ChecklistGuro Contract Management and Renewal Workflow
Streamline your facility operations with our automated Contract Management and Renewal Workflow. Eliminate manual tracking, prevent service lapses, and optimize vendor performance with automated alerts, seamless renewal cycles, and end-to-end lifecycle oversight designed specifically for modern facility management.
Start
Start of the Workflow/Process.
1. Retrieve Active Contracts
Fetch all entries from the Contract Data Model where status is 'Active'.
2. Identify Expiring Contracts
Filter contract entries where the 'Expiration Date' is within the next 90 days.
3. Calculate Days Until Expiry
Calculate the difference between the current date and the contract expiration date.
4. Assign Contract Review Task
Create a task for the Legal Department to review terms for upcoming renewals.
5. Contract Review Checklist
A predefined set of steps including: 'Verify pricing', 'Check indemnity clauses', and 'Confirm service levels'.
6. Update Contract Status
Change the status of the contract entry to 'Under Review'.
7. Get Vendor Contact Info
Retrieve the email address and contact person from the Vendor Data Model linked to the contract.
8. Send Renewal Notice to Vendor
Send an automated email to the vendor contact notifying them of the upcoming renewal window.
9. Create Negotiation Task
Create a task for the Procurement Manager if the contract terms require renegotiation.
10. Create Renewal Draft Entry
Generate a new entry in the 'Contract Amendments' data model based on the original contract terms.
11. Update Contract End Date
Update the 'Expiration Date' field in the original contract entry once the renewal is signed.
12. Set Contract to 'Active/Renewed'
Update the status of the contract to 'Active' for the new term.
13. Notify Stakeholders of Completion
Send an email to the Finance and Legal teams confirming the renewal is finalized.
14. Calculate Total Renewal Value
Sum the 'Contract Value' of all contracts successfully renewed this month.
15. Monthly Renewal Summary Report
Generate a report summarizing all completed renewals, total value, and upcoming expirations.
End
End of the Workflow/Process.
Start of the Workflow/Process.
Fetch all entries from the Contract Data Model where status is 'Active'.
Filter contract entries where the 'Expiration Date' is within the next 90 days.
Calculate the difference between the current date and the contract expiration date.
Create a task for the Legal Department to review terms for upcoming renewals.
A predefined set of steps including: 'Verify pricing', 'Check indemnity clauses', and 'Confirm service levels'.
Change the status of the contract entry to 'Under Review'.
Retrieve the email address and contact person from the Vendor Data Model linked to the contract.
Send an automated email to the vendor contact notifying them of the upcoming renewal window.
Create a task for the Procurement Manager if the contract terms require renegotiation.
Generate a new entry in the 'Contract Amendments' data model based on the original contract terms.
Update the 'Expiration Date' field in the original contract entry once the renewal is signed.
Update the status of the contract to 'Active' for the new term.
Send an email to the Finance and Legal teams confirming the renewal is finalized.
Sum the 'Contract Value' of all contracts successfully renewed this month.
Generate a report summarizing all completed renewals, total value, and upcoming expirations.
End of the Workflow/Process.
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