Contract Data That Moves The Needle For Legal

June 6, 2023



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.

Recent Episodes

View episode

For legal department operations professionals embarking on their journey of collecting contract data and improving business through contract data, it’s important to approach it with a crawl-walk-run mentality. In the crawl phase, focus on establishing a baseline landscape of contracting activity by analyzing contract volumes, types of templates used, business units involved, and…

View episode

Technology serves as a producer of data, and data plays a crucial role in driving change, whether it’s operational or behavioral. To achieve operational improvements, it’s essential to assess how technology adoption is enhancing efficiency. On the other hand, driving behavioral change requires leveraging data to demonstrate the value derived from implementing effective…

View episode

The introduction of new technologies with the potential to transform work processes and business transactions always garners significant investment and interest from various stakeholders, including CIOs, CTOs, sales teams, procurement departments, and the overall business.