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The six stages of a contract lifecycle are: Contract creation. Negotiation and collaboration. Review and approval. Administration and execution. Ongoing management and renewal. Reporting and tracking.

Contract reporting is the process of collecting, analyzing, and sharing important insights from contracts. What the contract reporting process looks like will depend on the metrics your business tracks progress against, how many contracts you manage, and the resources available.

5 Insightful Reports You Need to Run on Your Contracts Contract lifecycle. Among the most essential reports to run on your portfolio are contract lifecycle reports. ... Contract performance. ... High-risk clauses. ... Lease utilization. ... Vendor utilization. ... Your contract management practices are key.

It is also commonly referred to as Contract Lifecycle Management (CLM). Examples of contract lifecycle management processes include generating contract terms, redlining, approval of any modifications to the contract terms, and e-signature capabilities.

Effective contract management reporting allows companies to identify and analyze opportunities, as well as problems, in the way they create, negotiate, approve, execute, and manage contracts. Merely gathering information about the contracting process and contract performance isn't enough.

Your reports should cover contract status, due dates, compliance or noncompliance, unexpected costs, delayed project timelines, and other important milestones.

We have discussed the first three stages of contract lifecycle management: contract request, contract authoring, and contract approval. The fourth stage of contract lifecycle management is contract execution.