Gain actionable insights into your contracting processes and make data-driven decisions with SpotDraft's Contract Analytics.
Contract Analytics provides a 360-degree view of your contracts, covering their lifecycle, approval processes, review stages, and overall turnaround times. This empowers you to:
- Identify Bottlenecks: Pinpoint areas where your contracts are getting stuck or experiencing delays.
- Optimize Workflows: Streamline your contract processes and improve efficiency by understanding where your team spends the most time.
- Forecast Workloads: Accurately predict resource needs and plan for future contracts.
- Demonstrate Value: Use data to showcase the impact of your legal team and justify resource allocation.
Accessing Contract Analytics
Prerequisites: you need to be part of a team that has access to analytics.
- To access Contract Analytics, click the "Analytics" icon on the left navigation bar.
- You'll see four dashboards, each focusing on a specific aspect of your contract journey.
- To use one of the available filters, click on the “filters” button, select the filter you want to apply, and then hit “save”
Access Control
To give a team access to analytics, you have to enable the permission inside Access Control.
- Hover over the “Settings” button in the left navigation bar and click on “Access Control”. Pro tip: you can use Cmd+k/Ctrl+k to quickly find access control from anywhere on SpotDraft.
- Go to “Teams” and choose the relevant team you want to give access to. You can also search for the right team using the search bar. Alternatively, create a new team if needed.
- Select the “Contract Analytics” permission. This team will now be able to view analytics
Important Note
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Description of metrics
Metrics are divided into four different dashboards. How these metrics are calculated is described below
Lifecycle Dashboard
The Lifecycle dashboard provides a visual overview of your contract activity over time.
The metrics in this dashboard are made from contract creation, execution, and expiration data points, among other key information like contract types, workflow types, and workflow statuses.
Here's a description of the metrics available in the Lifecycle dashboard:
- Contracts Created Over Time: Total number of contracts created on the platform over a specified period (weekly, monthly, quarterly, or yearly). This includes contracts initiated from templates, uploaded from external sources, and also those created but not yet executed. The time period reflects the contract creation or upload date.
- Contracts Executed Over Time: Total number of contracts fully executed, either through digital signing on the platform or by uploading externally signed agreements over a specified period (weekly, monthly, quarterly, or yearly). The time period reflects the execution date. This requires externally executed contracts to have the "Execution Date" metadata field populated.
- Contracts Expiring in the Following Months: Total number of contracts with an approaching expiration date within the selected time frame. This metric relies on the "Expiration Date" metadata and only includes contracts with this information available.
- Top 10 Most Used Contract Types by Volume: The most frequently used contract types based on the total number of contracts created for each type. This includes contracts created from templates, uploaded contracts, and externally executed contracts.
- Contracts Created from Different Workflow Types: Distribution of contracts based on their initial workflow type: Drafted from templates, Uploaded for Review, Sent for Signature, Externally Executed Contracts.
- Drafted from templates: capture contracts created by filling a template questionnaire to create a contract directly on SpotDraft, or through an integration like Salesforce or Hubspot.
- Uploaded for Review: captures contracts uploaded to SpotDraft for review through the “Upload for Review” third-party-paper workflow
- Send for Signature: captures contracts uploaded to SpotDraft for signatures through the “Send for Signature” third-party-paper workflow
- Externally Executed Contracts: captures executed contracts uploaded to SpotDraft through the “Import Executed Contracts” workflow after being externally executed. This will also include historical contracts
- Contracts by Current Workflow Status: Distribution of contracts based on their current stage in the workflow, regardless of the initial workflow type. This includes Draft, Redlining, Signing, and Executed statuses.
- Raw Data Table: Detailed data for each contract, providing the basis for the metrics displayed on this dashboard.
You can use filters to refine the data based on:
- Contract Status
- Contract Type
- Counterparty Name
- Contract Workflow
- Contract Creation Date
- Contract Execution Date
- Contract Expiry Date
Approvals Dashboard
The Approvals dashboard helps you understand the business approval process for your contracts.
These are based on approvals that you may have set up on your workflows. These are typically pre-defined, but you can also see metrics for ad-hoc approvals, if there are any that were requested.
Here's a description of the metrics available in the Approvals dashboard:
- Approvals Requested: Tracks the total number of approval requests made. These are unique approval requests and each contract may have multiple approvals pending at once.
- Approvals Pending: Displays the number of contracts currently awaiting approval. Even if a contract has multiple approvals pending, it will be counted once.
- Average Time Spent in Approvals by Contract Type: Calculates the average time taken for any type of approval across a given contract type. (The average is calculated by summing the time for all approvals for a contract type and dividing by the total number of approvals.)
- Average Time Spent in Approvals by Approval Type: Calculates the average time taken for each approval type. (The average is calculated by summing the time for all approvals of a specific type and dividing by the total number of approvals of that type.)
- Average Overall Time in Hours Spent in Approvals Month-on-Month: Tracks the average time taken for approvals across all contracts in a given month.
- Approvals Completed Month-on-Month: Shows the number of approvals completed each month.
- Raw Data Table: Provides access to the underlying raw data that contributes to the metrics displayed in the charts.
You can use filters to refine the data based on:
- Date Approval First Sent
- Approval Type
- Approval Status
- Contract Type
- Contract Workflow Type
Review Dashboard
The Review dashboard provides insights into the review process for your contracts.
The review process on SpotDraft starts when a review is requested from (usually) a legal user. This is different from the approvals mentioned above. These metrics track activity around reviews.
Here's a description of the metrics available in the Review dashboard:
- Reviews Requested: Tracks the total number of review requests made.
- Reviews Pending Completion: Shows the number of reviews currently awaiting completion.
- Average Time Before Review Start: Calculates the average time taken between a review request and the initial review start date.
- Average Time Spent in Review by Contract Type: Calculates the average time taken for reviews across a given contract type. (The average is calculated by summing the time for all reviews for a contract type and dividing by the total number of reviews.)
- Average Overall Time in Hours Spent in Review Month-on-Month: Tracks the average review time for all contracts in a given month.
- Reviews Completed Month-on-Month: Shows the number of reviews completed each month.
- Raw Data Table: Provides access to the underlying raw data that contributes to the metrics displayed in the charts.
You can use filters to refine the data based on:
- Review Request Type (Individual or Team)
- Review Requested Date
- Review Completed Date
- Review Status
- Contract Type
- Legal Reviewer Name
Turnaround-Time Dashboard
The Turnaround-Time dashboard provides a comprehensive view of the time taken for each stage of the contract lifecycle.
These metrics are built on top of data-points that are recorded when a contract transitions between states.
Here's a description of the metrics available in the Turnaround-Time dashboard:
- Average Time Spent in Draft Stage: Calculates the average time taken for contracts to be in the "Draft" stage of their lifecycle. (This is measured from when the contract enters the draft stage to when it leaves the draft stage.)
- Average Time Spent in Review: Calculates the average total time taken to complete a review after the “Request Review” button was clicked.
- Average Time Spent in Internal Redlining: Calculates the average time taken for contracts to be in the Redlining stage with the internal party. (This is measured from the initial redlining start to the final redlining completion time, only for the duration that the contract was with the internal party.)
- Average Time Spent in External Redlining: Calculates the average time taken for contracts to be in the Redlining stage with the counterparty. (This is measured from the initial redlining start to the final redlining completion time, only for the duration that the contract was with the counterparty)
- Average Time Spent in Pre-Sign Approvals: Calculates the average time taken to collect pre-sign approvals before the first signature emails are sent.
- Average Time Spent in Signing: Calculates the average total time taken to collect internal and counterparty signatures.
- Average Number of Turns by Contract Type: Shows the average number of negotiation rounds (turns) that a contract typically goes through for each contract type.
- Average Turnaround Time by Workflow Stage: Displays the average turnaround time for each stage of the workflow (e.g., drafting, redlining, approvals, signing) across different contract types.
- Raw Data Table: Provides access to the underlying raw data that contributes to the metrics displayed in the charts.
You can use filters to refine the data based on:
- Contract Creation Date
- Contract Workflow Type
- Contract Type
- Contract Status
Understanding the Data
Each of the four Contract Analytics dashboards provides a visual representation of the data, along with a "Raw Data" table. The "Raw Data" table allows you to drill down into the individual contracts and review the underlying data points that contribute to the metrics.
For example:
This "Raw Data" table shows the individual contract details that contribute to the metrics in the dashboard. You can use the search bar to quickly find specific contracts and analyze their data.
Here are the data points available in the raw data tables:
| Dashboard | Data points available in the raw data table |
| Lifecycle |
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| Approvals Analysis |
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| Review Analysis |
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| Turnaround Times |
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Note that the data is not realtime, and is updated once every day at 12am UTC.
If you have feedback on the metrics, or would like to share suggestions for a new metric, please reach out to your Customer Success Manager.
Download data
All the data is able to be downloaded using the three dot menu at the chart level. This data can either be downloaded while respecting the global filters (Download), or can be downloaded without any global filters applied (Download without filters).
This data will be available as you see it, in a CSV.
Frequently asked questions
Q: What is the difference between process data and metadata?
A: Process data refers to all of the data that is generated via the system throughout the journey of a contract in its life cycle. This includes things like durations, contract statuses, users associated with the contract, etc. On the other hand metadata talks about the business context underlying the contract and the content of the contract itself. Today, we have analytics based around process data. Metadata analytics will come soon.
Q: Why do I see “No Data” on my metrics?
A: Most of the metrics are made of process data that SpotDraft automatically captures. If for some reason you don’t have any process data for contracts that fit the current filter criteria, you may not be able to see those metrics.
Q: Why don't I see real-time data as I update my repository?
The dashboard is not real time. It updates once every day at 12am UTC.
Q: Can I create my own graphs?
A: No, you cannot create your own graphs today. There is a growing repository of multiple charts and graphs to suit your needs. We will update this repository once every two weeks with new metrics that you can request for. If enough people request for the same metrics, we will add them to the right dashboards. In the meanwhile, you can download the data and do offline analyses if needed.
Q: Can I drill down into data?
You can slice and dice the data by using the available filters. Drill-downs and double clicks on charts will be supported soon.
Q: Can I download the charts?
A: As of today, you can download the data in the form of a CSV. We are working hard to bring you the ability to download the graphs as PNG.
Q: Who can see the data?
A: Anyone who has access to analytics given through access control can see all graphs. These graphs are made of all of the underlying data in the repository. While users can see the metrics made of these data, they can see only the underlying contracts that they have access to.
Q: Can I go to a specific contract from analytics?
A: You can click on the contract in the raw data table to jump directly to the contract. Note that you won’t be able to see the contract if you don’t have access to it.
Q: What does draft time mean?
Draft time is the time that the contract spent in the draft stage, whether the contract was created from SpotDraft or from an integration like Salesforce. The draft time captures the amount of time between the contract being created and it moving to the redlining stage.
Q: What does internal redlining time mean?
A: Internal redlining time is a total amount of time that your team has spent on reviewing the contract. This could be across multiple turns of negotiation. To ensure that this data is accurate, even between terms of counterparty negotiation, the contract versions must either be updated manually, or the pending with counterparty toggle needs to be used appropriately, or the contracts need to be sent and received to the workflow email.
Q: Can I use the filters on the repository to filter out my contracts on analytics
A: No, today you can only use the filters available on the analytics dashboard to filter out your contract. If there is a certain filter that is missing, please let us know.