Saas contracts include multi-year contracts. With multi-year contracts, the amount we pay per year often varies. Sometimes we get a very good discount for the first year or maybe the first year includes set-up fees. However, it becomes difficult to track the contracts with these additional values and often don't get added up in the contract value leading to inaccurate costs.
To support customers manage contracts, we introduced split contract value toggle feature to break down the costs and track contracts better.
Admins can access this feature, either by:
Adding a new contract
Editting an existing contract
Under the contract value section, click the toggle on the "Split contract value" to enter the contract value for each year accordingly. The default period is set to one year but can also create a custom time period, e.g., one month, six months, etc.
This feature will improve data accuracy for contract values and streamline the contract management process.