The first release of CLM reports provides information on contract cycle time. These reports' value proposition is that they will help customers gain insights and save time by identifying which contracts or contract phases should be shorter.
The CLM Suite's sidebar will contain a link to open Tableau reports called the Cycle Time Dashboard.
Once the customer opens this link, the Cycle Time Dashboard launches inside CLM. This dashboard features six widgets that can be opened by clicking the green arrow on each report thumbnail.
Average Time Spent Approving Agreements
This report shows the average time contract types spend in the Approval phase of CLM. Customers can drill down into individual contract records or grouped contract types to understand why some take longer to approve than others.
Contact Average Cycle Time by Phase
This report shows, on average, how long contract types take in phases. Customers will gain insights into where they can improve cycle time over the entire life of the contract.
Average Time to Sign Agreements
Customers can quickly understand trends with the average time to sign a contract group by contract type, enabling them to look at why the signing process is taking too much time.
Average Contract Cycle Time
The report provided a holistic view of the time it takes to complete different types of contracts, from creation to activation.
Agreements Untouched the Longest
Customers wanting action contracts not touched in a week can quickly identify individual records to get moving again.
Agreements Outstanding the Longest
This report will help customers understand how long contracts take by visualizing all phases a contract has gone through to determine how to improve cycle time for open contracts.
