Contract Manager In Use

Valuemation contract administration covers the life cycle of a contract from its creation to final acquisition of the contracted goods.

The standard process - from contract to component

The standard way of working with contracts proceeds from contract creation via contract processing (managing individual contract items, dealing with payments) to final acquisition of the contracted goods in two steps - creation of products and subsequent creation of components.

• Products represent already obtained goods which have not yet entered CMDB as physical systems and components assigned to users and locations, or a stock system. Products are created by the incoming goods - administrative action. As products play a crucial role in the goods acquisition process, they are administered mainly by Valuemation Procurement Manager.

• Components represent actual items of the infrastructure registered in CMDB. Components are created by the incoming goods - technical action. After this they are administered by Valuemation Asset Manager.

Managing the current inventory

You are not limited to the standard approach of creating products and components on the basis of contract items. Using the assignment actions, contract items can be linked with already existing products and components. It is also possible to terminate a contract item covering a piece of infrastructure and replace it with another, subsequent contract item. Supplementary contract items can be assigned to a single piece of infrastructure in order to cover different aspects of the infrastructure ownership separately.

Payment administration

Payment administration in Contract Manager relies on payment schedules and payments used also in other Valuemation managers (Procurement, Planning&Calculation). Payment schedules represent incurred costs scheduled over an arranged period of time. Payments are the actual financial transactions made on the basis of a payment schedule. Contract items are linked to payment schedules and the 'Upload payments' action is then used to generate a set of payments due at regular intervals. If a change of payment conditions occurs, the payment schedule can be modified and a new set of payments generated.

Note: Some contract-related actions require the assignment of Valuemation user to a person and a person to an organizational unit. See topic 'Required Assignments' for more information.