Renewal Flow Templates are the out-of-the-box solution for creating Renewal Opportunities and Quotes/Orders in Revenue Cloud. Salesforce provides prebuilt flow templates specifically designed to automate the renewal process without requiring custom development.

According to Salesforce Help documentation on Flow Templates for Renewal Automation, Revenue Cloud includes the "Create and Update Renewal Opportunities" flow template. This template automatically creates renewal opportunities for forecasting purposes when assets are created, and keeps them synchronized when customers amend or cancel subscriptions. The flow template is triggered by platform events and uses standard Revenue Cloud invocable actions.

The renewal flow templates utilize the InitiateRenewal invocable action, which is a standard out-of-the-box Apex action provided by Salesforce. This action can create either renewal quotes or renewal orders based on specified parameters, and it properly links these transactions to renewal opportunities for accurate forecasting. The flow templates handle the complexity of tracking asset end dates, calculating renewal amounts, and maintaining synchronization between assets and renewal opportunities.

Option A (Revenue Cloud Subscription Settings) is a configuration area but does not directly create renewal opportunities or quotes. Option C (Managed Apex classes) would require custom development and is not the out-of-the-box approach. The Renewal Flow Templates provide a declarative, point-and-click solution that administrators can activate and customize using Flow Builder, making them the correct out-of-the-box tool for automating renewal opportunity and quote creation in Revenue Cloud.