The Contract Flow feature allows users with the Flow Template Admin permission to create a flowchart consisting of steps and connecting arrows to diagram the stages that their company's contract undergoes, while allowing for alternative paths at individual steps. A flow is designed to guide users in performing the tasks related to contract creation, negotiation, maintenance, renewal, and archival. A flow is prominently displayed in a Contract Profile, as a color-coded list of tasks, icons, and buttons, prompting users to complete the steps in a required process or procedure.
- If your company uses a single contract for its customer or vendor contracts, a single contract flow template can be created to define the entire life cycle process, from initial contract request → negotiated contract → eSignature process (fully executed document) → maintenance period → renegotiation and renewal → archival. Alternatively, individual templates can be created, and ordered chronologically, to define the stages the contract must follow during its life cycle. If individual templates are created for each stage, it provides greater flexibility in reordering the stages in the life cycle process, and even allows for the removal of a stage.
- If your company uses several types of contracts for its customers and/or vendors, you can create a single contract flow for each contract type by applying a filter, which limits the application of the contract flow to the selected contract type(s). Alternatively, individual templates can be created for each stage in the life cycle for each contract type. The individual templates can then be ordered so that they are applied in the correct chronological order, and filters can be applied so that the individual stages are applied to the appropriate contract type(s).
Flow Template Admins can use restrictions and step configurations to ensure the individual steps in a contract flow template are applied only to the intended Contract Profiles. Alternatively, Flow Template Admins can apply a filter to the entire contract flow if the same restrictions apply to all the steps in the flow.
Once a Flow Template Admin "publishes" a contract flow template, it becomes active and automatically runs whenever a user adds a new Contract Profile, or makes a contract request, which matches the restrictions, configurations, and filters defined in the template. A user can also run a contract flow for an existing Contract Profile if he/she has the Flow Admin permission.
The initial stage and first step in a contract flow displays along the top of the Contract Profile screen, alerting users to the action that needs to be taken. Once a user completes the first step, Novatus automatically displays the next step. This process continues until all the steps and all the stages in the flow have been completed.
The Contract Flow feature is similar to the Workflows feature, but it has the added advantage of advising users on the current stage of a contract, and alerting them to the next step that needs to be taken in the creation, negotiation, finalization, maintenance, renewal, or archiving of the contract.
It is recommended that Administrators review the following topics before creating a contract flow template:
Flow Template Admins can perform the following tasks associated with contract flow templates:
- View Contract Flow Templates
- Add a Contract Flow Template
- Add a Workflow to a Contract Flow Template
- Filter a Contract Flow Template
- Publish a Contract Flow Template
- Copy a Contract Flow Template
- Edit a Contract Flow Template
- Reorder Contract Flow Templates
- Inactivate and Reactivate a Flow Template
- Delete a Contract Flow Template
Flow Admins can perform the following tasks associated with a contract flow: