Concept: Contract Lifecycle Management Source-to-Pay Process
With Workday Strategic Sourcing, Contract Lifecycle Management (CLM), and Procurement, you can manage CLM supplier contracts throughout the contracts lifecycle and automatically create procurement contract records.
Once you create a CLM supplier contract in a Strategic Sourcing project module, Workday:
- Uses the CLM workflow to generate the CLM supplier contract document in CLM.
- Creates a direct link to the draft document in CLM that you can use to edit or redline the contract.
- Displays the CLM supplier contract status in Strategic Sourcing so that sourcing managers and stakeholders are aware of the progress in real-time.
After you complete the contract, you can send the contract to the Unified Supplier Portal in Strategic Sourcing for legal review and supplier negotiations.
When you select Procurement for Workday Source to Pay, once the CLM supplier contract is finalized in CLM, Workday generates a supplier contract record in Workday Procurement and links to this record within the CLM supplier contract.