The Contract management feature provides a mechanism to track financial agreements and change orders. The agreement amounts can be broken into buckets and allocated to projects and subprojects. Agreements can be entered while being negotiated and tracked through customer sign off. Once the agreements are approved, the contract amounts will be transferred to Fee management and Billing rules as the current Contract value. Document handling can be used to attach the electronic documents related to the contractual agreement. Amounts can be broken down into up to 10 user definable buckets.
Contract management also helps with Backlog reporting, as the Forecasted amounts are tracked, and contracts are executed on a specific date. Also, the Contract management form has classification fields that allow a breakdown of Backlog reporting columns. Since Contracts can also include pending agreements, future predicted backlog can be layered into the reports.
Contract management information can also be exposed to reports including Power BI through the reporting groups. These reporting groups connects the contract buckets with the projects group thus enabling us to create and explain the data in reports.
