Contract Creation Approval
Workflows ensure that contracts are properly reviewed and authorized before being created or signed, enhancing compliance and efficiency.
Setting up contract creation approvals involves establishing single or multi-level approval rules for generating new contracts. This ensures that contracts can only be created or edited after the designated approvers have granted approval.
Steps to Set Up Contract Creation Approval:
Access Settings
Navigate to the "Settings" menu.
Select "Contract Creation Approval."
View Existing Approvals
You will see a list of all existing contract creation approvals for different contract templates.
Users can switch approvals on or off using the toggle button. Editing or duplicating existing approvals is also possible.
Add New Approval Workflow
Click "Add Editor Approval" to create a new approval workflow.
Select Template
Choose the contract template for which you want to establish the approval workflow.
Activate Approval Toggle
Enable the "Block Edit Contract until Approvals Workflow is completed" toggle switch. This will prevent the initiating user from editing the contract until it is approved.
Assign Approvers
Assign approvers, with the option to designate single or multiple users for the first level of approval.
Choose "All" or "Either":
All: All assigned approvers must approve the contract to proceed.
Either: Any one of the assigned approvers can approve the contract to proceed.
Add Multiple Approval Levels (Optional)
Add additional approval levels as needed.
Toggle "This level can be skipped?" on or off. If on, the approval can skip to the next level if an approver above has already approved. If off, approvals must follow the created levels.
Set Reminders
Configure reminders to notify approvers of pending approvals.
Submit Workflow
Submit the configured workflow for implementation.
Enable Workflow
From the contract creation approval settings, enable the newly created workflow.
Summary
By following these detailed steps, you can effectively set up contract creation and signing approval workflows. This ensures a streamlined, compliant, and efficient contract management process, keeping all stakeholders informed and maintaining high standards of governance within your organization.