Contracts are services provided to a resource for a definite time period. The assets purchased can be associated to more than one contract with different times for renewal. If the contracts are not renewed on time, enterprise end up paying huge penalties.
With Contract module in AssetExplorer, you can manage multiple contracts associated with your assets such as printers, scanners, workstations, routers, and even your air conditioning systems. Also, you can not only track the contract renewal time but provide an option to notify the asset manager before a contract expires to avoid penalties.