Contract Life Cycle Management Software Solution

The Vendor is required to provide LP&L contract life cycle management software solution for include:
• Provides secure, enterprise-grade CLM solution
• Supports creation, review, approval, execution, storage, reporting, and post-execution management
• Includes configurable electronic forms
• Includes automated workflows
• Supports legal, procurement, engineering, public works, finance, and field operations.
- Functional requirements
1. Contract creation, forms & document automation
• Configurable templates and clause libraries by contract category
• Dynamic, question-based electronic forms
• Conditional clause selection based on risk, value, type, project, or funding
• Export to Microsoft word with formatting preserved
• Export to pdf with formatting preserved
• Approval and review status stored with contract record
2. Workflow automation
• Multi-level approval routing
• Routing based on dollar thresholds and department rules
• Procurement compliance review
• Legal review
• Risk/insurance review
• Finance review when applicable
• Escalation triggers for overdue approvals
• Notifications for approvals, renewals, expirations, deliverables, and assignments
• Workflows configurable without custom programming
3. Collaboration & review
• Redlining, commenting, and tracked-changes editing
• Historical version retention
• Role-based access controls
• Audit trail including user, timestamp, and action
• Secure collaboration with external parties
4. Contract execution
• Electronic signatures compliant with applicable laws
• Executed versions and authentication records retained
• Supports wet signatures for final execution
• Supports multi-party execution and countersignatures
5. Repository & public-records alignment
• Centralized searchable contract repository
• Metadata captured (vendor, department, value, dates, renewals, etc.)
• Full-text search
• Retention, archival, and legal-hold controls aligned to public-records requirements
6. Obligations, renewals & risk monitoring
• Tracks deliverables, milestones, and SLAs
• Automated alerts for due dates, expirations, and renewals
• Tracks insurance and bonding requirements
• Risk indicators for high-value or unusual contracts
7. Reporting & transparency
• Dashboards and reporting for workload and contract exposure
• Reports export to excel
• Reports export to pdf
• Supports council, board, and regulatory reporting needs
8. Integration with existing systems
• Integrates or exchanges data with ERP/financial/procurement systems
• Single sign-on supported
• Outlook plug-in for attaching inbound correspondence to a matter.