Welcome to the Contract Management feature, designed to simplify your financial agreement tracking and change order management.
With this feature, you can easily monitor agreement amounts and allocate them to projects and subprojects using customizable buckets. Agreements can be entered during negotiations and tracked until customer sign-off. Once approved, the contract amounts are transferred to Fee management and Billing rules as the current Contract value. You can also attach electronic documents related to the contractual agreement using the Document handling function.
This tool allows you to break down amounts into up to 10 user-definable buckets, making it easy to manage your finances and keep track of project progress. In addition, Contract Management helps with backlog reporting by tracking forecasted amounts and executing contracts on a specific date. The Contract Management form also has classification fields that allow for a breakdown of Backlog reporting columns.
Pending agreements can also be included in contracts, making it possible to layer future predicted backlog into your reports. This feature helps you stay ahead of the curve and make informed decisions about your financial agreements.
Lastly, Contract Management information can be easily exposed to reports including Power BI through the reporting groups. These reporting groups connect contract buckets with project groups, enabling you to create and explain data in your reports. This makes it easy to share important information with team members and stakeholders.
