Making your organization run efficiently requires that you are able to take a clear and honest look at your workflows as they were designed. With the right enterprise technology, you not only can do this, but can also easily collaborate and communicate the business process you intended for those workflows, while enabling self-service capabilities to meet the demands of a wide variety of users.
In this regard, consider the number of various user types involved with contract management, where workflow requires flexibility in design to model processes based on disparate needs. For instance:
- Procurement practitioners must be able to oversee processes around sourcing and purchasing; including reporting and supplier and contract management.
- Legal needs to be able to help manage contractual arrangements and ensure legal requirements are met.
- Finance, along with Accounts Payable, needs to be able to handle invoicing, payments and budgeting processes in the context of those contracts.
Moreover, motivating the wider community of potentially hundreds or thousands of business users in source-to-pay is essential for widespread adoption to occur. From a business user perspective, contract management is not the end, but the means to manage their lines of business. Easier and more flexible processes that meet their needs are what business users want from a solution.
Furthermore, given the number of potential users within an enterprise, having controls in place for security and auditability is imperative. Modern organizations need solutions that can easily establish corporate governance through business process automation, something critical at a time when corporations are under increased scrutiny for managing compliance and risk, both within an organization and the relationships outside it.
business process workflow is integrated with other elements of a common, unified platform that reconciles master data, metadata, document management, alert management and enterprise integration under a common user interface that is influenced by the principles of material design. The result is a workflow mechanism that easily connects a variety of work streams, like source-to-contract or procure-to-pay, in a way that is intuitive and easy to use.
Linking data elements within the workflow improves continuity of an approval process and provides additional information for ensuring the context of the workflow. What makes the workflow platform practical and useful is not just the ability to act on a pending approval, but the capacity to clearly identify where a process is at any point in time and do it on any device from where you want to manage it. For Determine, it’s all about creating visibility when you need it.
Consider the following contract management examples:
When a contract is being created, often many different parties (business users, attorneys and others involved with the contract) are viewing and editing the document. Using collaboration workflow within Determine Contract Management allows users to keep track of their document during this negotiation process.
Collaboration workflow allows users to edit details of a contract, but also have the option of sending the contract to the business review, legal review or counterparty review. As a result, concerned parties can move the documents between the different states using the appropriate button. When the document is in either legal review or counterparty review the contract can be regenerated from the template.
Once the contract has reached the Ready to Sign stage there are now two signature workflowsto choose from: eSignature and manual.
In another scenario, consider the ubiquitous use of eSignatures. For eSignature workflow, Determine provides users the ability to route the signature requests to an approved electronic signature vendor (such as DocuSign) and the appropriate signatures are inserted into the contract. Contract owners can then receive an email that the appropriate parties have signed the contract.
With either signature workflow, users can also select the signing order of those involved.Userswith eSignature workflow can also have the option of canceling the electronic signature while the envelope is still in progress (before the contract has been signed by both parties).
Using the workflow platform in a modern enterprise technology like Determine is all about providing users with the sense of collaboration and self-service. With the latest 16.6 release of the Determine Cloud Platform, Determine enables organizations to enhance workflow capabilities for improving efficiencies to the masses while ensuring a sense of corporate governance for internal stakeholders.