Contracts and recurring cost obligations, next to labor costs, represent the largest part of most IT budgets. These
include License Agreements, Maintenance Agreements, Leases, and other financials.
Contract Management and Expense Management are
Financial Management. Together, they give you the control and reporting you need.
Organize contracts under Master Contracts. Track payments, purchase order numbers, penalties, renewal dates, insurance requirements,
quantities, and of course, costs. Enter contract costs, as a cost per item, for the contract in total, or both.
Like the rest of Samantha's assets, contracts can be linked to their underlying configuration items. The process of linking assets to
contracts uncovers waste. A primary way to save money is to stop paying maintenance fees on lost, stolen or returned devices. Software
can be lost too, leading to the unnecessary expense of buying software licenses, over and over.
Standard reports identify expiring contracts, maintenance on unused assets, and upcoming contract renewals. Contract data
from the prior year easily forms a reasonable baseline as a budget for subsequent years.