What is contract release authorized party in SAP AP - Application Platform?

SAP Term: contract release authorized party

• Component: AP

• Component Name: Application Platform

• Description: A party that is authorized to release goods or services from a contract.

Smart SAP Assistant

• Key Concepts: 
  Contract Release Authorized Party is a feature of the SAP Application Platform (AP) that allows users to assign a specific person or group of people to approve or reject contracts. This feature helps to ensure that contracts are reviewed and approved by the right people, and that any changes made to the contract are done so in a secure and controlled manner. 
  
  How to use it: 
  To use the Contract Release Authorized Party feature, users must first create a contract in the SAP Application Platform. Once the contract is created, users can then assign an authorized party to review and approve or reject the contract. The authorized party can then review the contract and make any necessary changes before approving or rejecting it. 
  
  Tips & Tricks: 
  When assigning an authorized party to review and approve or reject a contract, it is important to ensure that the person or group of people assigned have the necessary knowledge and expertise to make informed decisions about the contract. Additionally, it is important to ensure that all changes made to the contract are documented and tracked for future reference. 
  
  Related Information: 
  The Contract Release Authorized Party feature is part of the SAP Application Platform, which is a comprehensive suite of applications designed to help businesses manage their operations more efficiently. Other features of the SAP Application Platform include workflow management, document management, and analytics.