College Gets Smarter with Symfact Contract Management

Posted on
Author Symfact
Categories Case Studies

Customer

NorQuest College is a community college located in Edmonton, Canada and serves over 11,000 students annually throughout the province in full-time, part-time, distance learning, and regional programs. NorQuest College helps learners with diverse educational backgrounds complete or further their studies through foundational and continuing education programs. Their post- secondary diploma and certificate programs offer career paths in health, community studies, and business. NorQuest College provides access to adult education in Edmonton and the surrounding region for 26 communities. The College’s post-secondary diploma and certificate programs offer career paths in health, community studies and business. NorQuest College also provides educational opportunities at the times, places and delivery formats that best meet learner needs.

 

Business Challenge

The College administers manual contract management workflow processes within a prescribed college-wide Contract Management Framework. This framework helps to ensure that each contract or agreement entered into by NorQuest College complies with all applicable policies and procedures; legal and fiscal obligations; mitigates risk; satisfies insurance requirements; and provides value for money spent. Due to the growth of the College and the increased demand for financial and operational controls the College determined that a modern, automated tool would be required to effectively manage the full contract lifecycle process in a more efficient and effective manner. Additionally, the College needed to ensure that there was centralized control over the process to ensure their contract policies and procedures are strictly adhered to, but yet deliver decentralized access to the user departments.

 

Solution

The deployed solution needed to bring a centralized repository of clauses, templates, contracts, and other business artifacts. The ability for the user departments to begin the process of identifying the need for a contract (via an electronic Request), route this through the requisite assembly (Authoring), and the formal approval process (via automated workflow). The financial control policies will govern the approval workflow to ensure compliance with corporate policies.
NorQuest selected Symfact’s Contract Lifecycle Management tool due to its ability to deliver on these functional items with a cost-effective, tailored solution:

  • Contract templates that can be assembled from a library of corporately approved clauses.
  • Automatic updating/versioning of Template Library when clauses are updated and approved by Legal.
  • Highly configurable contract meta-data—based on the Contract Type—to only display relevant data fields to ensure high user adoption.
  • Recording of negotiated rates and quantities for the goods and services to ensure the Finance Department can validate payments with the contract terms.
  • Options to create and author the contract using either a corporate template or a third-party document and ensure that all relevant versions are maintained for audit purposes.
  • A library of workflow packages that can be fully managed by non-technical Administrators.
  • Alerts and Notifications for all aspects of the contract lifecycle including budgetary controls, compliance management, version control over contract terms and conditions, insurance tracking, etc.
  • Robust and user-friendly reporting tools to ensure novice users can quickly assemble queries, reports, and dashboards.
  • Centrally defined role-based security that is tied to the specific organizational structure to ensure those who need access to information are given the necessary permissions and that confidential data is treated accordingly.
  • Integration to PeopleSoft’ Human Capital Management module and the Financial Services module.
  • Loading of the organization’s legacy contracts.

 


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