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Master data about your organization and people

Overview

When you start working with the Contracts application for the first time, it is required that you correctly and thoroughly set up the information pertaining to your organization's structure and its business partners.

This article will guide you through the necessary steps that will allow for the business processes in contract management to run smoothly.

The Master Data application manages core objects that are in use in all other applications of Matrix42 Software Asset & Service Management.

Organizational structure

This is the management of organizational units, cost centers, and locations that constitute the hierarchical, financial and geographical divisions of your company. These three types of objects are assigned to each record in the Contracts application and in such a way create the ownership of each record.

The ownership of a record is useful for identifying to which company division this record belongs.

To set up the organization's structure, please refer to:

People management and access

Your employees are managed in the system as persons. You will need to specify the responsible employees when adding different types of contract records. If your employees should also have access to Matrix42 Software Asset & Service Management, an account must be created for each of such employees. 

By assigning roles to persons, the administrator can distribute and restrict access rights for employees.

Business relations

Business partners are essential for the contract management. You can add them as well as the business contacts also in the Master Data application. Business contacts represent employees of the business partner's organization.

To know more about business partners and contacts, please refer to:

Currencies

The system contains over 160 predefined currencies while currency exchange rates must be imported into the system.

The default currency of the system will be used in all records where monetary values are used, such as contracts, payments, invoices, etc. However, you can define several active currencies and select the required one in a properties dialog if necessary. 

Reports can be generated in any of the active currencies.

To configure currencies, follow the guidelines in the Managing currencies article.

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