Five Insights Charts to Increase Contracting Efficiency – Ironclad

This article will provide you with a list of five insights charts that will help increase your contracting efficiency.

If you would like to review this information in a video format, please refer to the Five Insights Charts to Increase Contracting Efficiency webinar.

Overview of Customizing Insights Charts

This article assumes you are familiar with the basic navigation of Insights. If you’d like a refresher, check out the Academy course on Visualizing & Analyzing Data with Insights.

As a reminder, the basic flow of creating and customizing Insights charts is as follows:

Add your desired charts.
Organize your charts into reports.
Duplicate your charts. Adjust filters/data to improve comparison and analysis.
Identify areas for improvement. Return to measure impact after changes have been made.

Five Insights Charts to Add to Increase Efficiency

We will walk through how to combine these charts into a report. We recommend these five charts because they are beneficial to everyone, no matter where you are in your Ironclad journey. They provide a balanced view of information, covering both the contents of your contracts and the workflow processes surrounding them.

This list is arranged from big picture (at the top) to detailed (at the bottom).

Contracts by Record Type (Repository)
Median Execution Time by Paper Source (Productivity)
Median Execution Time by Workflow Configuration (Productivity)
Number of Workflows Approved for Each Approver (Company Overview)
Contracts by Governing Law (Repository)

To learn more about each individual chart, click on the links above or refer to the tables at the bottom of this article.

Create Your Report

In Ironclad, click the Insights tab located at the top.
Click Create from Template.
Select Company Overview, and then click Continue with template.
Customize the name and click Save.
Repeat steps 2-4 to create reports for Repository and Productivity as well. You now have a list of charts added to Insights on the bottom right.
In the top right, click Create new > Report.
Enter a name for the report and click Save.
Click Settings located in the top right corner.
Add the five recommended charts to this report by selecting them from the Charts dropdown.

Contracts by Record Type

Location	Reports > Repository
Data/Metadata	Record Type Created Date WF Completed Date
Information Provided	This chart displays how your total volume of contracts are split across Record Type and Workflow Configuration.
How It Can Help You	Overall contract distribution provides part of the picture for where your improvement efforts will be most valuable.
Filters & Adjustment	Filter by Workflow Configuration if you’re using dynamic record type Filter by date to see YTD information Duplicate and filter by date to compare period-over-period Change chart type to Doughnut to see percentages
Next Steps	Start thinking about which contract types and workflow configurations you want to improve Start thinking about whether you want to improve the creation process (Workflow) or what happens with these contracts after they’re completed (Repository)

Median Execution Time by Paper Source

Location	Reports > Productivity
Data/Metadata	Paper Source Workflow Configuration Created Date WF Completed Date
Information Provided	This chart displays the Workflow Length for 1PP vs 3PP.
How It Can Help You	1PP vs 3PP workflows often have different tools or solutions that get implemented, so this report can narrow down your list of possible next steps.
Filters & Adjustment	Change chart type to Timeseries to look for outliers and trends over time Change Date reference to Quarter to smooth out noisy results Filter by Record Type to compare a contract type where you use both 1PP and 3PP
Next Steps	Look at your volume of 1PP vs 3PP and choose which of them you’d rather improve first Be sure to check 1PP vs 3PP volume in addition to execution time before committing

Median Execution Time by Workflow Configuration

Location	Reports > Productivity
Data/Metadata	Workflow Configuration Created Date WF Completed Date
Information Provided	This chart is one level more detailed than Median Execution Time by Paper Source. This provides a comparison of individual workflows.
How It Can Help You	This allows you to target individual workflows for improvement, and also provides a chance to identify trends.
Filters & Adjustment	Filter by date to compare specific time periods Duplicate and filter by date to compare period-over-period Change chart type to Timeseries to look for trends over time
Next Steps	Look for patterns and prioritize specific workflows to improve Watch the Simple Tips for Better Workflows webinar for general suggestions on improvement

Number of Workflows Approved for Each Approver

Location	Reports > Company Overview
Data/Metadata	Paper Source Workflow Configuration Created Date WF Completed Date
Information Provided	This chart displays the distribution of review and approval work across your Groups/Teams.
How It Can Help You	Assess your review and approval strategy
Filters & Adjustment	Filter by Workflow Configuration to analyze specific Approval setups Filter by date to isolate specific time periods Change chart type to Cumulative Timeseries to look for trends or explanations
Next Steps	Consider possible changes to your approval setup Replace individual users with Groups Set up consecutive roles Add Dashboard Views to track assigned Approvers Review if Users with high approval counts are in more Groups or Workflows than others

Contracts by Governing Law

Location	Reports > Productivity
Information Provided	This chart displays how many contracts fall under each Jurisdiction.
How It Can Help You	Test your intuition of your contracts vs the data
Filters & Adjustment	Change Chart Type to Timeseries to look for trends over time Change Range to Sum of Contract Value to show total dollars by governing law Change Range to Sum of Contract Value to show total dollars by governing law
Next Steps	Review Governing Law numbers and monetary value across individual workflows Use AI Playbooks to streamline and standardize your Governing Law redlines Configure a saved view in Repository for all contracts without pre-approved jurisdictions