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One of the most effective ways to keep track of contracts is to use a contract management system (CMS), which is a software tool that helps you store, organize, access, and update contracts. A CMS can also automate tasks such as reminders, notifications, approvals, and reporting.

How to format an Excel spreadsheet to look professional. Align text left or right. It's tempting to center the text in some cells, particularly those that serve as headers. ... Leave the first row and column empty. ... Remove cell borders. ... Limit colors in your Excel spreadsheet. ... Share your Excel spreadsheets as PDF files.

For this purpose, you can set up a special tab or sheet dedicated exclusively to contract tracking. You'll probably want to set specific columns for important information such as the date of the contract, its expiration date, any renewal options, and perhaps even details about the parties involved.

Create separate columns for key contract information such as contract number, parties involved, effective date, expiration date, obligations, and other relevant details. You can also use separate sheets or tabs within the Excel file to organize all your contracts in different categories.

Google Sheets offers simultaneous collaboration, which means multiple people from different locations can edit the spreadsheet with information updated in real time. While collaboration is one of its biggest perks, Google Sheets offers the day-to-day functionality that users typically need.

5 Tips for Effectively Tracking and Monitoring Contracts Know where your contracts are. ... Determine what you need to track. ... Be proactive, not reactive. ... Keep stakeholders informed. ... Streamline the process with contract management software.

Six effective strategies for more effective contract management are to do a background check on the other party, determine a point of contact for both parties, establish the contract lifecycle, agree on the review processes, outline consequences of delays, and keep documentation of how the process went.