3.1 SCOPE OF WORK 3.1.1 INTRODUCTION This Scope of Work (SOW) outlines the requirements and deliverables for the implementation of a Contract Lifecycle Management (CLM) tool to streamline, automate, and improve the efficiency of the contract management process across multiple departments of the University. The tool will be utilized to manage contracts from creation through expiration or renewal, providing a centralized platform for contract storage, approval workflows, compliance tracking, reporting, and analytics. It will provide appropriate metadata to allow for work-flow identification and prioritization, contract administration, and a searchable database of contracts available to all University departments. 3.1.2 OBJECTIVE. Implement a CLM tool that enables efficient: A. Contract Creation and Authoring: Automating templates, clause libraries, and customizable workflows. B. Contract Approval and Negotiation: Simplifying approval processes, reducing cycle times, and facilitating collaboration. C. Contract Execution and Storage: Digitizing signature workflows and ensuring secure, centralized storage. D. Compliance Tracking and Monitoring: Ensuring compliance with internal policies and external regulations. E. Reporting and Analytics: Providing insights into contract performance, obligations, and risks. 3.1.3 DELIVERABLES. The Vendor will deliver all of the following: A. CLM Tool Configuration 1) Configuration of the CLM system, including: a) Contract Template creation (Multiple) b) Clause libraries. c) Workflow automation. d) User roles and permissions. e) Integration with existing systems (ERP, CRM, etc.). B. System Integration and Data Migration 1) Migrate data from existing University systems. 2) Integrate the CLM tool with or into relevant systems (e.g., Peoplesoft ERP). 3) Set up all required or requested API connections for seamless data exchange. C. Contract Creation and Workflow Automation 1) Develop and customize contract creation workflows, templates, and clause libraries. 2) Implement automated approval routing, notifications, and escalations. 3) Configure collaboration tools for contract negotiation (e.g., commenting, version tracking). D. Contract Execution and E-signature 1) Enable electronic signature functionality. 2) Secure contract storage in a centralized repository. 3) Integrate audit trails and version history for accountability. E. Compliance and Risk Management 1) Configure alert systems for key milestones (renewals, expirations, compliance deadlines). 2) Set up tracking of contract obligations and milestones. 3) Develop compliance and other dashboards for real-time monitoring. F. Reporting and Analytics 1) Configure reports and dashboards for contract performance tracking. 2) Program KPIs to monitor the effectiveness of contract lifecycle management. 3) Generate custom reports on contract compliance, value, and risks.
