What is contractual activity in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: contractual activity

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Work, monetary activities and payment in kind performed by the insurer under the conditions agreed.

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• Key Concepts:
  Contractual activity is a feature of SAP ICM Incentive and Commission Management (ICM) that allows users to define and manage contracts with customers, partners, and other stakeholders. It enables users to define the terms of the contract, such as payment terms, discounts, and incentives, as well as track the performance of the contract over time.
  
  How to use it:
  To use contractual activity in SAP ICM, users must first create a contract template. This template defines the terms of the contract and can be used to create multiple contracts with different stakeholders. Once the template is created, users can then create individual contracts based on the template. The contracts can then be monitored and managed over time to ensure that all parties are meeting their obligations.
  
  Tips & Tricks:
  When creating a contract template in SAP ICM, it is important to ensure that all of the terms are clearly defined and easy to understand. This will help ensure that all parties involved in the contract understand their obligations and can easily track their performance over time. Additionally, it is important to review the contracts regularly to ensure that they are still valid and up-to-date.
  
  Related Information:
  SAP ICM also provides features such as performance tracking, incentive management, and reporting capabilities that can be used in conjunction with contractual activity. Additionally, SAP ICM provides integration with other SAP products such as SAP ERP and SAP CRM for a more comprehensive view of customer relationships.