How to Cancel Business Planner
To cancel a Business Planner product, you need to follow a structured process to ensure all necessary steps are taken and the cancellation is properly reflected in your system. Here’s a step-by-step guide:
Cancelling a Business Planner Product
Step 1: Access the Opportunity
Go to the Opportunity section where the Business Planner product is listed. This is typically found in your CRM or sales management system.
Step 2: Select the Product
On the related list, select the Opportunity Product that you wish to cancel. Note that you may only be cancelling a subset of the products associated with the opportunity.
Step 3: Update the Schedule Details
In the Schedule Details Section of the selected Opportunity Product, populate the Cancellation Date field with the date when the cancellation is effective.
Step 4: Save the Changes
Click the Save button to apply the changes.
Automatic Adjustments
After saving, the following adjustments will be made automatically to the Product Schedules associated with that Opportunity Product:
- Product Schedules with dates earlier than the cancellation date will remain unchanged.
- Product Schedules with dates after the cancellation date will be set to $0.
- The Cancelled Value field will populate with the prior value of the cancelled schedules, indicating the revenue lost due to the cancellation.
Refund Policy Considerations
If a refund is applicable, refer to the specific refund policy of the business. Here are some general considerations:
- For physical products, a return policy may allow for refunds within a certain timeframe (e.g., 14 days) with deductions for shipping costs.
- For digital products, refunds are often not available due to the nature of the product being immediately downloadable and used.
- Pre-released or bundled products may have specific refund rules, such as full refunds within a limited timeframe or refunds with a fee after a certain period.
Communication with Customers
Ensure that customers are informed about the cancellation and any associated refund or adjustment. This can be done through automated emails or direct communication, depending on your system’s capabilities.
Data Collection and Analysis
Consider implementing a cancellation flow that includes an exit survey to gather feedback on why the customer is cancelling. This data can be used to improve customer retention and product offerings in the future.
