Contract Management and the Prime Contract tools are rather similar because both of them have contracts, PCOs, COs, and pay applications/invoices. The Projectmates terminology can be unclear when it sounds the same. Let's discuss the differences and why you would select to use one over the other or both.
Contract Management Modules
- Used to manage multiple contracts within a single project
- Examples: sub-contractors, architects, engineers, and more
- Most popular option by most of our clients
Prime Contract Modules
- Used to manage a single, all-encompassing contract for the whole project
- Examples: GC contract, Developer contract, or for billing the Owner
- Primarily used by clients who manage commitments and actuals for account payables and account receivables