How to Setup Renewal of Subscription in Odoo 18 | Odoo 18 Subscriptions Tutorials | Odoo 18 Features
1Subscription renewal in Odoo 18 is the automated or manual process of extending a customer's access to a subscription-based product or service for another billing cycle. It's the mechanism that keeps recurring revenue flowing and ensures continued customer access.
Here's a breakdown of what subscription renewal in Odoo 18 offers:
Automated Renewals: Odoo can automatically generate renewal invoices and process payments based on the subscription's recurring plan. This eliminates manual intervention and ensures uninterrupted service for customers.
Manual Renewals: For situations where automated renewal isn't desired (e.g., special pricing negotiations, customer requests), Odoo allows for manual renewal. You can generate a renewal quotation, modify it as needed, and then confirm it.
Renewal Quotations: When a renewal is due, Odoo can generate a renewal quotation, which is essentially a pre-filled sales order for the next subscription period.
Payment Processing: Odoo integrates with payment gateways to automatically process payments for renewals, streamlining the billing process.
Renewal History: Track the history of all subscription renewals, providing a clear audit trail of customer subscriptions and payments.
Automated Reminders: Configure automated email reminders to be sent to customers before their subscriptions are due for renewal, reducing churn and improving customer retention.
Upselling/Cross-selling Opportunities: The renewal process can be an opportunity to offer customers upgrades or related products/services, increasing revenue.
Handling Payment Failures: Odoo provides tools to manage situations where automatic renewal payments fail, allowing you to follow up with customers and resolve payment issues.
In essence, subscription renewal in Odoo 18 simplifies and automates the process of extending customer subscriptions, ensuring a consistent revenue stream and minimizing administrative overhead. It also provides opportunities to strengthen customer relationships and offer additional value.
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