Agreement Tracking Spreadsheet
For each contract, you may have different key data, but let`s assume you`re recording at least “renewal date” and “end date” in your calculation table. In the adjacent column, you can subtract the “Today Date” cell from this contract data. Once a company increases its contract volume, a flick through a computational table to find a data point, looking for the proverbial needle in a haystack. It is also likely that your business will have to start processing different types of contracts, such as lender contracts. B, compliance documents, work orders and more. Managing all these different types of contracts in a calculation table becomes unenforceable and inefficient, and dividing them into several pages is just a band-aid solution. With the growth of a business, the costs in terms of time and effort (and therefore money) for using a calculation table as the main contract management tool increase exponentially. Status: This field can identify the current status of the contractual agreement. The status of the contract can be very broad, for example.B. Not active or concluded, or the status of the contract may be more granular, for example.B.
legal verification, financial control, end of signature. By linking documents housed elsewhere or inserting the information directly into the calculation table, this information can be selected from an unnecessarily large target audience. In the absence of different levels of access and the ability to limit access to the role, information security requirements may not be met. CobbleStone Software is dedicated to the success of our customers and their contract management requirements. Fill out the form to download a free contract management table that will be used as a template for order management. Cancellation/verification days: This column should be used to define a certain number of days before the contract expires in order to verify the agreement. The conditions for automatic renewal and cancellation must be taken into account when setting up The Notify Days to Cancel/Review. Ultimately, contract management is a complex process that requires a clear record of all agreements, followed by ongoing monitoring and updating. This will help support compliance and governance. More information about this can be found in our explanatory article on contract management. The vendor management process consists of many mobile elements that require automatic calibration to manage supplier relationships. If you rely on an Excel table or credit list model to manage contact information, payment terms, products and service agreements, and so on, you need careful supervision.
The first thing to do is to set up a cell that will always have “today” date in – that is, when you open the table, that cell will be filled with the current date. We assume that you already have a contract (or several) at different stages of execution. The first step in creating a calculation table is to track your contracts separately and mark terms, clauses, dates and other relevant data. Anything that needs to be entered manually, such as the names of the parties, the terms of sale (for example. B price) and dates, must be accompanied by all clauses that will be the subject of more intense negotiations. Do you need a cost-effective contract software solution? Learn more about Contract Insight™ Express Software and use automated contractual warnings and advanced features. Are you interested in following additional details about your contracts that are not on this page? If software is needed to manage enterprise contracts, select Contract Insight™ Enterprise Edition.