This function is leveraged to set up a system of supplier evaluation and rating to facilitate managing risks related to performance by supplier of their contractual obligations, and maximize the benefits obtained by the entity through monitoring supplier performance against the established efficiency criteria.

Contract creation using pre-configured templates. Processing of contracts imported from external systems. Support of supplementary agreements to contracts. Contract management with future period expense amortization. Setup and generation of contractual notices. Creation of report and document printed forms.

This tool in the Contract Management module supports the full cycle of financial lease contract management, while the leased object per se is accounted for in the Fixed Assets module during the complete contract validity period at its present discounted value. The system supports flexible contract schedule construction with regard for stipulated parameters including a discount rate, the lease payment rate, the contract validity period. In the event of a change in contract terms and conditions the system will support automatic contract schedule recalculation and updating of the fixed asset accounting balance sheet value.

Automatic generation of payment and delivery documents as per the contract schedule. Provision calculation. Penalty accrual. Contract management leveraging the accrual method. Tracking timely performance of contractual obligations.

This tool spans the complete business process management for the disposal of assets pledged as collateral for outstanding loan obligations, as well as of other company assets. In managing this type of contract, the system takes into account all schedule construction parameters, such as accounting for interest, discount and yield rates, advance payment, monthly payment amount, contract validity period.