Leveling up with Data & Insights
Published:
Apr 20, 2023
Getting an overview of your contracts key parameters is usually a hard and tedious task. With an increasing pressure of making data-driven decisions and establishing clear metrics and KPIs to report on performance, the Pocketlaw Data & Insights feature will help level up your team. Having set up your files in Pocketlaw, adding metadata about your contracts will ensure that you quickly have the information you need to make informed decisions to move forward faster. By using metadata tagging in Pocketlaw, you will be able to have valuable information about your contracts in the Insights feature (beta). By combining existing contract data and metadata in Pocketlaw, you can make informed decisions about how to best allocate resources and prioritize initiatives, be able to answer questions about current legal intake, which types of documents are created the most, and where your teams are making the biggest impact. It will further increase your ability to streamline legal workflows cross-org while setting up clear KPIs and metrics.
What is contract metadata?
Contract metadata are pieces of information that can both be found in the contract and be general about the contract. Some examples are “Date created”, Category”, “Termination date” and “Material agreement (key/core agreement)”.
What does contract metadata do?
It enables your team to quickly review, sort, track and find relevant contract information. This will help you prepare for upcoming deadlines and negotiations and save the organisation hours of time spent on reviewing contracts. The overview will also help you keep track of the important information stored in the contracts that you otherwise risk to forget (if embedded in the contract itself).
Contract metadata enables:
Tracking even better performance in Pocketlaw’s Data & Insights
Searching and reporting of your legal data room
Consistent and effective monitoring of contracts and relevant updates
Quick and strategic decisions
Clear overview of complex information that is accessible to everyone
The Metadata and Data & Insights feature Beta is available for all users in Pocketlaw. Start exploring it today already.
We are releasing a more comprehensive Data & Insights version this spring. Be the first to know.
Disclaimer:
Please note: Pocketlaw is not a substitute for an attorney or law firm. So, should you have any legal questions on the content of this page, please get in touch with a qualified legal professional.
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