Deltek continues to innovate with its latest release of Vision 7.0, allowing firms to gain wider visibility, tighter control, and deeper insight into their business so they can work more efficiently, manage more effectively, and accomplish more. Enhancements in core accounting, security, convenience, and usability deliver quick advantages.
As we lead up to Insight 2012 and the release of Vision 7.0, today we start a multi-post series highlighting some of the new capabilities coming with this new and exciting version. We kick this off the series with one of the most requested new capabilities, Contract Management.
Contract Management makes contract administration more efficient than ever. It brings clarity to the contract negotiating process with transparency to status and responsibilities between sales, finance, project management, and clients. Coordination on customer contracts has always been a challenge. Use the new Contract Management tab in the Project Infocenter to track the creation and management of client contracts and change orders from the initial project scope through the signed agreement. Contract Management facilitates the distribution of contract values to all the levels of the project structure from a single screen, spanning all WBS levels and allowing you to track contract statuses like whether or not a contract has been signed and returned. You can also track contract types like an AIA contract or a change order. Improve your visibility into the changes in contract value over time and increase the accuracy of reporting through period stamps associated with each contract line. Track dates, statuses, amounts, notes, and employee credit for contracts and changes to contracts. Track contracts on projects and track the compensation, consultant fee, and reimbursables to ensure all contract values are consistent and accurate, eliminating the need for double entry. And, if your organization tracks sales quotas by employees, you can also use the contract management feature to credit contract sales to employees.