iTWO CX allows configuring Escalation Month for the Contracts Administration module.
With this setting you can configure the month in the year when the escalation rates take effect.
You can also define the Year Start month. This will allow you to configure your own financial year as per your company requirements.
Eg:
- Start Month - Jan
- Escalation Month - Sept
This means that the rate for the previous will be escalated to = old rate x % of escalation.
Here is an example below.
