Smart — Contract Lifecycle Management, Approvals & Versioning

One of the biggest financial risks in construction and contracting is uncontrolled contract management. Subcontractor agreements are drafted in Word files, approvals are chased via phone or email, revisions get lost in scattered folders. The result: payments are made for work items not in the contract, limit overruns go unnoticed, and addendum histories become untraceable. Smart was built to digitize contract management end-to-end and eliminate these risks.

Smart enables subcontractor, supplier, and sub-vendor contracts to be prepared digitally using corporate templates. Contract text, unit price schedules, quantity caps, payment terms, and collateral details are entered in structured form. Prepared contracts route through configurable hierarchical approval workflows (e.g., Project Manager → Procurement Director → CEO); every approval step is logged with timestamp and user identity.

Versioning & Addendum Management: Smart's most powerful feature is its full versioning system. The initial contract is saved as v1.0; any change (price revision, time extension, scope modification) generates a new version (v1.1, v2.0, etc.) while the previous version remains immutable. Extra work contracts and addendums are archived as separate versions. This creates a fully auditable trail of what changed, when, and who approved it.

Billing Limit Enforcement: Smart doesn't just create and archive contracts — it cross-references with the Accounting billing module to automatically validate stipulated unit prices, total quantity ceilings, advance ratios, and retention deductions. If a subcontractor billing exceeds the contract limit, the system blocks the payment and raises an alert. Over-contract and over-limit payments are prevented at the institutional level.