How to use Microsoft Power BI for contract management

Often one of the most rewarding parts of digital transformation is the ability to create key business data. After implementing a digital contract lifecycle management system you will have lots and lots of data at your disposal. This article looks at how you can use Microsoft Power BI to analyze the data to make informed decisions.

Two clicks to find signed contract

You can quickly create reports which link directly to your information. In the example below the contracts for a particular legal entity are filtered with the click of the mouse. The information that was imported into MS Power BI includes a link to the stored signed contract. Immediately you have access to the signed document

What are the next renewal dates?

Reminder emails are a thing of the past. Instead, just go to your Power BI dashboard and instantly find all the important renewal dates. With simple filtering you can identify the contracts you are interested in. This makes workload planning a breeze.

Understanding your business with trends

Create trend diagrams to understand your business. Why is there a dip in activity this month? Contracts are (for the most part) entered into before a transaction takes place. This makes these contract trend diagrams an invaluable early indicator of future revenues and costs.

The above diagrams were created from a project based on the book No Cost Contract Automation. The data used is imported daily automatically from SharePoint.