Validate specification against business and legal requirements
8
Approval: Specification validation
9
Identify potential vendors and systems
10
Perform initial assessment of potential systems against requirements
11
Request proposals from selected vendors
12
Evaluate proposals against requirements
13
Approval: Vendor selection
14
Negotiate terms of agreement with selected vendor
15
Finalize contract with vendor
16
Plan system implementation
17
Implement system and perform functional testing
18
Approval: Functional testing
19
Train end users on new system
20
Transition to new system for live operations
Identify key stakeholders for contract management process
Identify and list the key stakeholders involved in the contract management process. Consider individuals or departments that are responsible for initiating, reviewing, approving, and monitoring contracts. Identify any external stakeholders such as legal advisors or vendors. Understanding the key stakeholders will help ensure their needs and requirements are met throughout the contract management process.
1
Initiator
2
Reviewer
3
Approver
4
Monitor
Define business and legal requirements for contract management system
Identify and define the business and legal requirements that the contract management system should meet. Consider factors such as contract types, compliance requirements, document storage and retrieval, reporting capabilities, and integration with other systems. Clearly define these requirements to ensure they are met by the contract management system.
Identify capacity and volume needs
Determine the capacity and volume needs for the contract management system. Consider factors such as the number of contracts to be managed, the expected growth in contract volume, and any scalability requirements. This information will help ensure the selected system can handle the expected workload and growth.
Identify and list the desired functionalities and features that the contract management system should have. Consider features such as contract creation and editing, document version control, automated workflows, contract templates, reporting and analytics, and integration capabilities. Clearly define these desired functionalities to ensure they are included in the system requirements.
Develop a detailed system requirements specification document based on the identified business and legal requirements, capacity and volume needs, and desired functionalities. Include information about system architecture, data security, user roles and permissions, user interface design, and any other specific requirements. This document will serve as a guide for selecting and evaluating potential vendors and systems.
Validate specification against business and legal requirements
Review and validate the system requirements specification against the identified business and legal requirements. Ensure that all the requirements are adequately addressed and any discrepancies or gaps are identified and addressed. This validation process will help ensure that the selected system meets the necessary criteria.
Approval: Specification validation
Will be submitted for approval:
Develop a system requirements specification
Will be submitted
Validate specification against business and legal requirements
Will be submitted
Identify potential vendors and systems
Research and identify potential vendors and contract management systems that can meet the identified requirements and functionalities. Consider factors such as vendor reputation, system features, pricing, customer support, and compatibility with existing systems. Create a list of potential vendors and systems for further evaluation and assessment.
Perform initial assessment of potential systems against requirements
Conduct an initial assessment of the potential contract management systems identified. Evaluate each system against the identified requirements and functionalities to determine their suitability. Consider factors such as system features, ease of use, scalability, customization options, and integration capabilities. Analyze each system to determine its strengths and weaknesses.
1
Meets Requirements
2
Partial Match
3
Does Not Meet Requirements
Request proposals from selected vendors
Send a request for proposals (RFP) to the selected vendors. The RFP should include detailed information about the contract management system requirements, functionalities, implementation timeline, support and maintenance requirements, and pricing. Request the vendors to provide proposals that address these requirements and include any additional information or capabilities they can offer.
Evaluate proposals against requirements
Review and evaluate the received proposals from the vendors. Assess each proposal against the identified requirements, functionalities, and criteria. Consider factors such as compliance with requirements, pricing, implementation timeline, vendor experience, customer references, and any additional value-added services. Compare and analyze the proposals to determine the most suitable vendor and system.
1
Meets Most Requirements
2
Partial Match
3
Does Not Meet Requirements
Approval: Vendor selection
Will be submitted for approval:
Identify potential vendors and systems
Will be submitted
Perform initial assessment of potential systems against requirements
Will be submitted
Request proposals from selected vendors
Will be submitted
Evaluate proposals against requirements
Will be submitted
Negotiate terms of agreement with selected vendor
Initiate negotiations with the selected vendor to finalize the terms of agreement. Discuss and agree upon factors such as pricing, implementation timeline, support and maintenance services, training and onboarding, and any additional requirements or customization. Ensure that all terms and conditions are clearly defined and documented in the contract.
1
Agreement Reached
2
Pending
3
Disagreement
Finalize contract with vendor
Once the negotiation is successfully concluded, finalize the contract with the selected vendor. Ensure that all agreed-upon terms and conditions are clearly stated in the contract, including pricing, implementation timeline, support and maintenance services, training and onboarding, and any additional requirements or customization. Review and sign the contract to formalize the agreement with the vendor.
Plan system implementation
Develop a detailed plan for implementing the contract management system. Consider factors such as system configuration, data migration, user training and onboarding, system integration, and change management. Create a comprehensive plan that outlines each step of the implementation process and the responsible parties.
Implement system and perform functional testing
Implement the contract management system according to the planned implementation process. Configure the system, migrate existing data, and ensure all functionalities and features are working as expected. Perform thorough functional testing to identify any issues or bugs and address them before proceeding.
1
System Configuration
2
Data Migration
3
Functional Testing
4
Bug Fixing
1
Completed
2
In Progress
3
Not Started
Approval: Functional testing
Will be submitted for approval:
Implement system and perform functional testing
Will be submitted
Train end users on new system
Develop a training program to educate end users on how to use the new contract management system. Create training materials, conduct training sessions or workshops, and provide step-by-step guides or tutorials. Ensure that end users understand the system functionalities and can effectively utilize the system for their contract management tasks.
1
Create Training Materials
2
Conduct Training Sessions
3
Provide Guides/Tutorials
Transition to new system for live operations
Transition from the previous contract management system to the newly implemented system for live operations. Ensure all necessary data and documents are migrated, and all users are trained on the new system. Monitor the transition process and address any issues or challenges that arise during the transition. Once the transition is complete, the new system will be fully operational for managing contracts.
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