The Freshservice Contract Management module lets you manage contracts established with third party vendors.
Here’s how the Contract Management module works:
Adding New Contracts
Freshservice supports three contract types: Lease, Maintenance and Software License.
Here’s how you create a new contract :
Click on the Assets tab from the left sidebar and click on Contracts.
Click on Add new.
Enter the details for the contract into the form. The fields of the form vary according to the type of contract.
Attach any relevant file like the terms and conditions and add associated CIs. The contract will be displayed in the CIs’ detailed view.
If you’d like Freshservice to send you (or other stakeholders) a notification before the contract expires, select the checkbox next to Notify contract expiry. Then select the number of days and enter the email addresses. Note that you can add email addresses of third-party vendors too.
In the lifecycle of a contract, it goes through a lot of changes in its status.
- The status of the contract will remain as Draft until it is sent for approval. As long as it is a draft, the contract can be modified.
- Once the contract is approved or rejected by the approver, the status changes to Approved or Rejected accordingly.
- However, even after it is approved, the status of a contract becomes Active only when the current date is the same as the contract start date. The Contract Scheduler checks the ‘start day’ for all approved contracts on a daily basis and when it is the same as the current date, it sets the contract as active.
- A contract stays Active from its start date to end date, after which the status is automatically changed to Expired.
- If you need to replace a contract with a newer one, you can Terminate it from its detailed view.
You can track your contracts by filtering them according to their status.
Click on the Assets tab and click on Contracts. All Active Contracts are displayed by default.
You can click on the drop down arrow to view contracts which are Expired or a list of All Contracts.
After you locate the contract you need from the list, click on it to go to the detailed view. You can access all available information about the contract here.