Draft, approve, sign, and manage every supplier contract in one place — with zero expiry surprises and full utilisation visibility.
Supplier contracts are the commercial foundation of every supply chain relationship. Yet most procurement teams manage contracts through a combination of shared drives, email chains, and manual reminders — leading to expired contracts, missed renewal windows, under-utilised frameworks, and compliance exposure. Proconomy's CLM workflow digitises the entire contract journey from first draft through multi-level approval, electronic signature, active execution, amendment management, and eventual renewal or expiry. Every contract is always in a known state, every obligation is tracked, and every renewal is managed proactively.
Every step is designed to eliminate manual effort, reduce errors, and give your team real-time visibility at every stage of the process.
A procurement manager creates a new contract — capturing supplier, commercial terms, pricing structure, and line-level commitments.
The contract document is uploaded or generated as a formatted PDF — capturing all agreed terms for signature.
The contract is submitted for approval through a structured 3-step chain: Legal Review → Finance Approval → CPO Sign-off.
AI summarises contract terms and flags any clauses that deviate from company policy for approver attention.
Once approved, the contract is sent for electronic signature via Dropbox Sign — supplier signs first, buyer counter-signs to complete execution.
The active contract governs all related purchase orders — utilisation is tracked in real time against committed value.
The system proactively alerts procurement teams when contracts are approaching expiry — eliminating the risk of trading without a valid agreement.
AI identifies contracts where utilisation is low relative to commitment — flagging renegotiation opportunities before renewal.
Proconomy gives every stakeholder the right view, the right tools, and the right level of access — so no one is a bottleneck and nothing falls through the cracks.
These are not theoretical benefits — they are outcomes that procurement teams experience within the first quarter of deploying this workflow on Proconomy.
Every contract — its status, utilisation, expiry date, and amendment history — visible in one place. No more hunting through shared drives.
Structured digital approval routing eliminates the email approval delays that stretch contract execution timelines from weeks to days.
Proactive 90-day alerts ensure no contract expires without a deliberate renewal or termination decision — protecting commercial continuity.
Know exactly how much of each contract's committed value has been consumed through purchase orders — enabling renegotiation with data.
Long-term supply agreements with indexed pricing and volume commitments
Long-term agreements with complex compliance clauses and annual price reviews
Project-based contracts with milestone payments and retention terms
Service and maintenance contracts with SLAs and penalty provisions
Commodity-indexed LTAs for bonding wire and substrates with forward-buy intelligence
The end-to-end procurement engine — from demand signal to supplier payment, fully automated and audit-ready.
Explore 9 steps →Turn demand signals into purchase orders automatically — before shortages happen, not after.
Explore 6 steps →Qualify, approve, and activate new suppliers in days — not weeks — with AI-powered risk assessment built in.
Explore 6 steps →Digitise the entire Part Production Approval Process — from FMEA to PSW — with zero missing submissions and full audit readiness.
Explore 6 steps →See how Proconomy transforms this workflow for your procurement team — live, with your own scenarios.