Contracts form the foundation of all business transactions with most large companies depending on thousands of contracts every year. These contracts hold all key data of business terms agreed between two parties including payments, terms of work, obligations, deadlines, renewals and the regulatory compliance they are governed by. With so much important data hidden in contracts, quick, accurate answers to key contract management questions become a fine line that can turn your business from performing just fine to becoming exceptional.
Here’s where the need for dynamic dashboards arises. It is a one-stop shop to view all key data of your contracts in a simple, readable format. It provides a quick comprehensive overview of contract information ranging from upcoming deadlines, compliance percentage, renewals, analytics, etc. pulled from various platforms and resources. The need for a centrally located, integrated, customizable dynamic dashboard is rapidly increasing with companies expanding across geographies and teams and departments spread across regions.
Here’s a look into how Ultria’s dynamic dashboards make contracts more accessible, strategic, and statistically sound documents:
1. Real-time visibility
Dynamic dashboards, integrated with multiple platforms across the organization, extract key contract data from across departments and displays it in a graphical, easily readable format, centrally. With its ability to collect and update information real-time, people accessing the data are assured relevant, current information to act upon instantly and ensure there are no delays in any contracts related actionable items.
2. Performance Management
Contract monitoring starts in full swing once the contract is signed and sealed. Tracking contract performance post-award to ensure contract value generation and risk mitigation is made easy with the advanced dashboards. These give a window into contract utilization and performance by showcasing all key contract performance indicators in a single screen. Moreover, with smart analytics, contracts can be used to understand performance patterns, predict how certain contracts will perform based on historic data and analyze company performance on basis of multiple reports and statistical graphs.
3. Obligations Management
Stay on top of contracts with comprehensive obligation management capabilities easily trackable through dashboards. Track and enforce penalty clauses, identify cross-sell and up-sell opportunities easily and get alerted of any approaching deadlines. Monitor contract performance and obligations through pre-configured milestones achievements visible on your dashboards, amend the contract path to rectify any non-compliance, and stay in complete control of all contract obligations.
4. Renewal management
Increase visibility into contracts and their expiry/ renewal dates with dynamic dashboards. Any nearing deadlines are promptly highlighted on the dashboard with alerts/ triggers sent to the right stakeholders for quick turn-around. You can also generate reports to track renewals and export them to a format of your choice. With seamless integrations, all approaching expiry/renewal dates get reflected on the Salesforce and other CRM, ERP platforms as well. This ensures that these deadlines don’t go unattended and result in penalties.
5. Omni-channel access
Now you can access all key contract information anywhere, anytime and from any device with dynamic dashboards! Ultria’s dashboards can be accessed remotely giving you the independence and flexibility to be on top of your contracts at your convenience. You have to no more depend on your office desktop or laptop to view and analyze contracts. This ensures there are no delays and bottlenecks due to lack of accessibility resulting in better, faster and more accurate contract management.
Easily readable contract data, informative graphs and charts, comprehensive view of all milestones, deadlines, and compliance, real-time updates and quick report generation all through a single, unified, customized platform. That’s Ultria CLM Dashboards for you! The future of contracts is here, and dynamic dashboards are a key to unlocking it!