Contract owners are responsible for tracking, managing, and maintaining contract records, ensuring key contract milestones, renewals, and compliance requirements are met.

They receive automated and custom notifications related to contract updates, key dates, and renewal reminders, ensuring contracts remain actively monitored.

The creator of a contract record is automatically assigned as a contract owner when the contract is first created. However, additional contract owners can be assigned at any time to share responsibility and improve oversight.

This guide will walk you through the process of adding, managing, and tracking contract owners.

When to Use This Feature

  • When assigning responsibility for contract tracking and compliance to ensure all key dates and obligations are met.

  • When multiple team members need access to manage or oversee a contract.

  • When ensuring automated notifications for contract expirations, renewals, or milestone deadlines are sent to the right individuals.

  • When a contract needs to be reassigned due to team changes, role adjustments, or personnel transitions.

  • When maintaining accountability by having a clear record of who is responsible for managing a contract.

Step-by-Step Guide

1. Accessing the Contract Profile Page

  • Navigate to the Main Menu and click on Contract Management.

  • Locate the contract record you want to manage using the search bar or filters.

  • Click on the contract record to open its details page.

2. Adding a Contract Owner

  • Go to the Contract Owners tab within the contract record.

  • Click the Add Contract Owner button.

  • Select the team members who should be responsible for overseeing this contract.

  • Click Save to confirm the selection.

💡 Tip: Any user with access to the contract record can add or remove contract owners, ensuring flexibility in managing responsibilities.

3. Managing Contract Owners

  • Once assigned, contract owners will appear in the Contract Owners table under the contract record.

  • This table provides visibility into who is responsible for managing the contract.

  • If responsibilities change, additional owners can be added or removed as needed.

💡 Note: Removing a contract owner does not affect previously recorded actions or approvals related to the contract.

4. Notifications & Alerts for Contract Owners

Contract owners automatically receive system-generated notifications to keep them informed. These notifications include:

  • Contract milestone updates – Alerts when key contract milestones are approaching or completed.

  • Renewal reminders – Notifications for upcoming contract renewals, ensuring timely action.

  • Compliance alerts – Reminders for key contractual obligations or compliance deadlines.

  • Custom notifications – Any manually created updates related to the contract.

Notifications are sent via email and in-system alerts, ensuring that contract owners stay informed and responsive to key updates.

Key Considerations & Best Practices

✅ Assign Multiple Owners for Oversight – Sharing responsibility ensures better tracking and accountability.

✅ Keep Contract Owners Updated – Regularly review the Contract Owners table to ensure the right individuals are assigned.

✅ Use Notifications Effectively – Contract owners receive automated alerts, so ensure they understand their role in responding to updates.

✅ Review and Adjust Ownership as Needed – Responsibilities may shift over time, so update contract owners accordingly.

✅ Ensure Contract Owners Are Actively Engaged – Owners should frequently review milestone deadlines, renewal reminders, and compliance tracking updates.

Additional Resources

📌 Related User Guides:

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