Manage Renewals and Contracts

Overview

Use this guide to add contracts, prepare renewal reviews, and avoid missed notice periods.

Goal

Create accurate renewal records and complete a renewal review before the deadline.

Before You Begin

• Sign in to Liceo.
• Gather contract start date, renewal date, notice period, vendor, value, and owner.
• Gather current usage and seat data for linked apps.

Step 1 - Open renewals or contracts

1. 1
   Open Assets in the left sidebar.
2. 2
   Select Renewals to review upcoming deadlines.
3. 3
   Select Contracts to manage contract records.

Step 2 - Add a contract

1. 1
   Open Contracts.
2. 2
   Select Add Contract.
3. 3
   Select or enter the vendor.
4. 4
   Link related app licenses.
5. 5
   Enter start date.
6. 6
   Enter renewal date.
7. 7
   Enter notice period.
8. 8
   Enter contract value and billing frequency.
9. 9
   Upload or link the contract file.
10. 10
    Assign an owner.
11. 11
    Save the contract.

Step 3 - Prepare a renewal review

1. 1
   Open Renewals.
2. 2
   Select a renewal due in the next review window.
3. 3
   Open the linked license or contract.
4. 4
   Review purchased seats.
5. 5
   Review active and unused seats.
6. 6
   Review total spend and cost per active user.
7. 7
   Review duplicate or similar tools.
8. 8
   Ask the owner for a renewal recommendation.

Step 4 - Review auto-renewal risk

1. 1
   Open the contract.
2. 2
   Check whether Auto-Renew is enabled.
3. 3
   Confirm the notice period.
4. 4
   Set or verify reminders before the notice deadline.
5. 5
   Assign a responsible owner.

Step 5 - Record the renewal decision

1. 1
   Decide whether to renew, reduce, renegotiate, replace, or cancel.
2. 2
   Update the contract or license notes.
3. 3
   Upload supporting documents if needed.
4. 4
   Select Mark Renewed if the renewal is complete.
5. 5
   Update the next renewal date.

Troubleshooting

Renewal does not appear

Open the linked license or contract and add a renewal date.

Notice deadline is missing

Edit the contract and add the notice period.

Contract value is wrong

Edit the contract value and confirm billing frequency.