Job Description:
The Director, Renewal Management is responsible for leading and overseeing all aspects of the renewal operations. This role requires a strategic mindset, strong leadership skills, cross-company collaboration, client relationship management and revenue optimization strategies. The Director will work closely with cross-functional teams to ensure the successful renewal of contracts, meet renewal/revenue targets and enhance client satisfaction.
Strategic Planning:
- Develop and implement strategic plans for software renewal management aligned with company’s overall objectives.
- Identify opportunities for revenue growth through renewal optimization strategies and market analysis.
- Collaborate with sales, account management, product teams, legal and accounting to align renewal strategies with client needs and market trends.
Process Optimization:
- Evaluate and refine existing renewal processes to improve efficiency and effectiveness.
- Implement automation tools and systems to streamline renewal workflows and enhance scalability.
- Monitor key performance metrics and implement corrective actions as needed to achieve renewal targets.
Revenue Management:
- Develop pricing and discounting strategies to maximize renewal rates and revenue retention.
- Analyze renewal trends and develop forecasts to support financial planning and reporting.
- Collaborate with finance and accounting teams to ensure accurate revenue recognition and forecasting.
Board Level Reporting
- Responsible for tracking and reporting out the following metrics to the ELT & Board regularly:
- Gross Revenue Retention / Net Revenue Retention
- Renewal Timing (on-time vs late)
- Renewal Forecast and Renewal Accuracy
- Churn
Escalation rates
- Cross- functional Collaboration:
- Work closely with sales, account management, finance, legal and product teams to support the renewal process.
- Collaborate with sales enablement teams to provide training and resources to renewal specialists on renewal best practices.
- Partner with product management to provide feedback on product enhancements and roadmap priorities based on client insights.
- Collaborate with internal client facing teams to ensure alignment and visibility to all client activities – sales and operational – that could impact renewal.
Team Leadership:
- Lead and motivate a team of renewal specialists, ensuring high performance and productivity.
- Provide guidance, coaching and professional development opportunities to team members.
- Foster a culture of collaboration, innovation, and continuous improvement within the renewal management team.
- Perform other duties that support the overall objective of the position.
Education Required:
- Bachelor’s degree in business, computer science, or a related field; MBA or advanced degree preferred.
- Or, any combination of education and experience which would provide the required qualifications for the position.
Experience Required:
Knowledge, Skills, Abilities:
- Knowledge of: Software renewal management, with a track record of driving revenue growth and customer satisfaction; CRM systems, contract management tools, and revenue recognition principles.
- Skill in: Leadership, strategic, problem solving, communication and interpersonal skills.
- Ability to: Develop rapport and trust with internal and external stakeholders. Lead, inspire and motivate teams to achieve goal; interpret data and market trends to inform strategic decisions; thrive in a fast-paced, dynamic environment and manage competing priorities effectively.
The company has reviewed this job description to ensure that essential functions and basic duties have been included. It is intended to provide guidelines for job expectations and the employee's ability to perform the position described. It is not intended to be construed as an exhaustive list of all functions, responsibilities, skills and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and the company reserves the right to change this job description and/or assign tasks for the employee to perform, as the company may deem appropriate.
NextGen Healthcare is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
