How to prep for a contract renewal in under an hour

Here is what I know after 30 years in IT

I have lived this problem. Not read about it. Not consulted on it. Lived it — managing techs, chasing customers, staring at reports that told me nothing useful while the real answers were buried somewhere I could not easily get to.

Labor Consumed

When you sit down for a contract renewal, you need to know how much labor was consumed. If you’re digging through spreadsheets or waiting on reports, you’re already behind. Look at the hours logged by techs. Are there late notes or backdated entries? This isn’t just about time; it’s about trust and accuracy. If a tech consistently logs time late, it’s a coaching problem. It may be affecting your margins without you even noticing.

Ticket Volume and Response Times

Ticket volume and response times should be right in front of you. If a customer has a high volume of tickets, it could be a pricing problem or a staffing issue on their end. Don’t let it surprise you in the meeting. Response times tell you if your team is stretched too thin. If tickets are sitting too long, it may be time to adjust staffing or re-evaluate SLAs. PSAs don’t always make this clear without some digging.

Payment History and Profitability

Payment history is non-negotiable. You should know if a customer is consistently late or has a history of partial payments. This affects cash flow and your ability to plan. Profitability is the bottom line. If a contract isn’t profitable, you need to make the call. Unbilled time on a flat contract is a silent killer. PSAs do not always highlight this unless you dig deep. Protect your revenue by knowing these numbers cold before you walk into that room.