policyIQ: Support for the Full Contract Lifecycle and Revenue Recognition Standard

Our clients helped us, early on, to recognize that policyIQ is an excellent match for their contract administration needs. Using policyIQ for Risk and Compliance, Audit, or Policies and Procedures, they realized that the features that gave them better control over the integrity of their information, more simplified access to the content, version control, workflow and reporting capabilities, and easy-to-understand-while-powerful security would also be great for management of their agreements and contracts.

Over the years, we have worked with a number of companies to help them bring automation to various areas of their contract lifecycle:


Tracking critical attributes, in combination with features like policyIQ’s Custom Alerts, makes it possible to address key business decisions and deliverables related to a company’s agreements, for example:

  • Alert Procurement Manager when a Vendor Agreement is approaching the Contract End Date (i.e. within 30 days of )
  • Alert HR Manager when a new Staffing Agreement is published (trigger to send New Hire Packet to Employee)
  • Customer Contracts
    • Alert Sales Manager when
      • Expected revenue exceeds $30,000
      • The agreement is Approaching Expiration
    • Alert Operations Manager when
      • A Milestone has not been met by our team
      • A Reporting Date is approaching

And with more urgency now that we’re already into 2015, the Revenue Recognition Standard issued in May of 2014 is leading companies to put controls and measures in place to ensure compliance with the standard.

With a few quick adjustments, policyIQ can help by providing a place to capture, track, and monitor agreements and the variables that are critical for compliance. In addition to the fields that you might already be tracking (like the start and end dates of contracts, deliverables, report dates, approval requirements and renegotiation concerns), you can ensure that you’re considering the value of services delivered at various points in time, all associate agreements that may be pertinent, whether those agreements start and end in the same year, and so on.


Have you organized your various agreements in policyIQ? Do you have questions about how to best configure policyIQ so that you can review and monitor your agreements from various perspectives? Have you updated your policyIQ configuration to better monitor critical attributes for compliance with the Revenue Recognition Standard? Reach out to the policyIQ team, support@policyIQ.com, and let us know what your pressing questions are—we’re happy to help!

policyIQ – Your Project and Process Management Tool

We recently shared tips for project managers and other leaders on developing a strong communication plan and in other posts have discussed how Custom Alerts can be used to notify employees, vendors, and other stakeholders of impending deadlines, deliverables and of milestones achieved and steps completed.


We described how the Page Expiration feature can be utilized to help keep your content up to date by reminding content owners that it is due for review. Have you considered the fact that the Page Expiration Date can be set to any date within the specified range? This is another feature that project managers and leaders can use to trigger action, such as reaching out to a vendor, upon a specified date.

We also want to draw renewed attention to the intelligence of your documentation.

This summer, we worked with a number of organizations looking to more easily get to reliable information that they need to make decisions. A client looking to more readily identify contracts approaching their expiration and those over a certain dollar amount keyed in on the value of tracking these relative attributes in policyIQ, setting up related reports, and adding those reports to their Dashboard (in Favorite Reports). Another client shared their passion for populating as much of their organizations documentation as possible in policyIQ (starting with policies and procedures, contracts, risks and controls) so that the employees who work with that information can benefit by easily tracking down information using policyIQ’s “Search” feature and then knowing that they are looking at the most up to date content.

Consider how these same features serve anyone overseeing a process or project. If you are tracking the appropriate variables in your content, you can use policyIQ’s Search and Reporting capabilities to easily source critical information in with little time or effort. Look up applications touched by a particular process, all processes touched by a particular application, employee Roles that have responsibility to a changing process or all processes that will be impacted by a changing Role. Implementing a new system? If you track “Applications Used” in all of your procedures and look up those that may be replaced or touched by the new system, it will help you to pinpoint the audience that should be included in your change management and training plan.

Depending on how you came to know us, you might think of policyIQ as an Account Reconciliation Management application, a Contract Administration tool, an online authoring and workflow management tool or a repository for policies and procedures, or a system for testing controls…the fact is, policyIQ is all of these things. It is simply a content management application. Configure it to serve you and your organization’s needs well. If you find yourself still engaging in manual work or your employees or colleagues still struggle to find, share or manage information, give us a holler and let us give you some ideas about how you can better manage your projects or processes.