Period and Version Management

Use

Period management is of utmost importance in systems for managing contracts. Changes to objects (contracts) managed in these systems are often commission-relevant.

The definition of current version , in particular, is not determined generally in operational systems, but specifically for the each business transaction. In addition, it needs to be possible to make changes in the past (backdated) and in the future (postdated).

Features

You can track changes in the commission system at any time and without any gaps, by using the validity periods. The commission system ensures that the commissions can be correctly remunerated or recalled. The period and version management in the commission system ensures:

Auditability

  • Changes made to objects are documented and thus made auditable.

  • All changes to an object are fully documented and can be tracked.

  • The system documents processors and processing time spots.

Effective validity times: (effectively valid from – to)

  • Different versions of an object are represented by the system.

  • Valid old statuses and currently invalid statuses of an object are stored in such a way that they can be reconstructed.

  • Time-consistency between objects is ensured.

  • It is possible to make changes that do not become effective until some time in the future.

  • Retroactive changes, going beyond existing statuses, are also possible.

Technical processing times: (technically valid from – to)

  • Different processing statuses and the documentation of processing times are represented by the system.

  • The processing time and processor are documented for each change.

  • The processing status of an object and time information on system-relevant status changes must be traceable.

Period management is described from an effective and a technical point of view. Since the commission system gives the objects an effective and a technical timestamp, period management is also called two-dimensional period management.