What is progress payment request in SAP PSM-GM - Grants Management?

SAP Term: progress payment request

• Component: PSM-GM

• Component Name: Grants Management

• Description: A request for payment based on the progress towards achieving the terms and conditions of an agreement.

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• Key Concepts: 
  Progress Payment Request is a feature of the SAP PSM-GM Grants Management component that allows users to request payments for goods and services that have been delivered or partially delivered. The request is sent to the grantor for approval and, once approved, the payment is made. 
  
  How to use it: 
  To use the Progress Payment Request feature, users must first create a payment request document in the system. This document should include all relevant information about the goods or services being requested, such as the amount, delivery date, and any other relevant details. Once the document is created, it can be sent to the grantor for approval. Once approved, the payment will be made. 
  
  Tips & Tricks: 
  When creating a payment request document, it is important to include all relevant information in order to ensure that the grantor can make an informed decision about whether or not to approve the request. Additionally, it is important to keep track of all payment requests in order to ensure that payments are made in a timely manner. 
  
  Related Information: 
  The Progress Payment Request feature is part of the SAP PSM-GM Grants Management component. For more information about this component and its features, please refer to the SAP Help Portal.