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In-House Tip: Set Contracting KPIs
• 09 Sep 25
"What gets measured gets managed–KPIs are the compass for your contracting function." – Matthew Glynn (Managing Director, GLS Group)
Are You Tracking How Well Your Contracting Process Is Performing?
Here’s why setting KPIs is crucial:
◼️Performance Visibility: Track contract turnaround times, approvals, and renewals.
◼️Bottleneck Identification: Spot where delays happen and address them.
◼️Risk Monitoring: Measure contract risks and ensure proper mitigations.
◼️Cost Control: Track legal costs associated with contract review and management.
◼️Quality Assurance: Measure error rates and ensure high-quality outputs.
◼️Business Satisfaction: Gauge internal client satisfaction with legal support.
◼️Compliance Rates: Monitor adherence to policies and legal standards.
◼️Workload Balance: Assess the legal team’s capacity and distribute work effectively.
◼️Continuous Improvement: Use data to refine processes and improve efficiency.
◼️Strategic Alignment: Ensure the contracting process supports overall business goals.
If you want to enhance your contracting function–set and track KPIs.
Remember: The best in-house legal teams measure success, then aim higher.
