Introduction:
Nowa a days everything runs on contract. In indvidauls life examples are opening a bank account, credit card, taking loan, internet connection etc.. In business when you are purchasing or selling goods, they will have contracts with suppliers/customers.
So what is a contract?
Contract is made from set of clauses that govern a business transaction or set of transactions. Business transaction can be a RFQ,Purchase order, Blanket Purchase Agreement, Sales Order or Sales Agreement or Sales Quote etc.
Clauses are also called articles or terms and conditions.
Coming to Oracle apps contract solution, it has following offers:
1) Oracle Contracts Core
Oracle contracts core forms the technical foundation for other contract modules.
Coming to the functional offering, It offers Library management (Articles, Contract Expert, Templates), Repository contracts. - Mainly drafting part.
Contracts Core library is the foundation for procurement contract and service contracts. (Execution or applying above terms on the document)
We will discuss more in the future posts.
This product is mainly deals with authoring and little of transaction processing. Not a convention ERP product.
2) Oracle Service Contracts
Using this product, you can create Service Agreements, Subscription Agreement and Warranty and Extended warrenty contracts. Very powerful product can be useful across many industries.
3) Oracle Project Contracts
This prodcut mainly used in Aerospace and defenese companies. Integrates with Projects.
Plan and author in Project contracts and do accoutning(costing/revenue) part in Projects.
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