Reference: Strategic Sourcing Capabilities

You can view high-level feature descriptions for the capabilities in this product area.

Sourcing Contract Management

Provides the ability to create and manage sourcing contracts. The functionality supports the ability to:

Create and version contracts.

Visualize contract relationships through hierarchies.

Route contracts through an approval workflow.

Integrate with third-party electronic signature platforms.

Integrate with Workday Procurement to sync supplier contract information.

Supports the ability to manage sourcing projects. The functionality provides the ability to:

Intake sourcing requests.

Route project requests to sourcing managers.

Collaborate with stakeholders via team chat.

Track cost savings and actual spend data.

View upcoming work and plan projects based on assigned categories.

Provides the ability to manage suppliers from onboarding through performance assessments. The functionality supports:

Supplier onboarding, diversity assessments, and customizable supplier screening.

Reminders to keep supplier information up to date.

A self-service supplier portal for onboarding, events, contract negotiations, and performance reviews.

Integration with Workday Procurement to sync supplier information.

Supports the ability for sourcing managers to create and manage sourcing events and reverse auctions. The functionality provides the ability to:

Collaborate with stakeholders and suppliers.

Analyze bid scenarios for optimal supplier selection.

Integrate with Workday Procurement to sync sourcing event data.