Recurring business with existing customers is a key source of revenue for some organizations who will establish contracts with clients that repeat after a certain period of time. Each time the revenue is due, the sale needs to be tracked through the pipeline so that it’s reflected in the sales pipeline, revenue forecasts, product trends, and more. However, managing renewal opportunities at scale can prove time-consuming, and can easily be automated.
In this article, I am going to explain how to create a renewal opportunity via Process Builder.
A couple of things to note:
- You can use this Process Builder for simple opportunities. If you need to launch an opportunity with child records (eg. products, schedules), then a flow with loops will work better.
- If you are a Salesforce CPQ customer, a renewal checkbox comes out-of-the-box which cannot be circumnavigated, otherwise the chaining breaks.
Setting the Scene
I am working as a Salesforce Administrator and I have received a requirement to automate renewal opportunity when certain opportunities are ‘closed won’ (note: not ALL opportunities!). The auto created new opportunity should have the same details of previous opportunity, except that the Stage should be ‘Prospecting’ (the first stage of the Opportunity sales process) and the close date should be 1 year from today (+ 365 days).
What we will do to achieve this, is create an ‘Auto Renew’ checkbox field that sales users can select if they want this opportunity to automatically review, or not. Then I will create the Process Builder that will power the automation.
Step 1: Create an Auto Renew Checkbox
Go to: Setup → Object Manager → Opportunity → Fields & Relationships → Click ‘New’.
Choose Data Type Checkbox → type the Field Label: Auto Renew → Default Unchecked:
Select the profiles to which you want to give access to this field (indicate what access each profile will have for that field: Visible, Read-Only or no access) → click Next.
Final step is, choose the Page Layouts, the field should appear on, then click save.
Step 2: Create the Process Builder
Go to: Set up → use the quick find box to search for Process Builder. Create a new Process Builder.
Put all the necessary details (Process Name, API name, Description (Optional)) and choose The Process starts when, A record changes.
Step 3: Add the Entry Criteria
The next step is to add entry criteria.
- Click on ‘Add Object’
- Select Opportunity object
- Entry criteria, select only when a record is created or edited
The next step is add process criteria for Opportunity Close Won and Auto Renew.
- Click on ‘Add Criteria’
- Criteria for Executing Actions is when Conditions are met.
Set Conditions, by clicking into the ‘field’ box to launch the list of fields. In this case, I have set:
- [Opportunity].StageName Equals Picklist Close Won
- [Opportunity].Auto_Renew_c Is Null Boolean True
Follow the images below as a guide.
- Under the advanced section you will see: “Do you want to execute the actions only when specified changes are made to the record?” Check YesFollow the image below as a guide.
Step 4: Add the Actions
The next step is to add an Immediate action.
Click on Add Action (underneath ‘Immediate actions’). Select the type of action to create, in our case choose Create a Record.
Follow the image below as a guide.
Set the action Name as: Create Renewal Opportunity. Once you click Record Type, find Opportunity.
Follow the image below as a guide.
Once you find Opportunity, the below screen will appear. Here I set some field values to automatically populate information on the new renewal opportunity record, saving everyone time!
By clicking into the ‘field’ box to launch the list of fields. In this case I have set;
- Close Date → Formula → [Opportunity].CloseDate + 365. Click the Use this Formula button.
- Name → Formula → [Opportunity].Name & “- Renewal Opp”. Click the Use this Formula button.
- Stage → Picklist → Prospecting
Important! The last row I will add is for Account ID. This means that when we create a renewal opportunity, the Opportunity will match with the correct Account automatically.
- Click + Add Row → from Find a field, search for Account ID → Field Reference [Opportunity].AccountID.
You can see this in the screenshots below.
Step 5: Activate the Process!
Final step is to activate the process using the Activate button.
Step 6: Test the Results
The final step is to check this functionality out! To do so, let’s create an opportunity and click Auto Renewal. Did the process fire, or not?
Here, I have created an Opportunity, name is Miraforce Article Test again. Check the Auto Renew checkbox and set it as stage ‘Closed Won’.
You can see in below screenshot, the new renewal opportunity was created, name is Miraforce Article Test again – Renewal Opp, the Account name is correct, and the close date is one year from now.
Recurring business with existing customers is a key source of revenue for organizations, but managing renewal opportunities at scale can prove time-consuming.
In this article, I explained how to easily automate renewal opportunities via Process builder, so that sales reps can save lots of time!
Look out for more Process Builder tutorials coming in my series!