How Contract Management Reports Can Improve Your CLM Process

07/14/21

CobbleStone Software explains how contract management reports can improve CLM processes.

Throughout the contract lifecycle, organizations need to keep track of an abundance of data, people, and processes related to contracts.  Searching and reporting on contract lifecycle management, financial data, budget information, contract workflow processes, contract management KPIs, departments, vendors, bids, compliance, and more with a manual process is virtually impossible - especially as contract complexity and contract volume grow.  Luckily, organizations can leverage contract management reports by using contract management software to make these processes a breeze.  Here's how contract management reports can improve CLM processes.

What Are Contract Management Reports?

Contract management reports are contract analytics tools that help organizations utilize contract data to improve contract management software processes. Contract management reports help organizations track and analyze contract task management, budget data, financial data, contract management KPIs, departments, bids, vendors, compliance, and more - all in the interest of empirically justifying and strengthening decision-making.

Does Contract Management Software Help With Searching and Reporting?

Contract management software provides the tools to maximize contract searching and reporting.  Contract management software can automate and streamline the searching and reporting of contract financial data, contract lifecycle processes, budgets, KPIs, contract management personnel, vendor and bid information, contract compliance, obligations, key dates, and more.

Here are some specifics on the benefits of contract searching and contract management reports with contract management software.

Contract Financial Data Reports

A visually engaging contract financials page should provide contract management software users with a simple yet comprehensive financial summary report for each contract.  The report should include basic contract details and key contract data at a glance, such as:

  • the sum of contract transactions.
  • the sum of contract expenses.
  • the total contract budget amount.
  • the contract budget amount remaining.
  • and the percentage of a contract budget that has been used.

CobbleStone Software's financial summary for a contract.

Organizations can configure the Budget Used field to set budget thresholds for their contracts. For example, a company can configure an alert so that a contract's owner is notified once the contract's used budget amount surpasses 80%.

In addition to reporting contract financial data for a specific contract, organizations can also run reports around contract financials of all contracts within the system.  These reports can be set to run by categories such as by counterpart, contract type, contract department, and many others.

Vendor contract financial summary in CobbleStone Software.

Organizations are encouraged to leverage these contract management software financial data reports to gain a holistic view of contract finances!

Enhanced Contract Analytics With Executive Graphical Dashboards

Leading-edge contract management software solutions offer visionary contract analytics and reporting tools to improve contract lifecycle management.  CobbleStone Contract Insight® - for instance - offers executive graphical dashboards to positively transform contract analytics.

Executive graphical dashboards that CobbleStone® users can leverage include dashboard reports for:

  • Contracts KPI.
  • Contracts Overview.
  • Counts by Department.
  • Legal.
  • Vendor Management.
  • Year Analysis.
  • Bids Overview.

CobbleStone Software Bids Overview Executive Graphical Dashboard.

Executive graphical dashboards - such as the one shown above - not only serve as one among many reasons why CobbleStone Software is the premier source-to-contract management software suite on the market, but they also streamline and simplify contract management software processes with the foremost contract management report functionality.

Contract Management Reports with CobbleStone Software

Contract management reports are paramount for contract lifecycle management software success.  Organizations must leverage CobbleStone Software's award-winning solution to enhance contract management reporting and contract analytics oversight.

CobbleStone takes a proactive approach to contract management reporting that goes beyond the standard, out-of-the-box reports.  CobbleStone's advanced contract reporting functionality supports full visibility into contractual relationships across business entities and units.  CobbleStone Contract Insight supports full contract audit trails so that organizations and their stakeholders can remain abreast of the latest document versions.  Organizations can avoid unexpected costs and breaches of contracts, evade compliance issues, decrease contract lifecycle inefficiencies, and address payment and negotiation timelines - all while proactively mitigating contract risk variables. 

Leading organizations in both the public and private sectors can enjoy a strategic approach to contract creation, contract negotiation, contract execution, and monitoring with CobbleStone Software.  They can maximize contract data to pro-actively address lost revenue, slowed payments, profitability, and compliance with in-demand CLM features provided by CobbleStone, such as:

  • user-friendly custom and ad hoc reports.
  • contract management reporting oversight of CLM benchmarks, contract management KPIs, and ROI metrics.
  • online contract management reporting collaboration, review, and sharing.
  • highly configurable custom reporting rules and user permissions oversight.
  • contract management reporting metrics for maintaining compliance standards.
  • performance tracking and custom report design tools.
  • intelligent, automated contract workflows.
  • personalized dashboards, email notifications, and calendar notifications.

Contract Management Reports & So Much More

If you are impressed with the features and functionality mentioned above, you will be excited to know that CobbleStone offers so much more than contract management reports.

CobbleStone Contract Insight offers user-friendly features of contract management software that can equip your organization to efficiently unite and secure contracts, easily collaborate, oversee compliance, keep track of costs, receive alerts and notifications, take processes into the future with VISDOM® AI and machine learning, efficiently and effectively sign with IntelliSign® electronic signature software, increase productivity, and reduce expenses.  Forrester names CobbleStone a Leader in CLM software - and it's easy to see why!

CobbleStone's long-acclaimed and seamlessly integrated contract management, vendor management, eProcurement, and eSourcing software solution has been trusted for over 20 years by organizations from around the world looking to automate contracts.  Get started today by booking your free contract management software demo.

To stay up to date on best practices, industry news, and CobbleStone Software updates, be sure to subscribe to our blog and YouTube Channel.

Download Mastering Contract Management Whitepaper by CobbleStone

Sean Heck

Written by Sean Heck

Sean Heck is Content Marketing Manager at CobbleStone Software

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