Legal and procurement teams are often inundated with contract requests, and it can be challenging to review every agreement in a timely manner. Creating checklists for key stakeholders in the vendor process provides transparency, creates consistency in review, and speeds up the review process to help deals close faster.

Simplifying your processes and setting clear guidelines can work wonders for reducing chaos and making teamwork effortless. Consider it a farewell to constant misunderstandings and repetitive questions. Instead, you’ll have more time to focus on what really matters—getting things done efficiently and effectively. Are you ready to empower your teams and optimize your vendor management process to keep deals moving quickly? Let’s get started with a business requester checklist.

Business Requester Checklist

Creating a business requester checklist for the requester to review before submitting to legal and procurement helps reduce back and forth on key business information often included in a contract. You don’t want to slow down a deal by asking the vendor to update your company name if everything else is ready. Here are four key items for your business requester to confirm in the contract before submitting to legal or procurement for review. 

1. Company Name: Does the name listed on the agreement match the name of the legal entity signing? 
2. Company Address: Ensure the correct address is listed. If your company has multiple entities, make sure that the address matches the entity that will be signing. 
3. Contact Details: Is the right contact information listed on the order form? 
   1. Purchasing Contact (name and email address)
   2. Accounts Payable Contact (name and email address)
   3. Legal Contact (name and email address), if applicable 
4. Products and Pricing: The business requester should check the products and pricing listed to ensure they align with the conversations with the vendor. If it doesn’t, they should contact us to discuss and get an updated order form as needed. 

"Procurement teams need to be in the loop on contract progress. With LinkSquares' centralized CLM software, updates happen in real time and in one place, so I'm always in the know."

– Sunil Berry, Sr. Director, Finance and Strategy, LinkSquares

Effective vendor contract management is more than dotting i's and crossing t's—it's about crafting a seamless process that aligns with your business's strategic goals. By utilizing a comprehensive procurement checklist, you'll be well on your way to transforming chaos into clarity.

How LinkSquares Can Help

With high-volume contracting, get ready to turn manual processes into a smooth operation by collaborating with legal and keeping your time and patience intact. With LinkSquares, partnering has never been easier.

Ready to take your vendor management to the next level? Connect with our team today and discover how we can help streamline your processes and reduce inefficiencies. Your procurement success story starts here.