Cisco 700-805 Cisco Renewals Manager (700-805 CRM) Exam Practice Test

Enterprise Agreements (EAs) represent the highest value for customers who want to simplify their software licensing and management across their organization. EAs provide customers with:

Unlimited access to a suite of Cisco software products within a defined technology domain for a fixed term and price

The ability to deploy software anytime, anywhere, without additional costs or approvals

The flexibility to grow and adjust their software usage without overage fees or penalties

The convenience of co-terminating all their subscriptions at the end of the EA term

The option to include Cisco services and support in their EA2

References: 2: Cisco Enterprise Agreement - Cisco

one of the tasks that is the responsibility of the Renewals Manager is to manage recurring revenue risk, which includes:

Identifying and prioritizing renewal opportunities and challenges

Developing and executing renewal strategies and plans

Collaborating with other Cisco teams and partners to ensure customer satisfaction and retention

Negotiating and closing renewal deals

References: 2: Cisco Renewals Manager - Cisco

According to the Cisco website1, one of the critical tasks during the Qualification phase is to validate customer inventory, which includes:

Reviewing the Available to Renew (ATR) report and identifying any discrepancies or missing items

Confirming the accuracy of the contract end dates, product IDs, serial numbers, and quantities

Updating the ATR report with any changes or corrections

A success indicator for a Renewals Manager that is valid is on-time renewal. On-time renewal measures the percentage of customers who renew their contracts with Cisco before or on the expiration date. On-time renewal reflects the Renewals Manager’s ability to retain customers and revenue, as well as to increase customer satisfaction and loyalty. On-time renewal also reduces the risk of losing customers to competitors or alternative solutions. On-time renewal is calculated by dividing the number of customers who renew on time by the number of customers who are eligible to renew in a given period. On-time renewal is different from other metrics such as increased deployment of licenses, stabilized customer satisfaction scores, or new product introductions, which are not directly related to the Renewals Manager’s role or performance.

one of the strategies for successful renewal of service contracts is to explore up sell opportunities, which means:

Discussing changes in the network and identifying any uncovered additions to the network

Recommending new or upgraded products or services that can enhance customer value and outcomes

Aligning with the account team on the up sell value proposition and proposal

References: 2: Cisco Renewals Manager (700-805 CRM) Practice Exam - TestPrep

According to the Total Program View (TPV) User Guide1, the scorecard is a dashboard that provides a summary of the partner’s performance across different programs and metrics. One of the metrics that is provided in the scorecard is the renewal rate, which is defined as:

The percentage of recurring revenue that is retained or renewed within a defined time period (usually 90, 180, or 365 days)

A key indicator of customer satisfaction, retention, and loyalty

A factor that affects the partner’s incentives and rebates

References: 1: TPV User Guide - Cisco

The statement that is invalid regarding which tools can be added as value to customer and partners is B. help manage Discounts for Quoting. This is because discounts are not a tool, but a pricing strategy that can be used to attract or retain customers, increase sales volume, or clear inventory. Discounts are not something that can be added as value to customer and partners, but rather something that can reduce the value or profit margin of the seller. Tools that can be added as value to customer and partners are those that can help them solve their problems, improve their performance, or enhance their experience. For example, some of the tools that Cisco offers to its customers and partners are:

Adopt on Scores: This tool provides insight into how well customers are utilizing service and software they purchase from Cisco. It helps customers measure their adoption progress, identify gaps and opportunities, and optimize their outcomes.

Trusted Data Source: This tool provides hardware refresh and software renewal insights for customers and partners. It helps them plan ahead, stay current, and reduce risks.

Business Insights: This tool provides data-driven insights into new and unique business prospects for customers and partners. It helps them discover new markets, segments, or opportunities, and expand their sales potential.

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. 

Stealthwatch is one of the Cisco Security product offerings that focuses on identifying abnormal or suspicious network behaviors, which can help customers with:

Detecting and responding to advanced threats across their network

Gaining visibility and control over their network traffic and activity

Improving their network performance, security, and compliance

References: 2: Cisco Stealthwatch - Cisco

The primary customer value of the Cisco Services Portfolio is that it offers services packages tailored to specific customer needs. The Cisco Services Portfolio is a comprehensive set of services that help customers achieve their IT vision and strategy, optimize their IT operations, and accelerate their business outcomes. The Cisco Services Portfolio includes four types of services: Support, Advisory, Optimization, and Training. Each type of service provides different levels of value and benefits to customers, depending on their needs and goals. Customers can choose the services that best suit their situation, budget, and expectations, and customize them to their specific use cases and scenarios. The Cisco Services Portfolio enables customers to get the most out of their Cisco products and solutions, as well as address their challenges and opportunities in a flexible and effective way.

On-time renewals on Cisco products and services can provide various business benefits to customers, such as ensuring continuous support, access to the latest software updates, and improved security and performance. One of the benefits that is valid according to the Cisco Renewals Manager exam is rebates and discounts from Cisco. This means that customers who renew their contracts on time can enjoy lower prices and incentives from Cisco, which can help them reduce their total cost of ownership and increase their return on investment.

Cisco offers different types of service offerings to help customers achieve their IT vision and strategy, such as support, optimization, training, and advisory. Among these options, the one that best helps define the customer’s IT vision and strategy is advisory. Advisory services from Cisco provide expert guidance and insights to help customers design and deploy new solutions, streamline existing operations, or optimize their IT. Advisory services can also help customers align their IT goals with their business priorities, identify opportunities for innovation and growth, and measure and report on key performance indicators. 

An Accelerator is a one-on-one coaching engagement covering specific use cases that Cisco offers to its customers and partners to help them implement new technology faster and more easily. An Accelerator is a remote session with a fixed scope and a demonstrable benefit at completion. An Accelerator can cover topics such as design, configuration, migration, integration, optimization, or troubleshooting of Cisco products and solutions. An Accelerator is different from an on-call service, a deep dive on network issues, or a hosted webinar, which are not part of the Cisco Accelerator program

A discussion point that helps up sell a customer is to discuss changes in the network and identify any uncovered additions to the network. This discussion point can help us understand the customer’s current situation, needs, and challenges, as well as uncover any gaps or opportunities for improvement. By discussing changes in the network, we can show our interest and curiosity in the customer’s business, as well as demonstrate our expertise and credibility in providing solutions. By identifying any uncovered additions to the network, we can highlight the risks and costs of not having adequate protection or support for those additions, as well as propose relevant products or services that can address those issues. This discussion point can help us create value for the customer, as well as differentiate our offering from competitors.