Overview of the Contract Management (CTM) moduleService contracts are an important part of contract management that detail the obligations between the service supplier and the business partner. Service contracts increase the predictability of the service business with steady revenue streams. The function of the Contract Management module is to provide the user with the facilities to manage a service contract from creation through to deletion. You can use the Contract Management module to do the following:
Service contract quotations You can set up service-contract quotations manually. You can also use service contract templates created in advance. Terms and conditions are linked to the service-contract quotation. Service contract templates The contract template enables the user to set up most of the requirements of a service contract or service-contract quotation in advance. A service contract can be prepared directly with or without the use of service contract templates for a business partner without the necessity of the service-contract quotation stage. Terms and conditions are linked to the service contract. Service orders When a service contract becomes active, the contract interacts with the Service Order Control module to create actual service orders. The service orders ensure that the work is carried out. Interaction also occurs with the Invoicing module in Invoicing. This setup enables you to invoice the business partner for the work performed. Contract History To review the details of a service contract at a later date, you can store them in history before deletion. Service contract details can be stored in history before deletion when the status of the contract is Active, Expired, or Closed.
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