Wrike’s contract management template is customized to manage all stages of a typical contract life cycle, from the request through approvals to renewals. Manage contracts and their related appendices in a centralized data repository. A unified process replaces haphazard manual tracking with automated accountability.
Consider this template a checklist for managing all your contracts, whether requests come in from your team or other departments. Let’s review how it works.
Step 1: New incoming contract requests
New contract requests get submitted using the ‘Contract Request’ form. The requester fills out the client name, contract subject, requirements, length, estimated contract value, date submitted, and preferred draft completion date so your team has the necessary detail to get the contract process started.
Once the form is submitted, a project is created in the ‘New Contract Requests’ folder. Answers from the request form auto-populate the custom fields and descriptions within the new project so all pertinent details are in one place.
Within the created project are six steps listed as tasks for completing the contract: preparation, draft, internal review, legal review, signing, and pre-renewal outreach. It’s best that you complete each task in order so that no detail, review, or approval gets missed along the way. Once you’ve completed every stage, you can cross-tag tasks to the ‘Active Contracts’ folder for easier organization. Note: All tasks will have the default Wrike workflow.
Projects use the included custom workflow and can be used to signify status updates.