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NEW QUESTION # 50
Which discussion point helps up sell a customer?
- A. Focus on how much it will cost the customer.
- B. Discuss changes in the network and identify any uncovered additions to the network.
- C. Discuss your prior ties and why you need the sale.
- D. Focus on what the customer already has covered on the network.
Answer: B
NEW QUESTION # 51
How does the Renewals Manager integrate with the sales team?
- A. by directing the overall operations of the team
- B. by handling all financial transactions
- C. by overseeing all technical support issues
- D. by collaborating on customer retention and renewal strategies
Answer: D
NEW QUESTION # 52
How does Cisco define Business Critical Services?
- A. Pay-as-you-go, services covering business-critical functions
- B. Pay-as-you-go, technology-based services
- C. subscription-based services covering the lifecycle of a technology
- D. hardware replacement
Answer: A
NEW QUESTION # 53
Which task should a Renewals Manager perform during the Prospect phase?
- A. Risk Mitigation
- B. Review new opportunities
- C. Terms negotiation
- D. Risk Assessment
Answer: B
NEW QUESTION # 54
Which approach should be applied when an opportunity is available to renew?
- A. barriers-led approach
- B. reward-led approach
- C. product-led approach
- D. solutions-led approach
Answer: D
NEW QUESTION # 55
What are two important actions of a successful Renewals Manager? (Choose two.)
- A. schedule daily meetings with the customer
- B. align solely with the Customer Success Manager
- C. understand the portfolio of products and services
- D. build and maintain relationships with internal and external stakeholders
- E. proactively solve TAC issues
Answer: C,D
NEW QUESTION # 56
Which product addresses network segment a in issues and is comprised of Viptela and Meraki products?
- A. SD-WAN
- B. Tetration
- C. Cloud services
- D. Security applications
Answer: A
Explanation:
SD-WAN is the product that addresses network segmentation issues and is comprised of Viptela and Meraki products. SD-WAN stands for Software-Defined Wide Area Network, which is a technology that simplifies the management and operation of a WAN by decoupling the networking hardware from its control mechanism. SD-WAN enables enterprises to use multiple types of transport services, such as MPLS, broadband, LTE, or 5G, to securely connect users to applications hosted in data centers or the cloud. SD-WAN also provides centralized visibility and control, dynamic path selection, application optimization, and security policies for the entire network.
Viptela and Meraki are two of Cisco's SD-WAN solutions that cater to different customer needs and preferences. Viptela is a cloud-first SD-WAN solution that offers advanced routing, segmentation, and security capabilities for complex enterprise networks. Viptela can be deployed on-premises or in the cloud, and supports multiple transport options, including cellular wireless. Meraki is a cloud-managed SD-WAN solution that offers simplicity, reliability, and automation for lean IT environments. Meraki can be deployed using plug-and-play devices, and provides easy configuration, monitoring, and troubleshooting through a web-based dashboard.
Both Viptela and Meraki products help enterprises address network segmentation issues by enabling them to create secure virtual networks that isolate traffic based on business intent and policy. Network segmentation improves network performance, security, and compliance by reducing congestion, preventing unauthorized access, and enforcing granular rules.
NEW QUESTION # 57
Which action can a Renewals Manager take to drive value in the account?
- A. Removing adopt on barriers.
- B. Align partners on training.
- C. Manage and mitigate renewal risk.
- D. Def ne the account forecast.
Answer: C
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 # 58
When renewing a contract with a customer, which action is important?
- A. Start discussions once the contract has expired.
- B. Do not offer any financing solutions.
- C. Validate customers business needs.
- D. Propose only the most important part of the solution.
Answer: D
NEW QUESTION # 59
Which action can a Renewals Manager take to drive value in the account?
- A. Removing adopt on barriers.
- B. Align partners on training.
- C. Manage and mitigate renewal risk.
- D. Def ne the account forecast.
Answer: C
NEW QUESTION # 60
What is the implication of on-time renewals for an IT service provider company?
- A. Incentives will be paid.
- B. No disruption to recurring revenue.
- C. There is no significant impact if sales are on plan.
- D. Customer satisfaction is improved.
Answer: B
NEW QUESTION # 61
Which success indicator for a Renewals manager is valid?
- A. New product introductions
- B. On-time renewal
- C. Stabilized customer satisfaction scores
- D. Increased deployment of licenses
Answer: B
NEW QUESTION # 62
What is the main purpose of CCW-R?
- A. to allow customers and partner store new software subscriptions and service contracts from one tool
- B. to factor customer ATR, up sell and attrition
- C. to allow customers and partners to download renewal data
- D. to capture partner and customer billing preferences
Answer: A
Explanation:
CCW-R stands for 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. CCW-R enables users to create new or renew technical services and software subscription quotes, submit approved orders, and manage their contracts. CCW-R also provides features such as co-terming, contract alignment, service level changes, and deal discounts. CCW-R is designed to simplify the renewal process and enhance the customer experience
NEW QUESTION # 63
Which area of the success plan is the renewal manager responsible?
- A. Barriers predicted
- B. Adoption barriers overcome
- C. Solution renewal
- D. Success plan hypothesis
Answer: C
NEW QUESTION # 64
Which two actions can a partner or customer perform within CCW-R? (Choose two.)
- A. download hardware, software and services datasheets
- B. set up billing
- C. view and manage their contracts
- D. order new services
- E. change Customer Address
Answer: C,E
Explanation:
According to the CCW-R User Guide5, some of the actions that a partner or customer can perform within CCW-R are:
* Change Customer Address: This allows the user to update the customer address information for a quote or an order.
* View and Manage their Contracts: This allows the user to view their contract details, status, expiration date, product coverage, etc., as well as request a quote or renew their contracts.
References: 5: CCW-R User Guide - Cisco
NEW QUESTION # 65
Which service offering helps define the customer's IT vision and strategy?
- A. Training
- B. Advisory
- C. Support
- D. Optimization
Answer: B
NEW QUESTION # 66
What is the ATR on a $10, 000 one year recuring revenue contract?
- A. $10,000
- B. 10% of $10,000
- C. $1,200
- D. $10,000 divided by 12
Answer: A
Explanation:
ATR stands for Annualized Total Revenue, which is a metric that measures the total revenue generated by a customer contract over a 12-month period. ATR is calculated by multiplying the monthly recurring revenue (MRR) by 12. For example, if a customer pays $100 per month for a service, the ATR is $100 x 12 = $1,200.
Therefore, the ATR on a $10,000 one year recurring revenue contract is simply $10,000, since the MRR is already $10,000. ATR is useful for comparing the revenue potential of different contracts with different billing cycles or durations
NEW QUESTION # 67
Which architecture addresses customer needs for voice, video, and data?
- A. Data Center
- B. Security
- C. Enterprise networking
- D. Collaboration
Answer: D
Explanation:
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.
NEW QUESTION # 68
Which case represents a risk of renewal where a mitigation analysis will help obtain a more desired outcome?
- A. Customer is willing to subscribe to a recommendation case to be publicly communicated.
- B. The health index of a customer is over expected targets with no red flags.
- C. The adoption rate is 50%under the expected level and the plan is six months before the expiration date.
- D. There are no open incidents 30 days before renewal dates.
Answer: C
Explanation:
This case represents a risk of renewal where a mitigation analysis will help obtain a more desired outcome. A low adoption rate indicates that the customer is not fully utilizing the solution or deriving the expected value from it. This can lead to dissatisfaction, reduced engagement, and increased likelihood of churn. A mitigation analysis can help identify the root causes of the low adoption rate, such as lack of training, technical issues, poor fit, or misalignment of expectations. Based on the analysis, a mitigation plan can be developed and implemented to address the issues and increase the adoption rate. For example, the plan could include providing more support, education, or guidance to the customer, resolving any bugs or glitches, customizing or adjusting the solution to better suit their needs, or redefining the success criteria and metrics. A mitigation analysis and plan can help improve the customer's satisfaction, retention, and loyalty, as well as increase the chances of a successful renewal.
NEW QUESTION # 69
What support should a Renewal Manager take from the Customer Success Manager? (Choose the best answer.)
- A. Oversee the closure of contracts.
- B. Communicate value and the impact of Cisco solutions
- C. Book customer-service briefings.
- D. Communicate new green field opportunities.
Answer: B
NEW QUESTION # 70
What is the primary measurement of success for a Renewals Manager?
- A. upsell percentage
- B. iARR rate
- C. percentage of contracts closed
- D. renewal success rate
Answer: A
NEW QUESTION # 71
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