Schedule audits and transactions, collaborate with tasks and documents, track and manage time sheets, and keep your workflow moving and organized with LeaseNet and ContractNet Projects. Project and workflow management, including user configurable templates, roles, and teams, is included with Enterprise subscriptions and installations of LeaseNet and ContractNet beginning in 2017.
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LeaseNet now has integrated FASB 842 compliant calculations for Type B – Operating Leases, and can produce your Right Of Use, Liability, and other schedules under the new lease accounting rules. You can try the calculator at the new ContractNet.IO website. The free calculator allows anyone to produce and download the schedules for one lease at a time. Integrated with LeaseNet, the module gives companies the ability to:
- Synchronize your recurring and non-recurring payment data and lease options with the module
- Model the balance sheet impact of the new rules across your portfolio
- Manage renewal and cancellation attestations
- Layer amendments and restatements of capital schedules for full audit capability
- Set specific account codes for capitalization and considerations such as capital deductions, impairments, and direct costs
- Report across your financial data and explore scenarios for transition
Businesses that manage multiple accounts depend upon contractual agreements with customers and other businesses. There is a certain amount of legalese required to ensure the mutual safety and protection of each party which is entering into the agreements. Some of the more complex contracts may be more difficult to manage because of the language which is used when drafting them. These are the documents which can eat up time and resources when sifting through them to determine what type of action is required to fulfill commitments in a timely manner. Are your contracts written to make them easy to manage? If you cannot say yes, then your business could definitely benefit from the use of a system which would simplify your contract management processes.
Advantages of Contract Management Software Solutions
Web-based contract management software provides the administration tools to store all of a company’s leases, deed, permits, licenses and contract data in one easy to access location. This can help to put an end to missing deadlines and incurring late charges. Regardless of the difficulty of the contract language, key requirements can be noted and flagged for a notification and alert system response which lets the person in charge know in advance of fulfillment requirements for your business. This allows you to take action in a timely manner, eliminating the need for searching through documents and reading the fine print to make sure that you are in compliance with your agreements.
Streamline Business Operations Through Use of Customized Administrator Tools
Multiple contract accounts are easily accessible through the use of a user-friendly dashboard which provides a range of useful options. When these are tailored to meet the everyday needs of your company, the time it takes for staff to access needed information is reduced dramatically. This is one of the best solutions for businesses faced with the need for managing multiple contracts regardless of the complexity levels.
Are your contracts written to make them easy to manage? Do you spend hours of valuable time each month sifting through the language to meet requirements? You can cut down on the time spent on these processes and decrease your company’s margin of error by implementing a highly functional and streamlined system. A system which includes contract management software you customize for the unique needs of your business operations. Datanet have the innovative business solutions which can get your company on the fast track to increased success and proficiency.
Your business depends on keeping your contracts all up to date and organized in an orderly fashion. This is just sound business practice. Some contracts are simple in their design and others are more complicated. Going through each of them separately has to happen initially, but to repeat this process over and over again takes up a lot of time and causes your business run less efficiently. The best solution to streamline your operations is to use contract management software no matter how easy or complex the contracts are written.
Benefits of Using Contract Management Software
This innovative tool allows you to enter all of the information about your contracts into a system capable of organizing all of the information which is found in the contracts so you can pull it up when you need it. Having it all stored in one place makes it faster and easier to access. What this means for your business is there will be less employee time spent poring over each individual contract to figure out what needs to be billed, if there are outstanding balances or if there is a pending work order which needs to be addressed.
Recurring revenue and expense information is available at a finger’s touch. It also makes pulling reports for business planning and forecasting a simple process. It can eliminate the need to go over large amounts of paperwork to find the information you need to work with. Contract management software allows you to have the peace of mind in knowing you are not missing any important details which could affect your relationship with the business or person on the other end of the contract.
Managing Multiple Accounts Simultaneously
Even the most simply written contracts can represent a lot of work. This is particularly true when there are several of them to manage. Entering the data from each contract into a system capable of categorizing the information into recurring tasks can help in the management of billing, collection, accounting, generating follow up tasks, and tracking expiration dates in advance. It’s also great at generating a tickler system in advance of upcoming commitments which are related to each contract account. Contract management software is a solution which will assist your business to operate more smoothly and cut down on the amount of work required to accomplish everyday tasks, with fewer errors and more accuracy. Our no nonsense approach to providing businesses with the best in innovative software solutions can help you to gain the edge in your industry.
Large contract portfolios require fast navigation. You can drill to the contract or group of contracts you need quickly and easily with DataNet’s Portfolio Navigator.Group and sort contracts and create your own listings and even a map view you can access with a single click.
With Portfolio Navigator you can:
- Create, edit, and save custom listing of your contracts
- Group and filter by any data
- Locate your site based agreements on a map, or integrate your sites with your corporate GIS map layers
- Jump directly to contract detail previews, and stored contract documents
- Export listings to Word and Excel
- Perform complex sorting, grouping, and filtering of your listings
Portfolio Navigator supports all of the features you expect from the DataNet platform including:
- User security
- User and Administrator configuration
- Quick views for contract types, divisions, asset types and other key groupings
For complex contract accounting, we’ve brought together tools that contract and lease administrators need to automate multiple payment, billing, and booking scenarios for complex contracts like retail leases and rack space including:
- Index-based variable escalations
- Revenue Sharing between and across agreements
- Straightlining and Capitalization of leased assets
- Overage Rent, Percentage Rent, and Formula-based variable recurring payments
- Currency Support for Multi-National holdings
- New approval process tools
- British Quarter frequencies
- and More…
Subscripton software, content, and service providers now have a tool to manage their client contracts without the frequent hassle of of managing critical dates and renewals, pricing changes and escalations, user count and other billing metric entry, and invoice production.
ContractNet, configured for Subscription providers, allows you to manage your customer contracts quickly and easily.
- Set up recurring invoicing streams for base subscription pricing
- Set up pre-set price escalations
- Enter one-time charges such as customization and support charges
- Invoice directly from ContractNet or export to Quickbooks, SAP, Oracle, Lawson, and other financial systems
- Track receivables and receive by line item, invoice, or lockbox batch
- Enter and allocate credits
- Manage expirations, renewals, terminations and termination penalties
- and more…
At the portfolio level, view and report on your entire customer portfolio by size, location, remaining contract value, termination rights, options, contacts and other criteria. Find contract data and documents with quick searches, alert reps for upcoming expirations and renewal options, autostart customer retention projects and assign them to your teams based on contract critical dates.