Microsoft Dynamics 365 Contract Management

Using pre-defined templates in Contract management for Microsoft Dynamics 365, creating and drafting contracts is very easy and simple task. Users can maintain multiple contract templates and use these to draft new contracts by updating values applicable to the new engagement to reflect vendor and customer contracts

 Managing contracts manually is arduous and creates risk to your business. Contract management in Microsoft Dynamics 365 helps mitigate risks and improve compliance by aggregating and organizing contract data in one place. Manage to-do lists, tasks and activities using the activity management function which allows organization to create relevant activities from the contract and assign responsible employee for the task, monitor the progress of the task, create calendar invites and reminders. Employees can update the task by providing the details of the progress in percentage for tracking and can also provide comments and attach documents for reference 

Configure automatic invoice generation based on different pre-defined frequencies – e.g., weekly, monthly, quarterly, etc. Contract management for Microsoft Dynamics 365 allows organizations to provide flexibility around invoicing terms based on the start of engagement, which could vary depending on the type of service/ product stated in the contract. Invoice generation can be maintained at contract header or defined for each contract line. For subscriptions like fixed monthly charges, automated invoice generation creates invoice transactions without requiring review and approval to make sure invoices are ready to process during payment runs.  

 Configure contract email reminders to be sent out to the contract administrator, owner, or external parties as part of the renewal process. Implement standard processes for contract renewals by setting up contract reminders that notify users and external parties based on the number of days, weeks, or months before a contract expires. Maintain on time follow ups and communication with all parties engaged in the contract via automated email notifications. Format email templates that would provide a personalized touch per contract. 

 Include periodic price adjustment in contract negotiations to help get better terms. Define price adjustments based on percentage and duration – e.g. 1% increase in unit price after 2 years. Contract management for Microsoft Dynamics 365 provides control and flexibility on how price adjustments can be managed. Indexation can be automatically applied or set up to require review and approval before it’s applied.  

Manage key contacts and their contact information details in the contract repository. Documents related to contract are attached on the contract record centrally using the document management feature. Authorized users can search, view, or download the document from the contract record. 

Contract management for Microsoft Dynamics 365 provides contract analytics, reporting and dashboards which provides organization visibility into contract risks like renewals and expiration dates, opportunities to increase contract effectiveness and process efficiency and summarized data in reports to make strategic decisions. Contract monitoring reports based on key contract dates, financials, and data fields. Configure contract data fields to support data analysis and reporting requirements.