The six steps
- Gather contracts from email, shared drives and finance records.
- Capture renewal date, notice period, auto-renewal terms, value and counterparty.
- Assign one owner per contract.
- Set reminders at 90, 60, 30 and 7 days before the notice deadline.
- Escalate to a manager if the owner has not acted by day 60.
- Review upcoming renewals every month with finance.
What to track for each contract
- Required
- Counterparty, renewal date, notice period, owner
- Recommended
- Annual value, price increase terms, notice method
- Nice to have
- Usage data, alternatives, negotiation history
Put this into practice
Upload a few contracts and LicensorFlow will find the notice deadlines for you.