For many businesses, their contract portfolios likely contain various types of agreements. Larger enterprises may have the resources to employ separate teams to oversee distinct categories, but smaller businesses probably have a much smaller team handling the entire portfolio. In either scenario, there will be times when certain batches of agreements need to be analyzed. As a result, it is very important to invest in and utilize practical contract management software that offers customizable report creation. With the right business solution, here is how to create custom contract reports in under 7 minutes:
Identify the Analysis Parameters
The first step to take prior to creating a report is to identify the parameters the team wishes to analyze. Report generation tools should have drop down menus that allow users to select among various options, such as the document name, type of agreement, or perhaps a special tag that is used to identify certain kinds of agreements. Choosing the parameters will be quick and easy with a practical solution that has quick pick options.
Choose the Applicable Filters
Once the initial parameters have been established, such as a report on all current licensing agreements, there should be an option to choose additional, applicable filters. For example, if the goal is to review licensing agreements with an upcoming renewal date or those that cost a certain amount of money, there should be additional filters to further refine the results of the report generated. Of course, these filters should not be limited to just one or two options, rather there should be multiple filters available given the broad range of contracts that exist.
Restrict by Specific Dates or Timeframes
There are always important dates and timeframes associated with contracts. Thus, creating a report that is restricted to specific begin or end dates or perhaps contracts of a certain duration will likely be necessary. The date aspect of the report may serve as an initial filter or be an add on column for the report.
Add Other Relevant Columns
In addition to selecting items such as agreement name, end date, and any pertinent tag associated with an agreement, it may be necessary to continue adding columns, depending on how detailed the report needs to be. Given that the point is to create custom contracts, it is important to use a contract management solution that is purpose-built for the complexity of contracting.
Name, Save, and Share the Report
Once all pertinent filters have been selected, a quick click should generate the report, which can be viewed as a spreadsheet, in Excel, or perhaps a CSV file. Of course, naming it, saving it, and/or sharing it with the appropriate parties will also be easy with a solution that has an online platform.
This may seem like a series of steps that will require a bit of thought, but solid solutions have been designed with the contract management professional in mind, and thus developed in a way that this can be achieved in under 7 minutes.