Contract Management

What is Contract Management?

Contract management is the process of managing the creation, execution, and administration of contracts between parties, such as businesses, organizations, or individuals. It involves various activities and tasks aimed at ensuring that contracts are effectively negotiated, implemented, and enforced throughout their lifecycle. ZoneBilling is a native NetSuite app built to help finance teams carry out contract management in NetSuite, extending their ERP to provide them with a single record to manage the entire customer lifecycle from initial purchase to upsells, downsells, change orders, renewals, or cancellation.

Related terms

Account Reconciliation

Account reconciliation is the process of comparing two sets of records to ensure their accuracy and consistency.

Accounts Payable

Accounts payable (AP) refers to the amount of money that a business owes to its suppliers or creditors for goods or services purchased on credit.

Accounts Receivable Turnover

The accounts receivable turnover ratio (or debtor turnover ratio) allows businesses to evaluate their debt collection efficiency.

Advanced Revenue Management (ARM)

Advanced Revenue Management (ARM) refers to a set of strategies and practices used by businesses to automate, streamline, and ensure accurate revenue recognition according to accounting standards.

Automated Cash Application

Automated cash application (also known as automated cash posting or automated cash matching) is a process in accounting and financial management that uses technology and algorithms to match incoming payments or cash receipts with corresponding invoices or accounts receivable entries in an organization's financial records.

Average Days Delinquent

Average day(s) delinquent (ADD) is a metric that helps determine the efficiency of a company’s debt collection efforts.