Workflow Express

Contract Management Workflow

A common use of workflow is to for contract management so we will use it to illustrate the value that a workflow system can provide. Of course, this is just one example; an effective workflow system can manage the full range of your processes, from the initial customer inquiry all the way to billing and customer support.

Contract management is the control of all agreements which a company makes, from initial drafting through to final agreement by the company and third parties. The system not only provides unified access to all contracts, but ensures that they are routed effectively through the approval cycle, alerts management of any delays, assigns and re-assigns responsibility where needed and provides an audit trail of the entire process.

The items controlled by the contract management workflow include:

  • Drafting, assessment and approval of the agreement.
  • The templates for such agreements
  • Standard clauses within the templates
  • Business terms included in the clauses, defining governing date, delivery, price, discounts, legal jurisdiction, penalties for non-complance and all such matters.
  • Processes to ensure compliance
  • Automatic renewal notifications before the contract expires.

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