Release Trakti 3.2

We are excited to annunce our latest release!

Trakti 3.2 introduces a significant update of the Contract Trackers (Trak)

A contract can include within it some activities, tasks or steps that need to be completed in order to the proper conduct of the deal and the compliance with the agreements between the parties.

In order to be sure that all contractual activities are in accordance with the terms of the agreements, there is a need to monitor them regularly and ensure that they are carried out on time and as planned; usually this is a job done manually and requires time, precision and attention and external tools, this is why we thought of creating Trak, to embed, simplify and automate the monitoring of activities.

Trak is a feature within Trakti that enables you to track, manage, and monitor critical contract activities directly within your contract documents. This functionality eliminates the need for external tools, such as spreadsheets, by integrating tracking and monitoring directly into the contract’s workflow.

Trak can be added during the creation or post-signature phase, providing flexibility to manage ongoing contract activities and tasks efficiently.

• Management of Key Activities: With Trak, you can manage deliverables, payments, tasks, and other essential activities tied to the contract.
• Task Assignment: Easily assign tasks to team members or external counterparts, with clearly defined deadlines, timelines, and checklists.
• Activity Monitoring: Track the status of all activities and sub-activities in real time to ensure that deadlines and objectives are met.
• Approval and Validation: Validate milestones and approve tasks to ensure that activities are progressing as planned.

The Trak feature offers several key benefits to help improve the efficiency of contract management:

• Transparency: Provides real-time visibility into contract activities, keeping all parties informed and aligned on progress.
• Compliance: Enables real-time monitoring of compliance tasks, ensuring that all activities adhere to contractual obligations and regulations.
• Risk Mitigation: Helps reduce the risk of delays or errors by streamlining the management and monitoring process.

You can add Trak to your contract in two ways:

1. During Contract Model Configuration: You can enable the Trak functionality while setting up your contract model.
2. Post Signature of the Counterparty: After the contract has been signed, you can add a Trak by selecting the contract and clicking the “+” button in the Trak section to enter your tracking information.
   
   You can find all the information about creating a Trak in this dedicated guide.

For exemple, you can use Trak to monitor a payment or assign to someone the task to check for an order progress and, to be sure, request to attach a proof too, so that you can really have control of the contract journey and of all its related actions.

Once your Trak is set up, you can customise it according to your needs. These are some of the available options:

• Start/End Date: You can set specific start and end dates to define the timeline for tracking activities.
• Visibility Settings:  Define the Visibility of your Trak according to your needs.  You can set it as 'Personal', so the Trak will be visible only for you, 'Internal', the Trak will be visible to your Team, or 'Shared', the Trak will be visible also to the counterparty. Choosing the 'Internal' or 'Shared' option you will be able to assign the Trak to someone and select an Approver for the request.
  
• Checklists and Sub-Traks: Break down complex tasks into smaller steps with detailed checklists and sub-Traks, with this function you will be able to clarify your goals and the steps that need to be done to archive the task.
• Attachments and Proofs: You have the possibility to request document as proof of a specified task.
  So there is the possibility to attach files or documents to verify the completion of tasks or provide supporting evidence.