Workflow…more than just contracts!

After a contract is signed, there are typically many more documents needed to administer the agreement. Sometimes, you simply need to include documents such as a W-9 or accounting instructions. In addition, you may have documents such as warranties, certifications, or insurance policies that require quarterly or annual updates and need to be managed throughout the term of the contract. ProcureSafe’s newest release provides simple tools to help manage these additional documents.

Many organizations use their Customer Relationship Management (CRM) systems to attach documents to a customer or contact. CRMs are built and designed to drive sales growth by managing contacts and improving relationships with customers – they are not designed for the ongoing management of documents, especially contracts. Utilizing a CRM for contract and document management does not generally allow for the additional documents to have alerts, version control or workflow management added to them. Many organizations decide to use systems like Microsoft SharePoint. SharePoint, for instance, was created to help businesses share files with each other. But since it’s a “document file sharing manager”, SharePoint falls short when it comes to actual “document management” which is more than simply sharing or collaborating on files. The key to document management is the ability to manage the entire document throughout its lifecycle. ProcureSafe allows you to manage all the activity and processes that are attached to, and within, those documents.

Lastly, many organizations simply store a paper copy of important documents in desk drawers. These documents are difficult to find and greatly decrease efficiency. One contracts manager told us about hiring an intern, whose sole job was to hunt down and record all fully executed contracts. The risk alone associated with the number of unknown commitments is unfathomable.

Below are three stories from our clients about how ProcureSafe helped them:

[Scenario A]

A Bio Medical company asked ProcureSafe to help them manage contractually required forecasts. The organization had several contracts that required quarterly or yearly forecasts for purchasing product from many different suppliers. They consistently missed forecast deadlines and, thus, did not purchase the correct amount of certain products. The ProcureSafe business solution enabled the client to simply add a folder for the tracking and management of forecasts in the documents tab of the electronic contract file. A notification was then created for each forecast time period that sent a message to three contract stakeholders to indicate that a new forecast was required. After the forecast was then updated or created, an automated workflow template was designed and initiated in order to obtain approval from all three of the forecast stakeholders, with the last person on the list having the responsibility of sending the forecast to the supplier. The ‘task view’ capability kept track of the different forecasts in progress and the steps needed to meet the deadlines.

[Scenario B]

A local government had a requirement that all suppliers needed a management level sign-off on a minority status report. The minority status reports had to be updated either every 6 months or annually, depending upon a preset standard of rules. Each time a new status report was prepared to be submitted, there was a sign-off process that needed to be performed. The process was tracked manually with paper files. ProcureSafe helped them configure a process workflow to meet their needs. The minority status report was attached as a document to the supplier profile with a required expiration date. The city procurement team was notified when the report expired and was able to request an updated report from the supplier. Once the new report was received by the city, a workflow was attached to track required sign-offs. The new workflow created a document trail that satisfied auditors and proved that the organization was staying in compliance.

[Scenario C]

An organization had just decided to build a new building. The organization created a document folder to track the various versions of the contract and a separate folder for the building specification documents. As the contract and specifications were developed, a workflow was created and attached to each document requesting approval and comments. After the contract was signed, documents for supplier and contractor insurances, workers compensation, accounting instructions, W-9’s, and change requirements documentation were gathered. The insurance and workers comp each were to expire prior to the project end date, so email notification alerts were attached to the documents to remind the proper stakeholders that the documents needed to be updated.

As the above scenarios show, ProcureSafe’s Workflow application is a dynamic tool that can be used to obtain approvals from any group of people in an organization. Now, alert notifications can be added not to just the contract, but to any document that needs to be managed in a timely or urgent manner.