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Setting up a Cotermed Expansion Template

Coterminous expansion are created when new products and services are purchased while an existing agreement is already effective.  ‍ When creating a coterminous expansion agreement, we want to make sure that the contract term ends exactly the same day as our originating contract. If it ends a day early or a date late, the two agreements don't cover an ambiguous gap of service. ‍ RevOps helps create cotermed expansions by allowing you to import dates from your CRM that can be used on your templates. ‍ In this guide, we'll show you how to set this up. ‍ ‍

Import the dates to RevOps

‍ In order to setup a co-termed expansions template on RevOps, the date for when the agreement must end, stored within your CRM.  ‍ To import the data to RevOps, we'll first need to create a CRM Variable in RevOps to store this data. Head to Integration Settings, for the CRM you are using and click on the "Variables". ‍ If you are using Salesforce, select the property on the Opportunity object that stores the contract end date.

‍ If you are using HubSpot, click on "+ Variables", and select the field on either the deal or company object that stores the contract end date. ‍

Setting up the contract term

‍ To use the CRM Variable, we'll head over to our "Upsells/Expansion" template. You may need to create a new template first, if you don't already have one. ‍ On our contract period term, we'll now hover over gear icon next to "End Date" and switch it from Calculated to CRM Variable. ‍ This allows us to set the end date to the CRM Variable we just created. We'll also leave the start date to "Current Day" since we want the expansion agreement to defined by the User. ‍

See it in Action!

‍ When creating the deal is first created, we'll see that the start date will be set to today and the end date is coming from the CRM. Since the Salesforce Opportunity or HubSpot Deal has not yet been selected, RevOps isn't able to set the date yet. ‍ ‍ Once we've associated a deal or opportunity to our RevOps Deal, our end date will now update.

‍ When creating a coterminous expansion, only the start date can be adjusted. Based on the start date selected by the User and the end date imported from the CRM, the contract length will be calculated.