Employees can easily use the custom tile view in Teams to initiate and monitor the approval workflow of your documents. The end result of this solution is an automated business process for your organization. When a member rejects a contract, the status is changed to rejected, and all members are notified through a Teams post. This process can be extended to write directly to a third-party financial application for payment. When a member approves a contract, the contract status is changed to approved, all members are notified through a Teams post, and a line item is created to show that the contract is ready for payout. By using Teams functionality, all stakeholders are notified when new contracts need to be reviewed.īy using Power Automate, contracts are moved through the approval process in the Teams channel. In Microsoft Teams, all stakeholders are members of a secure Teams channel in which all contracts in the document library are visible for approval or rejection. The following page is an example of a contract that the model is trained to identify. The model also pulls out specific data from each contract file that stakeholders are interested in seeing, such as the Client, Contractor, and Fee amount. If it finds a match, it classifies the file as a "contract" and updates the content type for the document. It checks each file to see if any match a "contract" content type it's trained to look for. A SharePoint Syntex document understanding model has been applied to the document library. Power Automate: Use flows to guide contracts through the approval process, and then to a third-party application for payment.ĭocuments are uploaded to a SharePoint document library. Microsoft Teams: Use the functionality of a Teams channel and associated tabs to allow your stakeholders to review and manage contracts. Microsoft SharePoint lists: Use the formatting available in modern SharePoint lists to present contracts in a business-friendly format. Microsoft SharePoint Syntex: Create models to identify and classify your contract files and then extract the appropriate data from them. This contract management solution guidance includes four components of Microsoft 365: Rejected contracts need to be routed for additional review. Approved contracts need to be routed to a third-party application for payment processing. Approved and rejected contracts need to be routed through a specific workflow. Stakeholders should be able to easily approve or reject incoming contracts.
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Stakeholders should be able to review the whole contract if needed, but mostly care about seeing several key fields from each contract (for example, customer name, PO number, and total cost).
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Your organization needs to set up a collaborative site in which all required stakeholders can easily review contracts. Your organization needs a reliable way to find whether contracts have been either approved or rejected, and whether payment has been processed. You need a way to identify all customer contracts from all other documents, and then classifying them as such. Some are digital assets sent through email, and some are paper assets sent through traditional mail. Your organization works with many documents, such as invoices, contracts, statements of work, and so on. For this solution, four key issues need to be addressed: The first step in planning your contract management system is to understand the problem you're trying to solve.