What is contract snapshot in SAP FS-PM - Policy Management?

SAP Term: contract snapshot

• Component: FS-PM

• Component Name: Policy Management

• Description: View of the data of the contract of a policy on a specific effective date.

Smart SAP Assistant

• Key Concepts: 
  Contract Snapshot is a feature of the SAP FS-PM Policy Management component that allows users to capture and store a snapshot of a contract at any given point in time. This snapshot can be used to compare the current version of the contract with previous versions, as well as to track changes over time. 
  
  How to use it: 
  To use Contract Snapshot, users must first create a contract in the SAP FS-PM Policy Management component. Once the contract is created, users can take a snapshot of the contract at any point in time. This snapshot will be stored in the system and can be accessed at any time. 
  
  Tips & Tricks: 
  When taking a snapshot of a contract, it is important to make sure that all relevant information is included in the snapshot. This includes any changes that have been made since the last snapshot was taken. Additionally, it is important to make sure that all relevant stakeholders are aware of the snapshot and its contents. 
  
  Related Information: 
  For more information on Contract Snapshot, please refer to the SAP FS-PM Policy Management documentation. Additionally, there are several online resources available that provide detailed information on how to use Contract Snapshot and other features of SAP FS-PM Policy Management.