Reporting and Analysis gives you access to complex business information from multiple sources, including contract projects and matching invoices. Reports display data from these sources on a pivot table, which you can manipulate to see different scenarios for the data. Pivot tables allow you to filter, slice, and drill down into the information as needed to see broad patterns and relationships, summary information, and detail at the same time.
When analyzing your company’s contracts, you might typically ask the following questions:
How is my company using contracts? You might want to analyze contracts by commodity, supplier, or
organization. Who are your suppliers and how many contracts do you have with them? Which parts of
your company are creating those contracts? Is your company re-using standard clauses, or modifying
them for each contract? Once you view your contract data, you can investigate further by asking: are there
areas of overlap, and where can you consolidate?
What contract activity can I anticipate in the near future? You can analyze contracts by expiration or
start date. What contracts are expiring in the next three or six months? What contracts are starting? Which
parts of your company are responsible for these contracts? After viewing the data, you can delve into
operational efficiency: are there any bottlenecks? What are they costing you?
Is my company’s spend compliant with contracts? You can analyze contract and non-contract spend by
commodity, supplier, or organization. Do you have contract and non-contract spend for the same
commodity, or with the same supplier? Are you buying some commodities without contracts? Which
parts of your company are spending on contract and which parts aren’t? After comparing contract and
non-contract spend, you can determine sourcing opportunities and areas for consolidation.