Summary: A Sales Rep does NOT need to submit a new buyout quote request for old deals. The billing team will pull new values for expired quotes and update the revenue accordingly. This feeds the Rep's commission statement in PREO.
Details:
Sometimes a deal is submitted and cannot deliver/invoice within the buyout quote expiration date. This typically results in a buyout value that is less than the original and increasing the achieved revenue on the deal.
During the invoicing process, the Billing team reviews the current buyout quotes. If the expiration date is in the future, the team proceeds with the values originally received. If the expiration date has passed, the team will pull updated buyout quotes and update the revenue on the deal accordingly.
PREO pays commission based on the invoice data. Since the team is adjusting these values on this invoice data, the sales rep will receive this additional revenue/commission automatically. We recommend to review your commission statement and report any possible issues on the commission statement once the deal is paid out.
Special Note:
In some cases, a Sales Rep may want a new buyout quote PRIOR to the quote expiring. (for example: Customer promises to pay one more lease payment in the next week but the current buyout quote does not reflect this payment.) For this special scenario, the rep must request a new buyout quote once the payment has been confirmed. The billing team would have no reason to pull an updated quote since it has not expired.