Contract Data That Moves The Needle For Legal
The survey focuses on contract data and highlights three key areas that legal department ops professionals find most valuable and effective. Firstly, tracking contract value is important for demonstrating the value generated and supported by the legal department in revenue-generating activities. Secondly, monitoring turnaround times helps identify bottlenecks and improve efficiency in the contract review and approval process. Accelerating speed to contract is crucial in the current market.
Lastly, tracking deviations from standard terms is essential for the legal department to mitigate risk and ensure compliance with language designed to protect the company. Overall, these key performance indicators (KPIs) help legal departments enhance their effectiveness and contribute to the organization’s success.