When it comes to basic contract management, this is often completed outside of an organisation’s ERP system and with a high reliance on external databases with limited reporting capabilities. Storing documentation and responses around contract management and renewals therefore becomes extremely manual, and giving all stakeholders within an organisation visibility of every interaction is almost impossible.
In addition to this, billing contracts is often a fully separate and segmented process – meaning duplicate entry of information across different functions of an organisation simply to get an
invoice billed to a customer.
Furthermore, there is also the financial treatment of documents to consider. Different billing profiles will require differing finance treatment including the deferring of revenues in any future billing period. This again, in many organisations, is either a very costly process with add-on modules, or is a manual step either within the ERP system itself or via complex spreadsheets managed via financial accountants.
This is why we created our Recurring Contract & Billing Management App for Dynamics 365 Business Central. It is a fully integrated solution which ensures that all of your organisation’s contract related information is contained in one place.
One source of data entry from initial entry of contract all the way through to the invoice being created.