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Contract lifecycle and requisition process

Overview

The requisition process is embedded into the contract life cycle. Requisition contracts are created and prepared by a corresponding department (including the IT department) through several stages to allow for the execution of the actual requisition process. Once the purchasing department has taken over and processed the purchase requisition, contracts are entering the execution stage. It means that cost planning is updated and terms of contract and payment processes are monitored. Monitoring the terms of contract also means that any available contract termination and renewal options or replacement/follow-on purchases are taken into consideration, depending on the respective type of contract (e.g., leasing contracts, purchase contracts).

ContractCycle.png

Matrix42 Contract Management provides the flexibility required to allow every organization to adjust the contract lifecycle to their individual requirements and internal processes. You can use the global system settings (Contracts > Settings) to define which contract statuses shall or shall not be used. Within the diagram above optional contract statuses are marked with a green rhomb.

Options include the possibility to prohibit the deletion of a created contract by enabling the Deleted status, which is not selected in the default settings. If this option is enabled, deleted contracts are assigned this status and remain stored in the system. This option supports higher audition requirements.

For more details on the Deleted status, please refer to Handling deletion in Contract Management.

Requisition process

Normally this process is started from within the asset or license management where an order is planned and prepared within the context of a stock-keeping unit or a software product. A wizard will guide you through the series of steps. It uses previously prepared requisition templates based on the material master data that is supplied by the ERP system and ensures that later the purchase requisition processing in the ERP system will run properly. Alternatively, the process may also be initiated from within contract management by creating a new contract item via the wizard.

See Requesting requisitions for stock keeping units and Requesting requisitions for software products for detailed guidance on creating requisitions.

The following picture provides an overview of the requisition process managed in Matrix42 Enterprise Service Management and based on the best practices.

RequisitionProcess.png

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