--- title: How Contract Analytics Promotes Data-Driven Decision-Making description: When it comes to making crucial business decisions, guesstimating is not a solid strategy for success. That’s why contract analytics are an essential asset for data-driven legal teams. image: https://blog.linksquares.com/hubfs/How%20Contract%20Analytics%20Promotes%20Data-Driven%20Decision-Making%20-%20Copy%20of%20Cockpit%20counsel%20blog%20-%20Blog_Thumbnail.png --- [Skip to content](https://blog.linksquares.com/how-contract-analytics-promotes-data-driven-decision-making#main-content) [LinkSquares](https://blog.linksquares.com/) Open Mobile Menu [LinkSquares](https://linksquares.com/) Close Mobile Menu [Why LinkSquares](https://linksquares.com/why-linksquares/) [Products](https://linksquares.com/products/) --- [The LinkSquares Cloud One platform for all your in-house legal needs](https://linksquares.com/products/linksquares-cloud/) --- Contract Lifecycle Management Create, review, manage and sign contracts Legal Project Management Centralize your work and keep projects moving Cross-product capabilities Get scalability, efficiency and connectivity LinkSquares Onboarding Experience A step by step guide to get started today --- [Solutions](https://linksquares.com/solutions/) [Customer Stories](https://linksquares.com/customers/) Resources Content [LinkSquares+ Content curated for in-house leaders](https://linksquares.com/plus/) [The Library](https://linksquares.com/library/) In the studio [Demo Library](https://linksquares.com/demo-library/) Community & Events [Customer Stories](https://linksquares.com/customers/) [Events & Webinars](https://linksquares.com/events/) Learning [Blog](https://blog.linksquares.com/) [In-House Insights](https://linksquares.com/inhouse-insights/) [Knowledge Base](https://help.linksquares.com/) [Events](https://linksquares.com/events/) [About Us](https://linksquares.com/about-us/) [Careers](https://linksquares.com/careers/) [Press](https://blog.linksquares.com/tag/linksquares-news-press) [Pricing](https://linksquares.com/pricing/) [Request a demo](https://linksquares.com/demo-request/) Back Close Mobile Menu [Contract Lifecycle Management](https://linksquares.com/products/) [Finalize Streamline your contract creation process](https://linksquares.com/products/finalize/) [Sign Get your contracts executed faster](https://linksquares.com/products/sign/) [Analyze Your post-signature analytics & repository](https://linksquares.com/products/analyze/) [CLM Suite One platform to rule them all](https://linksquares.com/products/) [Request a demo](https://linksquares.com/demo-request/) Back Close Mobile Menu [Legal Project Management](https://linksquares.com/products/) [Prioritize Manage, track, and report on legal work in one place](https://linksquares.com/products/prioritize/) [Request a demo](https://linksquares.com/demo-request/) Back Close Mobile Menu [Cross-product capabilities](https://linksquares.com/products/) [LinkAI Predictive and generative AI](https://linksquares.com/products/analyze/features/ai/) [Integrations Connect the tools you love](https://linksquares.com/integrations/) [Reporting Improve your teams efficiency with KPIs](https://linksquares.com/products/analyze/features/dashboard/) [API Integrate with any third-party app](https://linksquares.com/integrations/linksquares-api/) [Request a demo](https://linksquares.com/demo-request/) Back Close Mobile Menu [Cross-product capabilities](https://linksquares.com/products/) [Onboarding We're here for you from day one](https://linksquares.com/onboarding-services/) [Services Short on time? 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[Learn more](https://linksquares.com/agentic-ai/) Contract Lifecycle Management Create, review, manage and sign contracts Legal Project Management Centralize your work and keep projects moving Unified Capabilities Get scalability, efficiency and connectivity LinkSquares Onboarding Experience A step by step guide to get started quickly [Finalize Streamline your contract creation process](https://linksquares.com/products/finalize/) [Sign Get your contracts executed faster](https://linksquares.com/products/sign/) [Analyze Your post-signature analytics & repository](https://linksquares.com/products/analyze/) [CLM Suite One platform to rule them all](https://linksquares.com/products/) [Prioritize Manage, track, and report on legal work in one place](https://linksquares.com/products/prioritize/) [LinkAI Predictive and generative AI](https://linksquares.com/ai/) [Agentic AI Smarter contracting with a multi-agent approach](https://linksquares.com/agentic-ai/) [Integrations Connect the tools you love](https://linksquares.com/integrations/) [Reporting Improve your teams efficiency with KPIs](https://linksquares.com/products/analyze/features/dashboard/) [API Integrate with any third-party app](https://linksquares.com/integrations/linksquares-api/) [Onboarding We're here for you from day one](https://linksquares.com/onboarding-services/) [Services Short on time? 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This is a great opportunity to solidify legal’s reputation as the competent problem-solvers they are. Then, when the CEO asks for data on contract revenue within existing territories over the last 2 fiscal years, or contract value up for renewal this quarter, you aren’t prepared. It’s not that you couldn’t find that information within your contracts — it’s that it would take a few weeks to prepare. Until then, you have to make an educated guess.  When it comes to making crucial business decisions, guesstimating is not a solid strategy for success. That’s why contract analytics are an essential asset for data-driven legal teams. Contract analytics give legal teams insight into their contracts and help them unearth business insight that scaling teams need to make more strategic decisions.  Whether it’s proving legal feedback or identifying at-risk contracts, contract analytics help legal teams make data-driven decisions that drive the business forward. Here are some of the ways contract analytics promote data-driven decision-making: ## Prove Legal Value Without contract analytics, a lot of legal’s value is invisible. In addition to executing contracts as quickly as possible, legal handles every single contract in the business while also managing litigation, compliance, and other legal matters. The lack of legal troubles is proof of legal value, but that value is hard to quantify and can be taken for granted. Contract analytics enable legal to both measure and prove their impact on the business. Using contract data, legal teams can demonstrate how many contracts they work on in a quarter, how quickly they execute those contracts, and the value of the agreements. Then, they can quickly generate reports that visualize this data and showcase their value to the entire business. ## Make Smarter Hiring Decisions Contract data can also help legal teams advocate for more headcount. Most legal teams operate lean, and while [Contract Lifecycle Management (CLM)](https://blog.linksquares.com/what-is-clm) helps them shoulder some of the more tedious parts of their workload, there’s no replacement for in-house legal talent as a company scales.  Contract analytics will help you make the case for expanding your team. For example, contract analytics provide metrics that indicate how much your contract volume has increased over time and how an increase in headcount will help you execute contracts more quickly. These metrics indicate not only which contracts are most common to your business, but also whether you need generalists or specialists to handle the increase in volume. [![evaluate clm ](https://no-cache.hubspot.com/cta/default/6934676/a2daf65f-e39e-451a-a0f5-e6a3a2b25d05.png)](https://cta-redirect.hubspot.com/cta/redirect/6934676/a2daf65f-e39e-451a-a0f5-e6a3a2b25d05) ## Understand Churn and Identify “At-Risk” Contracts With better visibility into executed contracts, legal teams can collaborate with customer success  teams to understand churn and identify at-risk customer contracts. Using the dashboards and reporting functions within your CLM, you can also run reports on contracts that churned and gain insight into potential causes. Using contract analytics to identify trends in churn — e.g. common process errors, clauses, or contract types — helps you prevent it in the future. Plus, it helps you to report on contracts that are at risk for churn and strategize with CS and sales to improve contract performance and get ahead of renewals. ## Takeaways Contract analytics promote data-driven decision-making and enable legal teams to prove their value to the organization. See how CLM can help your team generate insights from your contract data. [Request a demo](https://go.linksquares.com/demo-request) today.     För att ta reda på detta genom viagra bieffekter att fylla i ett kort. Sannolikheten för att du skulle uppleva några av följande [medsapotek.com](https://medsapotek.com/kopa-levitra-online-receptfritt/) biverkningar ska du viagra bieffekter alltid. ![avatar](https://blog.linksquares.com/hs-fs/hubfs/Screenshot%202023-05-09%20at%2012.05.18%20PM.png?width=290&name=Screenshot%202023-05-09%20at%2012.05.18%20PM.png) #### [Christina Sullivan](https://blog.linksquares.com/author/christina-sullivan) Christina Sullivan is a Content Marketing Manager at LinkSquares. ## Subscribe to the LinkSquares Blog Stay up to date on best practices for GCs and legal teams, current events, legal tech, and more. ## Related Articles ### [Christina Sullivan Jul 24, 2023 7 min read 3 Red Flags That Your Contract Management Processes Are Inefficient If you store your agreements in a spreadsheet that you expect your team to update regularly and have a dedicated folder where ... Start Reading](https://blog.linksquares.com/3-red-flags-that-your-contract-management-processes-are-inefficient) ### [Christina Sullivan Jul 17, 2023 6 min read How to Streamline Tasks, Reduce Stress, and Prioritize Yourself Lawyers are the protectors of the business. They ensure that the company and each function within it have what they need to ... Start Reading](https://blog.linksquares.com/how-to-streamline-tasks-reduce-stress-and-prioritize-yourself) ### [LinkSquares Team Jun 29, 2023 7 min read Due Diligence: Boxes to Check Before Signing a Contract According to Wikipedia, “due diligence” is an investigation of a person or business prior to signing a contract. But this ... 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That’s why contract analytics are an essential asset for data-driven legal teams.", "author" : { "@type" : "Person", "name" : "Christina Sullivan" }, "dateModified" : "2023-07-21T13:00:02Z", "datePublished" : "2023-07-21T13:00:00Z", "headline" : "How Contract Analytics Promotes Data-Driven Decision-Making", "image" : "https://6934676.fs1.hubspotusercontent-na1.net/hubfs/6934676/How%20Contract%20Analytics%20Promotes%20Data-Driven%20Decision-Making%20-%20Copy%20of%20Cockpit%20counsel%20blog%20-%20Blog_Thumbnail.png", "inLanguage" : "en", "keywords" : "[Contract Management, In-house Best Practices]", "mainEntityOfPage" : { "@type" : "WebPage" }, "name" : "How Contract Analytics Promotes Data-Driven Decision-Making", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://6934676.fs1.hubspotusercontent-na1.net/hubfs/6934676/Navigation/logo_643dd1b1.svg" }, "name" : "LinkSquares" }, "text" : "Imagine your company is raising a funding round to expand the business and scale the go-to-market strategy. This is a great opportunity to solidify legal’s reputation as the competent problem-solvers they are. Then, when the CEO asks for data on contract revenue within existing territories over the last 2 fiscal years, or contract value up for renewal this quarter, you aren’t prepared. It’s not that you couldn’t find that information within your contracts — it’s that it would take a few weeks to prepare. Until then, you have to make an educated guess. When it comes to making crucial business decisions, guesstimating is not a solid strategy for success. That’s why contract analytics are an essential asset for data-driven legal teams. Contract analytics give legal teams insight into their contracts and help them unearth business insight that scaling teams need to make more strategic decisions. Whether it’s proving legal feedback or identifying at-risk contracts, contract analytics help legal teams make data-driven decisions that drive the business forward. Here are some of the ways contract analytics promote data-driven decision-making: Prove Legal Value Without contract analytics, a lot of legal’s value is invisible. In addition to executing contracts as quickly as possible, legal handles every single contract in the business while also managing litigation, compliance, and other legal matters. The lack of legal troubles is proof of legal value, but that value is hard to quantify and can be taken for granted. Contract analytics enable legal to both measure and prove their impact on the business. Using contract data, legal teams can demonstrate how many contracts they work on in a quarter, how quickly they execute those contracts, and the value of the agreements. Then, they can quickly generate reports that visualize this data and showcase their value to the entire business. Make Smarter Hiring Decisions Contract data can also help legal teams advocate for more headcount. Most legal teams operate lean, and while Contract Lifecycle Management (CLM) helps them shoulder some of the more tedious parts of their workload, there’s no replacement for in-house legal talent as a company scales. Contract analytics will help you make the case for expanding your team. For example, contract analytics provide metrics that indicate how much your contract volume has increased over time and how an increase in headcount will help you execute contracts more quickly. These metrics indicate not only which contracts are most common to your business, but also whether you need generalists or specialists to handle the increase in volume. Understand Churn and Identify “At-Risk” Contracts With better visibility into executed contracts, legal teams can collaborate with customer success teams to understand churn and identify at-risk customer contracts. Using the dashboards and reporting functions within your CLM, you can also run reports on contracts that churned and gain insight into potential causes. Using contract analytics to identify trends in churn — e.g. common process errors, clauses, or contract types — helps you prevent it in the future. Plus, it helps you to report on contracts that are at risk for churn and strategize with CS and sales to improve contract performance and get ahead of renewals. Takeaways Contract analytics promote data-driven decision-making and enable legal teams to prove their value to the organization. See how CLM can help your team generate insights from your contract data. Request a demo today. För att ta reda på detta genom viagra bieffekter att fylla i ett kort. Sannolikheten för att du skulle uppleva några av följande medsapotek.com biverkningar ska du viagra bieffekter alltid.", "url" : "https://blog.linksquares.com/how-contract-analytics-promotes-data-driven-decision-making", "wordCount" : "868" } ```