Everything You Need to Know When Creating Contract Management Workflows

Everything You Need to Know When Creating Contract Management Workflows

by admin
December 17, 2019

A complicated contract means a lot to keep track of. Breaking the task down into workflows is a perfect way to make sure that things stay under control. However, a single contract may have several workflows. They can be sequential (each step happens as the previous one is completed) or parallel (two or more steps concurrent). Streamlining contract management workflows is a challenge for everyone. But good workflows ensure that tasks finish up on time and (ideally) under budget. It’s just one of the core capabilities our contract management system offers, and you can read about our 99 features here.

Keeping track of them can easily turn into a flowchart nightmare. Many people use separate workflow apps that help ensure that workflow tasks go to the right people. It is, however, much easier to use an integrated contract management system that includes workflow management. So, what do you need to know when creating a workflow?


1. What Are Contract Management Workflows?

It may seem overly simplistic, but the first step to a strong workflow is clearly defining the objective. The steps in a vendor contract management workflow, for example, differ from customer contract management. Then, either break the workflow down into tasks or organize the tasks into a workflow. Some people find it easier to build workflows from the ground up. Either way, working out which tasks belong in which workflow is the first problem. Once you have built a few workflows, you can start creating workflow templates that save a lot of time for similar workflows in the future. For example, if you are a constructor who builds similar small office buildings, you may have a stored workflow template for windows and doors. This process documentation ensures that you do things the same way every time (unless a report indicates a problem).

ContraxAware also allows you to initiate workflows from within the system, set steps as parallel or sequential, and more. An on-screen prompt will then guide users through the relevant steps, and the system will keep track of what the current status of a workflow is.

2. When Should Each Step Happen?

When does a contract management workflow need to be completed? 

One of the challenges of project management is assigning due dates to things in the middle of the project. ContraxAware gives timeline views that allow you to move workflows on the timeline. Work out how much time the workflow needs and what workflow comes after it. You can then assign a due date for the whole project before going through the template and assigning due dates to specific steps.

This means that, rather than having one drop deadline for the entire project, you are presenting employees with a series of steps. Each one has its own due date, and that makes each step more manageable. This helps bring the task under control and ensures things are done in the right order by the right date.

3. Who Handles Each Task in the Total Process?

Finally, you need to assign workflows or steps to specific people. Some steps might need to be assigned to external users. For example, you may need a customer to approve the design of their artwork before you go ahead and print off their t-shirts. The system allows for this. 

You can assign contract management workflows and steps to the employees who are best equipped to deal with them. Once you assign the tasks, the system will automatically send them emails, alert them of their assignment and due dates, alert them if they are overdue, and more. A well-built resource library can even have step-by-step directions for complete process control. Contract management workflow templates may themselves assign specific tasks to a specific user. 

If, for example, all service-related sales belong to a specific sales manager, the template can send that task to them immediately. Then, the system may automatically prompt them to assign the next step to the best salesperson for the region or industry focus. Supervisors will be able to manage tasks assigned to their team members. Tasks can easily be reassigned if, for example, a team member is sick. To-do lists can be shown as a list or a graph, depending on what the user prefers.

Why Should You Create Automated Contract Management Workflows?

Automated workflows don’t just help standardize how your business does business. They can remove a lot of the manual work and keep opportunities moving. Some specific benefits of managing contracts online with a request portal include:

  • Each user gets access only to what they need, but you can also give them access to the overall workflow or contract for more efficient contract tracking.
  • Project managers will receive notifications when a workflow is completed. 
  • When you assign a task to a user, the system will give them access to the records and documents they need to successfully complete it.  The system will guide them through the steps. Each time they sign off on a step, it will automatically move them to the next or notify the next user in the chain. 
  • Users can check documents in and out. At the same time, the system can track when documents may have been changed and by who. Document comparison allows a manager to double-check that no one made unauthorized changes.
  • The system allows multiple people or one person in a pool of qualified users to complete tasks. This is particularly important for the signature step, which is a workflow in its own right. ContraxAware has single -click accept/reject functions to save time when approving workflows and tasks.

ContraxAware helps you create contract management workflows. These tools break down contracts into manageable tasks and assign them to the people who need to handle them. You can easily put together the what, when, and who to make a workflow that makes sense and will help you finish all of your contracts on time. See how good workflow organization can look when it’s part of your contract management system.

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