Contract Renewal Workflow

Why should we automate contract renewal decisions instead of tracking them in spreadsheets?

Spreadsheets rely on manual monitoring of expiry dates and ad hoc email chains for approvals, which creates risk of missed deadlines and inconsistent review standards. This workflow enforces a structured status progression—Open, Under Review, Pending Approval—so every contract follows the same governed path. It also automatically routes approvals and notifications, removing the need for someone to chase sign-off manually.

What is the ROI of using this workflow over manual contract management?

The main ROI comes from reduced administrative time spent tracking renewal status and chasing approvers, plus fewer costly lapses caused by missed renewal windows. Because the template publishes and runs immediately inside assess.one, teams see time savings from day one rather than after a lengthy rollout. The structured audit trail also reduces time spent preparing for compliance or vendor audits.

How long does it take to implement this workflow?

There is no implementation project in the traditional sense—the template is ready to use and publishes live in seconds. Once published, your team can start creating contract renewal records and running the process immediately. Any customisation of steps or approval logic is done directly in assess.one before or after publishing, without external development work.

Can we customise the commercial and legal approval steps for our organisation?

Yes, the approval steps, approver roles, and routing logic can all be adjusted directly within assess.one. For example, you can add additional approval tiers, change who is notified at Pending Commercial Approval or Pending Legal Approval, or adjust the criteria that trigger a rejection path. These changes are configured in the platform interface without needing developer involvement.

Who should have access to this workflow?

Typical users include contract owners, commercial approvers, and legal reviewers, each interacting with the workflow at their relevant stage. Access and permissions for each role are set up in assess.one, so commercial approvers only see steps like Request Commercial Approval while legal reviewers see the legal approval stage. This keeps sensitive contract review information restricted to the appropriate people.

What happens if a contract is rejected during review or approval?

If the renewal decision routes to rejection at any point, the workflow sets the status to Rejected and automatically notifies the contract owner. This ensures the owner is informed promptly rather than discovering the outcome informally, and the rejection is recorded as part of the contract's audit history. No further action is required manually to close out the decision communication.

How does the termination path differ from the renewal path?

If the renewal decision leads to termination, the workflow records the termination reason, sets the contract status to Terminated, and hands off to the termination process rather than proceeding to commercial or legal approval. The contract owner is then notified of the termination outcome, mirroring the notification structure used for approvals. This keeps both outcomes—renewal and termination—governed by the same consistent, traceable process.

Does this workflow support compliance and audit requirements?

Yes, every status change—from Open through Under Review, Pending Approval, and final outcome—is recorded within assess.one, creating a timestamped history of the decision process. This is useful for internal audits, regulatory reviews, or disputes over contract terms, since the full review and approval trail is retained. Legal and commercial approval steps are explicitly separated, supporting clear accountability for each decision.

What triggers the move from review to a renewal decision?

After the Review Performance and Risk step and the Set Status to Under Review step, the workflow routes based on the renewal decision made by the reviewer. This routing step determines whether the contract proceeds toward commercial approval or is directed toward termination. The logic for this routing can be customised in assess.one to reflect your organisation's specific renewal criteria.