Concept: Strategic Sourcing Contracts

You can manage contracts throughout the contract lifecycle. You can also set up approval workflows for contracts that display progress and status.

Workday Strategic Sourcing enables you to:

Create new contracts and templates.

Track contract negotiations with your supplier.

Add start and end dates.

Assign milestones.

Add stakeholders.

Change contract status.

Strategic Sourcing provides 4 contract types that you can customize:

Contract Amendments

Master Service Agreements

Non-Disclosure Agreements

Statement of Work

You can create and customize contract types to fit your business needs.

Contract Statuses

The status indicates where the contract is in the lifecycle. You can assign 1 of these statuses:

Status	Description
In Progress	Applies to open contracts. You can configure the In Progress statuses from Settings .
Approved	A contract moves to Approved once all approval groups approve it and you complete all required custom fields. When you designate a contract as evergreen, you don't have to approve the contract for renewal.
Active	Contracts within the start date and end date are Active . When a contract meets the start date condition, Strategic Sourcing automatically moves contracts from Approved to Active .
Expired	Applies to contracts that pass the signed contract end date and don't automatically renew.
Terminated	You can only terminate Active contracts.
Canceled	You can cancel contracts that have never been Active and are now inapplicable.
Archived	Applies to a completed revision record. Original contracts can’t be Archived .

Contracts Dashboard

The contracts dashboard displays contracts that need work, organized in tabs based on status.

You can also access all active contracts through supplier profiles in the

Supplier Directory

You can create filters to specify which contracts display and share those filters with other sourcing managers. You can also access a list of upcoming milestones on the contracts dashboard.

You can't add columns to contracts displayed in the

Request

tab.

Milestones

Milestones help you break up a contract into smaller components. You can add custom milestones to a contract and assign it to a user with a due date. You can assign these statuses to milestones:

Open

Needs Attention

Complete

Contract Templates

You can store contract documents for later use in Strategic Sourcing by selecting

Contract Templates

on the

Templates

menu.

You can use the

Add Contract Template

button on the Contract Templates
tab to upload documents to create your new templates. You can also upload new documents to the templates to create new versions.