One of the key benefits of digitally managed contract and matter management is the overall benefit of in-depth reporting and performance tracking that's shared with our Insights menu.
In Plexus, we have four key reports that provide a general overview of your team's performance throughout the platform including:
Usage - Highlights how contract management is being used, including rounds of negotiations and documents sent without a Review stage.
Risk and suppliers - Indicates when documents are set to renew for each counterparty.
Performance - Quantifies how long each document spends in each stage of its workflow.
Matters - Matter Management insights including business units with the most requests and assignee matter tracking.
Locating the Insights menu
The Insights menu is available only to specific users on the Platform. If you require this level of access, please arrange this via your team. To navigate to the Insights:
Step 1. Head to your main menu and select Insights.
Step 2. This will present a dropdown menu with the different Insights page reports. Select the specific Insights page you would like to view from the dropdown menu.
Note that the reporting option for matters will not show if your organisation is not utilising matter management, and if you are not a member of the Legal team.
Navigating the Insights pages
Each contract management report contains a range of graphs and data arranged into meaningful snippets for you to analyse. We'll go through these in more detail below. For each Insight, you also have the ability to add filters and export your information to an excel spreadsheet.
Depending on the report, you can add filters based off:
Document type
Organisation unit
Status
Created by
Created at
Expiry dates
Counterparty
Note that you'll only see the document types that your role has access to for reporting. Sensitive document types may not be displayed here, and therefore won't be incorporated into your reports.
Click Apply to search your parameters, or Reset to refresh your results.
Exporting information to an Excel Spreadsheet
The Usage and Risk and Suppliers reports have the option to export the displayed information into an Excel spreadsheet.
At the bottom of the filter panel, you'll have the option to Export the data to an excel spreadsheet. Click Export to download a copy of the raw data to your device. The download will take into account any of your current applied filters.
The resulting spreadsheet shows all the data that's been incorporated into the spreadsheets, so it can be a great way to sanity-check your charts.
Now that you've got the basics, let's go through each of these Insights reports in more detail. Select any of the following reports from your Insights menu and anchor through to any of the following article sections to get started:
Measuring usage
The usage report provides insights around the volumes and types of documents generated by the organisation. This report can help you to better allocate resources and understand any patterns of document generation and negotiation in the business.
This report captures a range of information including:
Documents created
All documents created in the platform across all Plexus applications
Executed documents
All documents with an Executed status across all Plexus aplications
Documents executed without review
Documents executed in Plexus without a Review stage nominated. This includes workflows with a review stage in the initial defined workflow, and workflows where documents have been declined and sent for review.
Documents sent for Review
Number of the documents in Plexus that went through the Review stage. This includes workflows with a review stage in the initial defined workflow, and workflows where documents have been declined and sent for review.
Unlike the previous definition, documents that match the Documents sent for Review definition do not need to be executed to be counted in this tile.
Versions: The number of times a new document version was created in Plexus, either via a document edit or new uploaded version. These metrics take all active and completed workflows into account.
Documents without edits
There were no new versions of these documents.
Documents with 1 new version
There were at least one new version of these documents, created by editing the document or uploading a new version.
Documents with 2 new versions
There were at least two new versions of these documents, created by editing the document or uploading a new version.
Documents with 3+ new versions
There were at least three new versions of these documents, created by editing the document or uploading a new version.
The Document Insights chart shows the number of documents generated per app. This report will scale depending on the date range selected. By default, it will show usage from the very first document uploaded to Plexus by your organisation.
Note that documents uploaded via Bulk Upload will not be included in this chart.
Monitoring risk and suppliers
The risk and suppliers report gives you a snapshot view of the revenue generated by the documents stored in Plexus. It helps you to stay informed on the financial status of major supplier relationships and any documents that are due for renewal.
Total document value
Calculates the total document value for all executed documents in Plexus. To be included in this tile, a document must have the following fields:
Document value
An executed document status
Working document value
Calculates the total value of all documents with workflows in progress, where a document value is stated. To be included in this tile, a document must have the following fields:
Document value
A document status that is not executed
Documents renewing in 6 months
Calculates the total value of all executed documents with an expiry date occurring in the next 6 months. To be included in this tile, a document must have the following fields:
Document value
An expiry date within the next year
An executed status
Document value by counterparty
Calculates the total value of all documents with a particular counterparty. To be included in this tile, a document must have the following fields:
Document value
Counterparty
Value of expiring documents by month
Calculates the total value of all executed agreements expiring per month. To be included in this tile, a document must have the following fields:
Document value
Expiry date
Executed status
Measuring team performance
The performance report is a time-based report that provides insight into how long it takes key stakeholders to move a document through the different stages of the workflow.
You can use this report to understand the average time taken for the team to:
Complete the cycle for document from submission to a finished state
Author a document
Review a document
Approve a document
Sign a document
Average contract cycle time
The average time for a document to reach a final state, like completed or executed. Cycle time is also shown as a graph over a selected time period.
Average time to author
The average time to fill out the Plexus intake form for a given app. The measurement starts from opening a Plexus app to clicking the submit button on the intake form.
Average time to review
The average time from clicking Mark in review to Accepting review of the document. The count restarts each time a document is sent back to Review.
Average time to approve
The average time taken to approve, starting from when the approver is notified.
Average time to sign
The average time taken to sign documents starting from when each signer is notified.
Measuring performance on matters
Performance insights for matters are available where your team is using the Matter Management module. Insights for this module are covered in this help article.
Have a question? Reach out to our team via live chat or [email protected].