Milestones in Klevr Contracts, a Dynamics 365 contract management add-on, provide a way to track critical objectives within a contract. This guide will walk you through the process of configuring contract milestones, ensuring proper approvals, and linking milestones to financial transactions.
Steps for setting up & managing contract milestones in Dynamics 365 using contract management add-on Klevr Contracts
1. Navigate to the milestones tab
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Open the desired contract in Dynamics 365 and navigate to the Milestones tab.
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View existing milestones or create a new one by selecting “New Milestone.” The new milestone will automatically be linked to the current contract.
2. Set up a milestone
- Enter details such as milestone code, description, and external references for easier tracking and integration.
- Specify the milestone type (financial or non-financial) and link it to the related contract and account.
3. Assign a primary contact
- Assign a primary contact responsible for completing the milestone.
- Configure notifications, tasks, and task automation based on the due date or other conditions.
4. Set milestone objectives
- Define multiple objectives that must be met for the milestone to be completed.
- Each objective can have associated questions, file uploads, and additional details to track progress.
5. Link milestones to transactions
- For financial milestones, link contract transaction records to the milestone.
- Funds can be tied to the completion of milestone objectives, ensuring that payments are only released after the milestones are approved.
6. Manage approvals
- Use the Approvals tab to assign approval groups.
- Automatically generate approval tasks for specific users or groups, allowing them to approve or decline milestones.
7. External stakeholder portal
- Use the Portal tab to track milestone progress and submissions made via an external stakeholder portal.
- External users can view milestones, upload relevant information, and submit milestones for approval directly through the portal.
8. Tracking and reporting
- Change the milestone status to “Active” once it’s ready, and publish it to the external portal if necessary.
- View all milestones, their status, and due dates from the Milestones sub-area for comprehensive tracking and reporting.
By using the contract milestones feature, you can better manage project objectives, track approvals, and ensure accurate financial control within contracts.
This functionality helps ensure that milestones are properly met, approved, and reported, providing better transparency throughout the contract lifecycle.
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