Contract Reporting and Analsysis
Do you use a lot of spread sheets for tracking or reporting on your contracts? I list all my contracts, the dates, the contacts etc. It is pretty easy and seems to keep the information in neat organized rows. I use a lot of word documents. These contain more specific data about the contract. Not so neat, but that is more a reflection of my style than the information. Now I have all this important contract information in nice organized formats, and now what do I do with it?
Yes, it is one thing to collect and organize your data, it is another thing to be able to analyze it so it is meaningful to your business decisions. You want to be able to ask questions, and get answers without parsing every single word. The answer is contract managment reporting.
The true value of a contract management system is the ability to take all of the collected data, run a query, and have the resulting information presented in a clear and organized format. You want to be able to filter, sort, calculate, and disseminate the critical information about your contracts. If you cannot analyze your data, then any system is simply a repository of information, no better than having it sit in a metal file cabinet.
Contract Logix standard reports and dashboards are a quick way to see snapshots of all your contracts with one or two clicks. With the Contract Logix ad hoc reporting tool, you can create an infinite number of custom reports that will organize your data so you can analyze what all this information really means to your bottom line. Are your contracts renewing on time? Is one vendor performing better than another? Are your sales people improving? The answers will mean a lot to your business, and the only way to know is through reporting .
The next time you look at your miles of spread sheet columns looking for a single answer, think of Contract Logix contract management software. It can help turn a mountain of information into a profitable resource for your company.