Hello friends this is Daniel Slocum I work in product success here as servicenow I want to talk to you today about the Enterprise Asset Management product specifically the lease management functions for lease end we are currently looking at the Enterprise asset workspace the Enterprise asset estate module of the Enterprise asset workplace and down here on the right side roughly about halfway down the screen if I were to show you the whole screen is the lease contract expiration in 90 days widget if we were to click into this widget we'd see Zero Records meeting that criteria what this does is runs a current tally of the number of contracts and assets that are expiring within 90 days this gives a asset manager the opportunity to click right into see which contracts are expiring and which assets need to be dispositioned much like this asset warranty expirations for the year which is reflecting 460 the lease contract expiration widget would show when those assets correction when those contracts and assets are up for expiration however this demo data that I'm showing you here all the contracts are new this is a new product the demo data is new and the lease end on all of our demo contracts are in 2023 and it's currently August 28th excuse me August 8th 2022. so we don't have any of the match criteria what that's just showing zero never fear though when you um when you use this product deploy this product or leverage this product for your own Asset Management this will this will reflect accurately let's bump into the lease management itself module and take a look at some of our lease contracts um one thing to note when deploying this product if you have any lease contracts tied to either the asset Plug-In or the hardware Asset Management product those will be visible here although you shouldn't be dispositioning those all of these are here and they're visible because they share the same base contract table the AST underscore contract table in Enterprise Asset Management however the Enterprise Asset Management contracts that are associated with leased assets for fleets and other types of Enterprise asset Enterprise assets then those are the ones that we want to manage here so let's just pop into this Toyota Financial Services Fleet um contract we have several hatcheries that you'd expect to see the the contract model is leased the state is active you know it shows the vendor shows the contract number who the local administrator is for it to approve the contract um here at your company XYZ the start date the end date some description of what it is we also show in this related list the assets covered in this case we have five Toyota Camrys that are under lease and it shows the approval history expense lines child contracts Etc if we even you know if we've renewed this at any point it'll show the contract history or extended it so let's jump right into showing you the lease process the lease end process we can using these UI actions at the top we can cancel the contract we can re-save you know details about the contract if we've updated the description we can also begin the lease end process so we're going to click that we get this warning that says Hey do you really want to do this and yes of course we do foreign note now that once we have clicked the UI action to begin the lease in process that the assets covered related list changes to lease and assets and here we need to disposition each one of the individual assets and identify how we want to handle it as part of the leased in process so looking at the first record here we can see that we have an asset task we're in the planning stage so we'll pop into this asset task and we'll identify how we want to handle the disposition of this asset asset at the end of the lease the lease action attribute is required and we can choose return extend or buyout now we're going to return this asset and once we have done that we updated the lease action once we've done that we close the task and the workflow then takes us to the next step in the flow which would then be um to collect the asset from wherever it may be if it's you know in use by somebody we need to go get that back if it's in a stock frame where in this case Fleet it would be in a motor pool we would then go out and collect it and bring it into wherever we're going to return it from and that would be you know consistently for various types of assets stockroom or in this case you know the motor pool whatever location that would be so let's let's open up this task foreign we have collected the asset we're going to update the the asset collected to yes and it requires a stock room and so you can create your stock rooms renaming them however you like in this case we're going to choose Enterprise Asset Management stockroom East if you've set up your modal pools as stock rooms then they might say Enterprise Asset Management motor pool you know one two three whatever happens to be and we'll close this task foreign note that we had some information alerts we didn't have any warnings that's with the blue whereas I just clicked away from them um all right so continue on here we have um note this activity log is actually showing the different stages as we process through them we are now needing to move on to the next task so we open up this task and again we continue the process we we have prepared the asset we've cleaned it we've returned it to its original um configuration to which it under which it came to us and all the parts and pieces are there so now we close the task and once again we can refresh the list so upon completion of the preparation task we now have the shipment task but in this shipment task we have the opportunity here to identify again work in progress close complete the um we need to identify the ship date we'll choose stay the carrier whoever it is that's coming to pick this up and some sort of tracking number um you can add notes if you wish you can compose your own activity information here as well we're going to close the task refresh the lists and then that organization to whom we shipped the vehicle back as part of the lease end will then give us a confirmation that it has been returned here we are going to Simply identify that we have a return confirmation there is um no settlement information due if there were settlement information we'd add that dollar value here if there was a cost associated with a charge that you know applies to at least in due to damages or some of the components are missing in this case we're saying no and we close the task foreign automatically by the workflow whereas I mark them myself on a couple of this tasks as we move through it the workflow is prescriptive it does come back and Mark these as closed complete you can choose as you're working on this specific task to mark that is in progress and when you close it it will automatically Mark as close complete um let's go back to the details this and refresh this list we can see that the first one in the stage is now completed it has a lease action of return which is what we did the state of the asset is now in retired and the substate is least return identifying that this the this vehicle is now a retired asset and we returned it to the uh to the vendor we can also look into the asset itself if we go into the asset itself we can see that the asset State and Status have updated and the information here is is also changed as we worked through the the flow for the return so the workflows automatically update this the assets that are related to them that are being processed so that you can save clicks you don't have to have any of the people doing the work for you have to navigate into the assets themselves and update them okay so I have reset my screens and I've resumed recording and I wanted to show you now what this happens how this process works with the different subflow and that would be the lease buyout so we've opened up a second one of our lease assets that need dispositioning and returning and we are going to select the um the lease buyout function for it so contract asset tasks the planning stage and here we're going to lease action bio we're going to close the task we're looking at our contract asset tasks now we will refresh the screen our planning phase is closed complete and the buyout is now open here we are requesting buyout we have you know we're talking to our vendor at this point we're asking them out asking the vendor what the buyout cost would be we um we identify a buyout date the vendor says the cost will be empty frats in this case empty frats will convert that to some U.S dollar amount and let's say is twenty thousand dollars it's automatically being added to a purchase order and a purchase order line which will be created as part of the closed parts of this task and we close this task the day did not save let's save the date I must have hit cancel instead of okay all right great so we'll close the error message and we close the task activity is updating in the background there I don't know if you saw that so now it says State closed complete was open for this particular task we need to look at this purchase order information we cannot close this task unless the purchase order itself has been marked received so let's let's open the purchase order foreign ER has various information that most purchase orders would as you can see shipping information terms conditions descriptions has the purchase order line all pre-filled out by the workflow and we can um here we can simply click the um order and submit the order directly to the lease vendor and this will go if you've integrated with your Erp system this will go into that for for communication and payment and we then once we get confirmation back that it has indeed been processed b-market is received I'm typically in Hardware asset management or the asset plug-in this would automatically create new assets this will not do that what it will do is it will is it will change the information on the existing asset to reflect that it was at least buyout so its Market is received we do have a link back to the asset here on the asset tab which you would anticipate we also have a receiving slip showing that was received so we're gonna bounce back over here into our bio details because this has been completed and we can now Mark this buyout confirmation as yes we can close this task we'll click on details here um correction we will refresh the screen and all the tasks are closed complete so going back to the details pane we will now refresh this and we can see that this asset has been um has been bought out and we can click into the asset and we can see that it's still marked as in use and on the activity tab we can see that the the asset has been bought out as part of asset task you know number one zero zero one one and we can then also link to the expense line back to the uh to the information of that buyout purchase order and we can see that um follow the audit Trail back to how it was paid for so that was buyout and we've also talked about return and so the final use case would then be a um an extension of the lease contract so I've once again reset my screen back to the primary contract we're looking at the least in assets list and we're going to take this asset t10146 and we're going to extend it how do we do that well much like we did the other tasks the subflow for lease extension is now active in the background we're identifying the contract on the um pardon me on the asset itself and we can see the contract as a tasks here so we'll click into the first one where in which we have to again choose the lease action and here we're going to extend the contract close the task foreign go back to the contract asset tasks list refresh the list it shows that the extension task now is open click into that extension task note that has created a purchase order in our purchase order line with which to track the expenses I will just randomly throw a number out here obviously you would contact the vendor and identify the value for the dates this will start today and we will extend it through 2025 click ok looks like I didn't quite click that just right we'll mark it 2025. and we will close the task and much like the buyout task we have to then go into the purchase order information and make sure that it's closed out properly so we'll open up the purchase order um submit the order once it goes through all the processes of submission payment Etc we can click Market as received purchase order is received the assets link has been updated we have a receiving slip and we can go back to the task and we can um correction we can go back to the details and look at our asset there we go and we can refresh so now the extension confirmation is open we can confirm that the the vendor has received payment and that we have confirmation of that payment is yes close the task and here's our task list once again and it is marked close complete and let's go look at that asset so what happened to it it was previously on a contract um and we've moved it that was on this tfs1001 and we have extended it now so what is it on now and how does that look what is it done in the background what is the what is the subflow completed for us on the background both activity log shows that we have received a extension purchase order for the contract and our contracts tab now shows that we have two contracts that are linked to this specific asset and so the first one was the original contract it says now it's completed the action at the end of that completed lease was to extend it the state was active expiring and then we have it's brand new contract it is showing vehicle Fleet East 2020 extension bearing the same name bearing an EXT prefix the underscore prefix to show that it was an extension and this contract is currently open and so if we were to click into this contract it would show us at least end date of 2025 please 20 25 0808 so there you have it those are the three primary use cases for lease end under Enterprise Asset Management so now that I have shown you how to work through the lease end flows for the three primary use cases of returning an asset extending the at least contract or buying out the lease contract I want to show you the contract form itself this is important because you don't get the cardboard for the horse I've shown you how to handle the end of it but I haven't shown you the beginning and so there are some key attributes that need to be populated into a lease contract and those values are the contract number which is mandatory and in those prefixes that we had before identified the vendor I'm going to make something up here related to my initials and this will be um demo lease contract something is wonky with my keyboard sorry about that we need to have a start date an end date an administrator and an approval so let's click on the administrator and good old Abraham Lincoln who we love and and as part of our demo information and here we're going to choose me as the approval so our parent contract that that is something you can choose not required at the beginning the start date is today the end date would be sometime in the future I'll go ahead and choose today and simply edit the year value and we'd have some description information although not required so the the primary values that are required of the contract number the start date and date the contract administrator and the approver um the renewal information is here the financial information is here typically the the payment information it obviously you want some of that information right it's not required to submit the for review however foreign information to the assets cover this is a listing of all the assets that are covered by the specific contract you can filter by asset type um it's already pre-filtered here by the contract information and showing that there's nothing related to it at the moments we need to add some it's something to keep in mind that you cannot add the type the following type of assets child assets consumables assets that are not Enterprise assets assets that are currently part of another contract or process that are such as disposable loaner Etc retired or missing assets or of the multi-component type assets the user assembled assets and I've created a model video that talks through those so we're going to pick the top three here and just throw them in top four can't count we have some assets covered we need to save this and we look at our details and we have our assets covered contract history approval history it's requested of me at the moment and once this is approved then the contract is is in force and we then we disposition it the assets that are part of it just like we showed you at the beginning so right here from this approval history form portion of the Forum on the on the contract itself I can click in here at into the state and choose to approve it once I approve it and save the record look at the details of the asset excuse me the detail of the contract and we can refresh the screen and now we can see that this is in force we can cancel the contract add descriptive information at a business owner or parent contract if there happens to be one we can save that or we can as we did before begin the lease end process if we're nearing the end of the term foreign other things around lease and processing here in Enterprise asset management and that is some of the the guard rails that are in place there are various client scripts that manage the the visibility of certain attributes and functions of the forms but more importantly I think that if you're developing or if you're a an admin you know managing the Enterprise asset management application for a group of end users in your organization or if you're delivering this product for the first time or you know maybe the second the third time but this is an important bit of information what are the business rules that are you know help keep this product on the rails in this lease management flow governed and functioning properly and so we have various business rules here this is a I filtered this on purpose to the primary business rules that are that are part of the process and then I want to show you the flows in flow designer and we have a parent flow the common lease contract expiration and this is what gets triggered when we click the um when we click the begin at least end process button UI action button type action on the form this gets triggered and related to that we have three subflows and the subflows are common least asset buyout common least asset extension and common least asset return and those are the three subflows that we traveled through and processed when we did the three dispositions at the beginning of this video so I want to thank you for taking the time to watch it I hope you learned something and until next time when I create another video for you have a great day