What is benefit in SAP FS-MCM - Master Contract Management?

SAP Term: benefit

• Component: FS-MCM

• Component Name: Master Contract Management

• Description: The advantage that the master contract holder and possible beneficiaries gain if the master contract holder fulfills certain benefit criteria. &EXAMPLE& Better interest conditions, no charges or lower charges, smaller insurance premiums.

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• Key Concepts: 
  Benefit is a term used in SAP FS-MCM Master Contract Management to refer to the value that a customer receives from a contract. This value can be in the form of discounts, services, or other incentives. It is important to note that benefits are not the same as costs, which are the expenses associated with a contract. 
  
  How to use it: 
  In SAP FS-MCM Master Contract Management, benefits are used to track the value that customers receive from contracts. This information can be used to analyze the effectiveness of contracts and determine if they are providing sufficient value for customers. Benefits can also be used to compare different contracts and determine which one is providing the most value. 
  
  Tips & Tricks: 
  When tracking benefits in SAP FS-MCM Master Contract Management, it is important to ensure that all relevant information is included. This includes any discounts, services, or other incentives that customers receive from a contract. Additionally, it is important to track both the short-term and long-term benefits of a contract in order to get an accurate picture of its value. 
  
  Related Information: 
  In addition to tracking benefits in SAP FS-MCM Master Contract Management, it is also important to track costs associated with contracts. This information can be used to analyze the overall profitability of a contract and determine if it is providing sufficient value for customers. Additionally, tracking costs can help identify areas where contracts can be improved in order to increase their value.