The most important asset that companies forget to maintain!

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In the day of internet, the website/domain name is the most critical asset companies have. Here is how you can save face-palm moments that happen if you forget to renew them in time.

When a famed company with billions of dollars in market cap forgets to do a simple thing like renewing its website domain name, it leaves everyone in the company red-faced especially the customer support department. It wasn’t the first time a company had forgotten to renew its website address or domain name to which its customer come to. In 2013, many a prospective traveler went to India’s travel booking site Yatra and found that the website redirected to a parking page of the domain registrar. In this day of Software as a Service where every relationship with the company transpires on the company’s website, non-renewal of domain name is a huge loss for the company. Not only does it stall your customers from accessing the services they signed up for, it also leaves an impression in your customers’ mind about your inability to handle most trivial aspect of running a business.

WHY do companies often forget to do such a trivial thing as renewing the domain name?

As a founder myself, I might have a clue to why companies miss such a task. Founders decide the names of their companies over a mug of beer (or coffee in our case). A lot of names get tossed around. The one’s that stick in their minds then get checked for availability. When the domain registrar’s search flags a name as available, land grab ensues and you tend to create an account at the domain registrar in a hurry and grab the domain before someone else does.

The renewal of domain name goes on for some time as its likely that the founders have given one of their own email id where they receive the registrar’s notification for domain expiry’s. Soon the organization grows big and somewhere the trivial thing of transferring the domain ownership from the founder to a common company email account (or team) happens. Over a period of time, such common mailboxes becomes nobody’s responsibility and so does the domain expiry reminders. That’s when these face palm moments happen.

HOW could your company avoid such an embarrassment?

At Whenda, we empathize with the pain that companies go through in such moments when domain name renewal is forgotten. As an asset management company, we treat domain names held by companies as their soft asset. In fact domain names and websites are given a treatment of intangible assets and can be accounted for in the company’s financial statements under assets and liabilities. The moment you create a company account on Whenda we automatically check for your company’s domain name, it’s expiry and add it as the first asset in your account. No sweat there! And we also keep sending (pesky :-)) reminders to you and your company’s IT administrator until the domain is renewed.

Do you have multiple domain names? No problem! Whenda allows you to add as many domains as you want to keep track of them besides any soft and hard or fixed assets your company holds. Howwzzat for usefulness!

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