Understanding renewal stages

Overview

Renewal stages in Spendflo track the lifecycle of a contract renewal, from the "Not Started" phase to "Completed" or "Will Not Renew." Each contract moves through various stages, giving visibility into its renewal status, whether it’s under review, approved for renewal, or set for termination. This system ensures that no contract renewal is overlooked, and appropriate actions are taken at each stage, making it easier to coordinate renewals with stakeholders.

Here are the stages available for renewal management within the Spendflo platform:

Stage	Description
Not Started	The renewal process has not yet begun. No action has been initiated, and the contract is in its active phase.
In Progress	A request has been placed and the renewal process is currently underway. Actions such as negotiations or approvals are ongoing.
Alerted	The contract owner has been notified that the renewal window has started, and action is required soon.
Will Not Renew	The decision has been made to not renew the contract. No further renewal actions will be taken.
Completed	The renewal process has been successfully completed, and the contract has either been renewed or closed.

Note: If configured, reminders and escalations will continue to be sent for contracts in the Alerted stage until action is taken.

Key Benefits

Clear Progress Tracking: Easily monitor the status of each contract renewal.

Visibility: Know exactly where each contract is in the renewal process.

Actionable Stages: Trigger actions based on renewal stage, such as starting negotiations or marking for termination.

Prevent Oversight: Ensure renewals are addressed on time.

For more details on the renewal calendar view, read here.