Business rules installed with Contract Management

Release version: Washingtondc

Updated February 1, 2024

2 minutes to read

Summarize

Summarized using AI

Summary of Business rules installed with Contract Management

The Contract Management module in IT Asset Management includes various business rules designed to automate and streamline contract-related processes. These rules help manage contract costs, lifecycle events, and compliance effectively, ensuring that your organization maintains accurate records and adheres to contractual obligations.

Show full answer Show less

Key Features

Calculate projected costs: Estimates monthly and annual costs based on changes in payment schedules.
Calculate totals with tax: Computes tax and total costs during contract creation or updates.
Contract history: Maintains a record of changes to contract terms and conditions.
Create approval record: Initiates workflow for contract approvals upon submission for review.
Flag terms and conditions: Updates the Use flag status when terms are associated or disassociated with contracts.
Activate count for manual licenses: Tracks the number of installations of software licenses upon creation or deletion.
Manage contract lifecycle: Updates and renews contracts based on approved extensions and evaluations of dates.
Post outage to news: Publishes outage notifications on the knowledge table.
Update contract cost per asset: Adjusts unit costs based on total contract expenses and asset count.
Update contract lifetime cost: Calculates and updates the total lifetime cost of contracts.
Update after contract dates change: Reflects date changes for associated assets and users when contract dates are modified.
Verify contract’s start and end dates: Ensures validity of contract timelines.
Verify purchase agreement discount price: Validates discount ranges for purchase agreements.

Key Outcomes

By implementing these business rules, ServiceNow customers can expect improved accuracy in financial projections, enhanced workflow efficiency for contract approvals, and better management of contract lifecycles. This leads to stronger compliance and oversight of contract-related activities, ultimately contributing to more effective asset management and procurement processes.

Business rules are added with Contract Management.


Name	Table	Description
Calculate projected costs (Reports)	Contract [ast_contract]	Calculates the projected monthly and annual costs for a contract when costs or payment schedule changes.
Calculate totals with tax	Contract [ast_contract]	Calculates the Tax cost and Total cost fields for a contract when the contract is created or updated.
Contract history	Contract [ast_contract]	Stores history when the start, end, or terms and conditions of a contract change.
Create approval record	Contract [ast_contract]	Updates contract Terms and Conditions and starts the contract approval workflow when a contract is sent for review.
Flag terms and conditions	Terms and Conditions [clm_m2m_contract_and_terms]	Sets the Use flag on a Terms and Conditions record to true after the record is associated with a contract or to false after the record is disassociated from a contract.
Activate count for manual licenses	Software License Instance [ast_license_software_instance]	Calculates and updates the number of computers a particular license is installed on when a software license instance is created or deleted.
Manage contract lifecycle	Contract [ast_contract]	This business rule: Updates the end date of a contract when a contract extension has been approved. Renews the contract, updating its start date, end date, and base cost (if cost adjustments must be applied) when a contract renewal has been approved and the renewal has reached its start date. Runs the condition checks to evaluate if dates need to be changed when a contract is approved, or an extension or renewal is approved, or the start or end dates have changed.
Post outage to news	Service [cmdb_ci_service]	Posts a news article on the knowledge table when there is an outage.
Update contract cost per asset	Asset Covered [clm_m2m_contract_asset]	Updates the cost per unit value based on the total cost and number of assets associated to the contract.
Update contract lifetime cost	Contract Rate Card [fm_contract_rate_card	Calculates the lifetime cost of the contract by calculating the sum of the contract expense lines.
Updates after contract dates change	Contract [ast_contract]	Updates the Date added and Date removed fields for all assets and users associated with a contract if the contract end date changes.
Updates after rate card dates change	Contract Rate Card [fm_contract_rate_card]	Updates the related contract assets and users linked to the rate card when the end date is changed.
Verify contract’s start and end dates	Contract [ast_contract]	Validates contract start and end dates and contract renewal start and end dates.
Verify purchase agreement discount price	Contract [ast_contract]	For contracts with the contract model Purchase Agreement, the business rule validates that the Discount field does not contain a value less than zero or greater than 99.