foreign we're going to take a look at the new feature in Tokyo for contract renewal something that asset managers deal with on a regular basis is renewals for their asset contracts servicenow has introduced a process to allow this to flow seamlessly and ensure you capture all components necessary for the renewal so let's get started and see how this works we'll Begin by heading to the contracts module and selecting the contract model for software licenses the renewal process is focused on asset management and so only specific contract models are supported for this flow in software Asset Management professional those are going to be subscriptions and software licenses let's open the contract we want to begin the renewal process on so here's our contract we've got our terms and conditions our finances our assets that are covered but we know that this is coming up for renewals soon so let's start we're going to agree that we want to indeed trigger the renewal flow and here we are contract renewal request it shows us the contract we want to renew that the renewal is in progress and then we have our renewal request lines our open tasks and then all tasks that are occurring in the flow so let's go ahead and get started so the first thing that we're going to do is build the renewal so here we need to enter the information associated with the contract so let's put that information in now we'll say that this is tax exempt and you'll see our end date automatically populates once we select the options for how many years all right we've put our contract information in let's go ahead and close the task next we have our software asset selection because this was a software license renewal let's go ahead and look at that so you'll see our planned entitlements we already have one on here because it is Perpetual plus maintenance and so it's available to us because entitlements that follow those license types are carried over on the new contract however now we'll just be having the maintenance renewal so of course we're going to create an entitlement for that so this is just the maintenance contract and of course we want this to be the same great so we're not going to fill in any of this other information right now but we've created our entitlement now you'll notice that if I click publish it's going to bring me back to the renewal request but it does give me this information that says since this is in a renewal process it will be published when we approve or reject so now we've gone ahead and we've got a Perpetual plus maintenance which was carried over and now we've got our new maintenance contract that's going to be continuing on so let's close the task great now we've got our terms and conditions moving in here you can see our terms and conditions are still here from our original contract and when we click into them we can make adjustments if there's any updates or anything like that that would occur we can add that or update those terms accordingly great our terms and conditions are updated let's close the task next we have raid cards these aren't going to be on every contract but a good example could be if an organization has a contract with another company that oversees their technical operations in their data centers the contract costs use a specific server model in a New York data center but that's different from maybe the Madrid data center so there are two rate cards to detail those costs separately our software model doesn't have those so we're going to say that there's no rate cards necessary and we're just going to close this task however if you did have a software model that does have rate cards associated with it for its entitlement you can add those in the related list Associated on the renewal task for rate cards now we've got our renewal confirmation you can see here that we're just trying to confirm the contract details before we move to an approval stage we can look at our renewal contract we can look at the original contract we can look at our planned entitlements and if we agree with all this we're going to confirm the renewal great now we can see that we have our renewal approval and you can see that in this step it's just a confirmation that we want to move it towards approval so once we confirm that the contract is the way we want it to be we simply add any notes if necessary and then we close this task now we've moved to the approval state where we're awaiting approval and now that additional related list for approval history is present just like any other approval and service now this is going to be available for the designated approver under my approvals they'll see the information associated with the contract and they can review and then approve using these standard UI actions that are on an approval task for our purposes in this demonstration however we're just going to initiate the approval from here great now you can see that we have the purchase order this is automatically generated because we said we needed the maintenance entitlement added there's our purchase order there's our costs it's requested and so we're just going to initiate the procurement steps quickly here so we've ordered the software and we're just going to then initiate the receive great so now this is automatically closed because we've received our software purchase so the overall renewal task is now complete there's our purchase order [Music] and if we go back you can see the overall renewal is completed all of our tasks are completed we have our approval history and our contract lines going to the old contract under contract history there's our new contract which is in the draft state but approved because of course it hasn't started yet this is just one of many ways servicenow can streamline software asset management and glide fast is here to help every step of the way thanks for joining us today with this review of contract renewal requests for software Asset Management have a great day [Music] thank you [Music]