TL;DRThe master list of who you bill and what you sell — customers, products, and list prices.
The catalog is the source of truth a contract is matched against. A product on a contract is linked to a catalog product; a price is either the list price or a contract-specific override; a customer is a catalog customer, not a name typed on a PDF.
When a contract is approved, any product, price, or customer it needs that does not exist yet is created in the catalog — an existing one with the same name is linked, never duplicated.
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See it on your contracts
A walkthrough on the agreements and files you actually bill from — not a slide deck.