Contract Management is built into all xAssets Applications and can be extended or adapted as needed to each customers exact requirements, processes and workflows.
The default configurations include contract management functions shaped to the typical needs of users of those modules.
Contracts are, in effect, assets in their own right, and should be stored, classified and audited as such. Each contract has a series of time based valuations,
is renewable, and can store associated documentation electronically. Assets depending on a contract are stored using inter-asset relationships.
Contracts can be imported or federated from other systems and the full lifecycle from proposal through acquisition to end of life and renewal can be managed.
Contract and SLAs may be coded into sub tables and connected to data from external monitoring and availability toolsets. Management reports can then
be added to create a complete view of compliance contract. This applies to contracts a customer may purchase for internal network performance and to
contracts sold to customers where the customer can provide availability and performance data.
Explicit multi-currency leasing support is built into xAssets Products. This allows the entry and reporting
of lease payments, disposals and capital charging.
The transactional financial model and comprehensive depreciation
features allow for asset lease accounting and amortization
to be performed.
The lease accounting module is relatively simple. An asset is assigned to a lease and each lease has a
start date, end date, start payment, mid payments and final payments. Lease amortization is calculated
by the depreciation calculation engine and so can follow any formula and/or lookup table.
This gives powerful leasing support without a complex user interface.
Contract Management functionality is available in all xAssets solutions.
To learn more about the functions and features available to
IT Asset Management, Cloud Asset Management, Fixed Asset Management and Enterprise Asset Management customers, Click Here