What is meant by License renewal?
The term "license renewal" refers to the process of extending the validity of an existing software license after the original term has expired. A license renewal is necessary to ensure the continuous use of the software and to avoid any potential interruptions.
Typical software functions in the area of "license renewal":
- Automated Renewal Notifications: Sending notifications to users before the license expires to enable timely renewal.
- Renewal Processes: Providing simple and user-friendly processes for renewing the license.
- Renewal Management: Managing and tracking all renewals within a central system.
- Payment Processing: Integrating payment systems for the automatic handling of renewal fees.
- Renewal Reporting: Generating reports on upcoming and completed license renewals.
- Renewal Terms: Customizing renewal terms, such as duration and price, based on specific requirements or negotiations.
Examples of "license renewal":
- Automatic Renewal: The license is automatically renewed after the term expires unless the user opts out.
- Manual Renewal: The user must actively renew the license by completing the necessary steps.
- Discounted Renewal: Renewing the license at a reduced price as an incentive for timely renewal.
- Renewal with Upgrade: Renewing the license with the option to upgrade to a new version or additional features.
- Renewal with Support: Renewing the license to include additional support services.
- One-Time Renewal: Renewing the license for a one-time additional term without automatic further renewal.