Renew subscriptions¶
The foundation of any subscription business model is recurring payments. That’s when customers reliably pay a regular amount at specific intervals, in exchange for access to a subscription product or service.
The renewal of a subscription is the process followed by customers when they willingly choose to continue their participation (and payment) for a subscription product or service.
Subscribers experience the renewal process at different intervals – weekly, monthly, annually, etc. – depending on the duration of the agreed-upon contract.
Most companies that offer subscriptions prefer to automate the renewals process for customers, but, in some cases, manual subscription renewals are still used.
With the Odoo Subscriptions application, a company can manage all of their subscriptions in one place. Renewals can be processed automatically or manually, include additional products or upsells per renewal order, and be filtered in batch views to quickly locate customers who need to renew their subscriptions.
Subscription renewals¶
In order to renew a subscription, a quotation with a subscription product must be confirmed, with a configured Recurring Plan selected, which turns it into a sales order.
Note
Only a singular product is required.
A subscription service is still a product (albeit a digital, recurring one)
Then, that sales order needs to be confirmed, and payment from the customer for the initial subscription has to be invoiced and registered.
When those steps are complete, an In Progress tag is applied to the sales order form, and a series of buttons appear at the top of the sales order – including a button titled, Renew.
When the Renew button is clicked, Odoo instantly presents a new renewal quotation, complete with a Renewal Quotation tag.
From here, a standard sales flow can occur in order to confirm the quotation. This typically begins by clicking Send by Email. This sends a copy of the quotation to the customer, by email, for them to confirm, and eventually, pay for.
Note
In the Chatter of the Renewal Quotation, it is mentioned that this subscription is the renewal of the subscription from the original sales order.
Once the Renewal Quotation is confirmed, it becomes a sales order, and a Sales History smart button appears at the top of the page.
When that Sales History smart button is clicked, Odoo reveals a separate page, showcasing the different sales orders attached to this subscription, along with their individual Subscription Status.
Additionally, once the Renewal Quotation is confirmed, an MRR smart button also appears at the top of the sales order.
When clicked, Odoo reveals an MRR Analysis page, detailing the monthly recurring revenue related to this specific subscription.