01 Sep 2022
Changing in-force contracts and still getting correct invoices?
Our latest feature takes contract management for professional services to yet another level!
Your business is constantly evolving, so do the deliverables you need from your professional service providers. This may require adaptations to your ongoing contracts with consultants, IT-developers, lawyers, contractors, business process outsourcers, etc.
Our latest “change contract” feature allows you to change rates (over time), add new products and services into the deal and modify many other terms like contract duration, budgets or risk sharing agreements. Versioning provides perfect change control over the entire contract lifecycle, but more importantly all charges, reports and projections seamlessly adjust to the new reality. Overcharges or undercharges from prior invoices due to retroactively agreed changes get corrected automatically with the next invoice.
This is just another example how trueLedger’s smart contracting engine is uniquely designed to make everybody’s live easier in a world where change is the norm, not the exception. Move your professional service engagements to smart contracting to effectively manage your supplier relationships in volatile economic times. So, you can focus all your energy on getting good results – not on budget management, cost control and contract governance.