Salesforce Opportunity flow gets triggered. The flow syncs the Renewal Opportunity from NetSuite to Salesforce. 
• When your sales representative changes the Opportunity Stage to Closed or Won, the Salesforce Opportunity to NetSuite Sales Order flow is triggered.
• The flow creates a NetSuite Renewal Sales Order from a Salesforce Renewal Opportunity.
• The Contract Renewal module will now create a Renewal Contract from the NetSuite Sales Order.