Vendor Relationship Management: Contracts and Agreements
Imagine being able to see all of your contracts nicely organized in your cloud accounting software and available to you wherever you are in the world without having to rifle through a filing cabinet.
Partaking in business transaction in our economy involves regularly dealing with other businesses which usually involves contractual agreements of some type whether that be with a new Vendor or a new Customer. You may currently be filing these contracts in a filing cabinet somewhere or possibly keeping track of them in an Excel spreadsheet, but imagine if instead you could track them within your accounting software. What benefits might there be?
- Integration with vendors means contracts are readily available to view whenever you receive a new AP Bill.
- Easily analyze contracts that are up for renewal. Utilizing dashboards in Intacct, you can quickly see a list of contracts up for renewal and negotiate them ahead of time.
- Monitor any penalties, late fees, interest rates associated with contracts.
These are just a few of the benefits of the Contracts and Agreements portion of the Vendor Relationship Management application. In Intacct, you can create custom applications to fit your business. Today’s post will cover the Contracts and Agreements section of the newly built Vendor Relationship Management Application (just one aspect of the VRM module).
A Brief Introduction:
The Contracts and Agreements section of the VRM module is integrated directly into your company both in its own module as well as on the Vendor record itself.
Viewing Contracts on a Dashboard is efficient and organized:
Adding a new contract is easy as 1,2,3 :
Step 1: Navigate to the Vendor
Step 2: Click the Vendor Management tab
Interested in learning more about Contracts and Agreements or the VRM module contact your CLA Intacct team!
Kathy Jastrzebski is a manager with CLA’s Intacct team. CLA is an Intacct Premier Partner with a partnership that spans over 20 years and more than 1,000 successful implementations. Kathy brings five years of accounting experience along with seven years of Sage Intacct implementation experience. Along with her accounting experience, she has a passion for leveraging technology to lead finance teams worldwide through system implementations with a mission of increasing department efficiency through business process improvements.