There are two types of expiries in the Layer - service asset expiry and non-managed expiry.
Non-managed expiry date
The expiry date for an asset that a customer or lead possesses that is not managed by your company. These can be viewed as an opportunity for sales.
Service asset expiry date
The expiry date for an asset that a customer or lead possesses that is managed by your company. These will form the basis of renewals.
The desired outcome of either expiry date is that they both result in a won quotation that becomes a managed service asset via your organisation:
Managing renewals vs. potential expiring opportunities (non-managed expiries)
Below we have outlined a scenario where a customer has both potential and existing service assets:
Adding a non-managed expiry to a customer or lead
For information on how to keep track of non-managed expiries, check this article.