SAM - Contract Questions regarding tracking Cost and Vendor Relationship information

jmgt
Tera Contributor

Hello,

 


I'm looking to understand my options, or, if there is a best way to track cost on a multi-year contract agreement that changes each year of the agreement. For example, it is a 3 year agreement where year 1 cost is $5,000, year 2 is $6,000 and year 3 is $7,000. I understand this could be split out on the software entitlement table so that each year has its own SE, but, is there any way to do this split-out within the Contracts table (besides just manually entering this information in the description field)? Thank you!


A second question, somewhat related - where is the recommended place to enter/store vendor relationship history information? This could contain vendor contact information, and, any historical details between relationship with vendor. Can this be put within the Contracts table or is there a better table for this? (again, understand this could be put in Description field, but, anything else available?)

 

Thanks

1 ACCEPTED SOLUTION

dreinhardt
Tera Sage

Hi @jmgt,

 


I'm looking to understand my options, or, if there is a best way to track cost on a multi-year contract agreement that changes each year of the agreement. For example, it is a 3 year agreement where year 1 cost is $5,000, year 2 is $6,000 and year 3 is $7,000. I understand this could be split out on the software entitlement table so that each year has its own SE, but, is there any way to do this split-out within the Contracts table (besides just manually entering this information in the description field)? Thank you!
  • If it's just for tracking the costs, I would suggest to use the "Expense lines" per contract to track every year

dreinhardt_0-1727722761190.png

  • If the costs are relevant for your daily SAM business you've to create a single entitlement per year, as already mentioned by yourself

 


A second question, somewhat related - where is the recommended place to enter/store vendor relationship history information? This could contain vendor contact information, and, any historical details between relationship with vendor. Can this be put within the Contracts table or is there a better table for this? (again, understand this could be put in Description field, but, anything else available?)
  • For a professional vendor management, I would recommend the "Third-Party-Risk-Management" module by ServiceNow (TPRM) - Third-Party Risk Management – ServiceNow.
  • You could also use the Vendor object (Table [core_company]) to add/track all relevant details about the relationship. It's recommend to create a new core company object with the vendor flag instead of updating the existing ones (imported by Discovery and other Inventory sources)
    dreinhardt_1-1727723042229.png

Best, Dennis

 

Should my response prove helpful, please consider marking it as the Accepted Solution/Helpful to assist closing this thread.

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1 REPLY 1

dreinhardt
Tera Sage

Hi @jmgt,

 


I'm looking to understand my options, or, if there is a best way to track cost on a multi-year contract agreement that changes each year of the agreement. For example, it is a 3 year agreement where year 1 cost is $5,000, year 2 is $6,000 and year 3 is $7,000. I understand this could be split out on the software entitlement table so that each year has its own SE, but, is there any way to do this split-out within the Contracts table (besides just manually entering this information in the description field)? Thank you!
  • If it's just for tracking the costs, I would suggest to use the "Expense lines" per contract to track every year

dreinhardt_0-1727722761190.png

  • If the costs are relevant for your daily SAM business you've to create a single entitlement per year, as already mentioned by yourself

 


A second question, somewhat related - where is the recommended place to enter/store vendor relationship history information? This could contain vendor contact information, and, any historical details between relationship with vendor. Can this be put within the Contracts table or is there a better table for this? (again, understand this could be put in Description field, but, anything else available?)
  • For a professional vendor management, I would recommend the "Third-Party-Risk-Management" module by ServiceNow (TPRM) - Third-Party Risk Management – ServiceNow.
  • You could also use the Vendor object (Table [core_company]) to add/track all relevant details about the relationship. It's recommend to create a new core company object with the vendor flag instead of updating the existing ones (imported by Discovery and other Inventory sources)
    dreinhardt_1-1727723042229.png

Best, Dennis

 

Should my response prove helpful, please consider marking it as the Accepted Solution/Helpful to assist closing this thread.