When you add your contracts to Trackado you can maintain your master data using contract properties in different sections. In addition you can upload or link underlying contracts documents, for example as PDF or Word documents.
Contract Title: Use a contract title that is easily recognizable and can function as a good search term to find your contract object.
Status: The contract status can be used to reflect the lifecycle stage of your contracts. “Active” is the default stage for contracts that are in execution. In addition, there are several statuses available to reflect contracts that are not yet in execution or already terminated.
Business Partner: The business partner is the delivering or receiving party of a contract. Hence, a supplier or a customer.
Business partners are stored in separate repository and can be maintained there. In addition, you can add and maintain business partner directly while working with a contract.
Contract Number: The contract number field is used for a contract number or other identifier.
Category: You can use categories to cluster contracts for reporting purposes. They are customizable (read more about this here) and you can also add or change individual categories while working with a contract.
Master Contract: Contracts can be associated to each other to e.g. reflect master and sub-agreement relationships or also different versions of a contract. Read more about how to work with master contract here.
Description / Comments: A free text field to describe your contract in more detail.
Fixed period with renewal
Used for contracts that run until a certain date or for a certain period of time. If no notice to cancel the contract is given it will automatically be prolonged by a certain period of time.
Fixed period without renewal
Used for contracts that run until a certain date or for a certain period of time without automated renewal.
Used for contracts that do not have a pre-specified end.
The lifecycle fields
Start Date: The start date of the contract.
End Date: The end date of the contract.
Duration: Instead of specifying the end date you can also enter the contract duration and the end date will be calculated.
Notice Term: Specifies when notice for the cancellation of the contract needs to be given.
Prolongation Period: The term the contract is prolonged in case no notice is given.
Please remind the contract owner: By activating this checkbox the associated event will be configured with a reminder as specified. Clicking on "More options" will provide you with even more configuration possibilities. You can read more about events and reminders here.
End-of-Term Behavior: You can define if any action should be taken once the contract reaches its end date.
No action: No action will be taken.
Change status to "Expired": The contract status will automatically be changed to "Expired".
Prolong automatically: The contract end date will be updated according to the values defined in the field "Prolongation Period".
The financial aspects of the contracts can be registered in the billing transaction section. You can read more about working with billing transaction in this article.
Organization and Contact Persons
Business Unit: Business units represent different entities within your organization, e.g. divisions, legal entities, etc. They can be used to control and restrict user access to contracts within your subscription. You can read more about business units here.
Organizational Unit: Organizational units can be used to specify the organizational context even further. They could for example be used for certain departments, groups, or teams. They are customizable (read more about this here) and you can also add or change individual categories while working with a contract.
Contract Owner: The contract owner is the user that is responsible for the contract object.
Additional Contact Person: This free text field can be used to document additional persons related to a contract.
In the custom property section of the contract you can add Custom Fields to maintain data relevant for your specific use case and requirements. You can read more about custom fields here.
In this section you can add all documents that are related to a contract. This can be done in two different ways:
Document Upload: You can upload documents to Trackado. All major file formats are supported. We will encrypt uploaded documents before saving them (read more about security here).
Link to a document: You can link to documents that are stored on other services, as for example Dropbox, SharePoint or OneDrive. In doing so the document will not be uploaded to Trackado and the authorization and access restrictions from the source service will stay in place. The service and document location will have to support HTTPS in order to use links to documents.