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= Clause and Deviation Insights Reports = | = Clause and Deviation Insights Reports = | ||
| − | When reviewing agreements, negotiators are more likely to depend on their domain knowledge and expertise. This knowledge is not transferrable as it is solely based on their experience. As a result of this, when new negotiators come in to review similar agreements, the agreements may not be negotiated optimally because of the lack of historical data or expertise, often causing delay in approvals. | + | When reviewing agreements, negotiators are more likely to depend on their domain knowledge and expertise. This knowledge is not transferrable as it is solely based on their experience. As a result of this, when new negotiators come in to review similar agreements, the agreements may not be negotiated optimally because of the lack of historical data or expertise, often causing delay in approvals. |
| − | <div class="note-box" | + | |
| + | Availability of essential insights and trends such as cycle times, deviations and other metrics help predict the outcome of the negotiation, like the clauses that are likely to be approved quickly and the ones that may require more negotiation, thus helping to close contracts sooner. | ||
| + | |||
| + | Now, in ICI, negotiators will be able to leverage historical data and contextual insights on the cycle time required to close agreements for faster and smarter negotiations. This will help them make timely, informed decisions. | ||
| + | <div class="note-box">'''Note''': The accessibility to the Clause and Deviation Insights Reports are available through a technical configuration and user accessibility to Advanced Analytics as well as DiscoverAI and NegotiateAI apps.</div> | ||
== Clause Insights == | == Clause Insights == | ||
| − | The following clause insights are available within | + | The following clause insights are available within ICI. |
To view them: | To view them: | ||
1. '''Click''' ''Agreement Management''. The ''Agreement Management'' page opens. | 1. '''Click''' ''Agreement Management''. The ''Agreement Management'' page opens. | ||
| − | + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 1.png|720px|7.10 Clause and Deviation Insights 1.png]]</div> | |
2. '''Click''' the ''View Record'' icon. The agreement ''Details'' page opens. | 2. '''Click''' the ''View Record'' icon. The agreement ''Details'' page opens. | ||
| − | + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 2.png|720px|7.10 Clause and Deviation Insights 2.png]]</div> | |
3. '''Click '''the ''Agreement Clauses ''tab. | 3. '''Click '''the ''Agreement Clauses ''tab. | ||
| + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 3.png|720px|7.10 Clause and Deviation Insights 3.png]]</div> <div class="image-green-border"> </div> <div class="image-green-border">4. '''Click''' the icon next to the clause you want to view the insights for, as shown in the above screenshot. The ''Clause Insights'' report opens.</div> <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 5.png|720px|7.10 Clause and Deviation Insights 5.png]]</div> | ||
| + | Here is a brief description of the ''Clause Insights'' report: | ||
| − | + | *The Clause Usage Overview section gives an overview of the clause present in agreements along with the agreement cycle time. In the above example, the clause is present in 82 agreements out of a total of 280 agreements with Executed+ status, which means that the clause is used in 29% of the agreements. In addition, the inclusion of this clause has increased the agreement cycle time by 1%. | |
| − | + | *The report contains 5 cards: ''In Contract Type, Party Name, Organization Unit, Contract Value'' and ''In Region''. If the value for a card is not present, it will not show up in the report. For example, when creating the agreement, if the user does not enter the value for region, the ''In Region'' card will not be visible in the report. | |
| − | + | Each card is further categorized into 2 sections - ''Used in agreements'' and ''Agreement cycle time''. Here is a brief description of the sections: | |
| − | + | ||
| − | + | ''1. Used in agreements'': This specifies the number of agreements where the clause is present with respect to a card type along with the percentage. For example, in the screenshot below: | |
| − | + | *In the card ''In Contract Type'', out of a total of 208 ''Executed+'' agreements, the clause is present in 77 agreements with the Contract Type''SaaS Agreement, which means that the clause is used in 37% of the agreements.'' | |
| − | + | ||
| − | + | *In the card ''Party Name'', out of a total of 64 ''Executed''+ agreements, the clause is present in 41 agreements with the ''Party Name'' Icertis, which means that the clause is used in 64% of the agreements. | |
| − | * | + | |
| − | + | *<div class="image-green-border">In the card ''Organization Unit'', out of a total of 201 ''Executed+'' agreements, the clause is present in 73 agreements with the ''Organization Unit'' Configuration Org, which means that the clause is present in 36% of the agreements.</div> | |
| − | + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 6.png|720px|7.10 Clause and Deviation Insights 6.png]]</div> | |
| − | + | *In the card ''Contract Value Range'', out of a total of 111 ''Executed+'' agreements, the clause is present in 60 agreements where the contract value is <1M (€), which means that the clause is present in 54% of the agreements. | |
| − | * | + | |
| − | * | + | *In the card ''In Region'', out of a total of 80 ''Executed''+ agreements, the clause is present in 20 agreements with the region EMEA, which means that the clause is present in 9% of the agreements. |
| − | * | + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 7.PNG|720px|7.10 Clause and Deviation Insights 7.PNG]]</div> <div class="image-green-border" style="margin-left: 40px;"> </div> <div class="image-green-border">''2. Agreement cycle time: ''The values in the agreement cycle time can be ''higher by, did not change'' or ''lower by''.</div> |
| + | *<div class="image-green-border">''Higher by'': If the presence of a clause increases the agreement cycle time, it is displayed in percentage. This is indicated by the [[File:7.10 Clause and Deviation Insights 8.png|RTENOTITLE]] icon.</div> | ||
| + | |||
| + | *''Did not change'': This value is displayed if the presence of a clause does not affect the agreement cycle time. | ||
| + | |||
| + | *<div class="image-green-border">''Lower by'': If the presence of a clause lowers the agreement cycle time, it is displayed in percentage. This is indicated by the [[File:7.10 Clause and Deviation Insights 9.png|RTENOTITLE]] icon.</div> | ||
== Deviation Insights == | == Deviation Insights == | ||
| − | The following deviation insights are available within | + | The following deviation insights are available within ICI. |
| − | + | To view them: | |
| + | 1. '''Click''' ''Agreement Management''. The ''Agreement Management'' page opens. | ||
| + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 1.png|720px|7.10 Clause and Deviation Insights 1.png]]</div> | ||
2. '''Click''' the ''View Record'' icon. The agreement ''Details'' page opens. | 2. '''Click''' the ''View Record'' icon. The agreement ''Details'' page opens. | ||
| − | + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 2.png|720px|7.10 Clause and Deviation Insights 2.png]]</div> | |
3. '''Click '''the ''Deviations ''tab. | 3. '''Click '''the ''Deviations ''tab. | ||
| + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 10.png|720px|7.10 Clause and Deviation Insights 10.png]]</div> <div class="image-green-border"> </div> <div class="image-green-border">4. Click the icon next to the deviated clause you want to view the insights for, as shown in the above screenshot. The ''Deviation Insights'' report opens.</div> <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 11.png|720px|7.10 Clause and Deviation Insights 11.png]]</div> | ||
| + | The ''Deviation Insights'' report is similar to the ''Clause Insights'' report, with an additional section ''Alternate clause used in'' and the ''Know More'' link. | ||
| − | + | *''Alternate clause used in'': For example, in the above screenshot, if Clause_547 has an alternate clause that is present in 100 agreements out of a total of 280 ''Executed''+ agreements, the data will show as ''Alternate clause used in 35% (100 of total 280)''. | |
| − | + | ||
| − | + | ||
| − | *'' | + | *''Know More'': '''Click''' the ''Know More'' link to view the agreements where the clause is present, the deviated text, the deviation approvers and the approval or rejection note. This section also provides a link to the agreements. |
| − | + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 12.png|720px|7.10 Clause and Deviation Insights 12.png]]</div> <div class="image-green-border"> </div> <div class="note-box">'''Note''': Besides the ''Agreement Clauses'' and the ''Deviations ''tabs, you can also view the clause and deviation insights by clicking the ''Compare Clause Changes with Previous Document Version'' icon on the agreement ''Details'' page.</div> | |
| − | <div class="note-box">'''Note''': Besides the Agreement Clauses and the Deviations tabs, you can also view the clause and deviation insights by clicking the Compare Clause Changes with Previous Document Version icon | + | *<div class="image-green-border">If a clause present in the current agreement version has been deviated, '''click''' the [[File:7.10 Clause and Deviation Insights 4.png|RTENOTITLE]] icon to view the ''Deviation Insights''.</div> |
| − | *If a clause present in the current agreement version has been deviated, '''click''' the icon to view the ''Deviation Insights''. | + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 13.png|720px|7.10 Clause and Deviation Insights 13.png]]</div> |
| − | *If the clause has not been deviated, '''click''' the | + | *<div class="image-green-border">If the clause has not been deviated, '''click''' the [[File:7.10 Clause and Deviation Insights 4.png|RTENOTITLE]] icon to view the ''Clause Insights''.</div> |
| + | <div class="image-green-border">[[File:7.10 Clause and Deviation Insights 14.png|720px|7.10 Clause and Deviation Insights 14.png]]</div> | ||
Latest revision as of 14:17, 11 September 2020
Clause and Deviation Insights Reports
When reviewing agreements, negotiators are more likely to depend on their domain knowledge and expertise. This knowledge is not transferrable as it is solely based on their experience. As a result of this, when new negotiators come in to review similar agreements, the agreements may not be negotiated optimally because of the lack of historical data or expertise, often causing delay in approvals.
Availability of essential insights and trends such as cycle times, deviations and other metrics help predict the outcome of the negotiation, like the clauses that are likely to be approved quickly and the ones that may require more negotiation, thus helping to close contracts sooner.
Now, in ICI, negotiators will be able to leverage historical data and contextual insights on the cycle time required to close agreements for faster and smarter negotiations. This will help them make timely, informed decisions.
Note: The accessibility to the Clause and Deviation Insights Reports are available through a technical configuration and user accessibility to Advanced Analytics as well as DiscoverAI and NegotiateAI apps.
Clause Insights
The following clause insights are available within ICI.
To view them:
1. Click Agreement Management. The Agreement Management page opens.
2. Click the View Record icon. The agreement Details page opens.
3. Click the Agreement Clauses tab.
4. Click the icon next to the clause you want to view the insights for, as shown in the above screenshot. The Clause Insights report opens.
Here is a brief description of the Clause Insights report:
- The Clause Usage Overview section gives an overview of the clause present in agreements along with the agreement cycle time. In the above example, the clause is present in 82 agreements out of a total of 280 agreements with Executed+ status, which means that the clause is used in 29% of the agreements. In addition, the inclusion of this clause has increased the agreement cycle time by 1%.
- The report contains 5 cards: In Contract Type, Party Name, Organization Unit, Contract Value and In Region. If the value for a card is not present, it will not show up in the report. For example, when creating the agreement, if the user does not enter the value for region, the In Region card will not be visible in the report.
Each card is further categorized into 2 sections - Used in agreements and Agreement cycle time. Here is a brief description of the sections:
1. Used in agreements: This specifies the number of agreements where the clause is present with respect to a card type along with the percentage. For example, in the screenshot below:
- In the card In Contract Type, out of a total of 208 Executed+ agreements, the clause is present in 77 agreements with the Contract TypeSaaS Agreement, which means that the clause is used in 37% of the agreements.
- In the card Party Name, out of a total of 64 Executed+ agreements, the clause is present in 41 agreements with the Party Name Icertis, which means that the clause is used in 64% of the agreements.
- In the card Organization Unit, out of a total of 201 Executed+ agreements, the clause is present in 73 agreements with the Organization Unit Configuration Org, which means that the clause is present in 36% of the agreements.
- In the card Contract Value Range, out of a total of 111 Executed+ agreements, the clause is present in 60 agreements where the contract value is <1M (€), which means that the clause is present in 54% of the agreements.
- In the card In Region, out of a total of 80 Executed+ agreements, the clause is present in 20 agreements with the region EMEA, which means that the clause is present in 9% of the agreements.
2. Agreement cycle time: The values in the agreement cycle time can be higher by, did not change or lower by.
- Higher by: If the presence of a clause increases the agreement cycle time, it is displayed in percentage. This is indicated by the
icon.
- Did not change: This value is displayed if the presence of a clause does not affect the agreement cycle time.
- Lower by: If the presence of a clause lowers the agreement cycle time, it is displayed in percentage. This is indicated by the
icon.
Deviation Insights
The following deviation insights are available within ICI.
To view them:
1. Click Agreement Management. The Agreement Management page opens.
2. Click the View Record icon. The agreement Details page opens.
3. Click the Deviations tab.
4. Click the icon next to the deviated clause you want to view the insights for, as shown in the above screenshot. The Deviation Insights report opens.
The Deviation Insights report is similar to the Clause Insights report, with an additional section Alternate clause used in and the Know More link.
- Alternate clause used in: For example, in the above screenshot, if Clause_547 has an alternate clause that is present in 100 agreements out of a total of 280 Executed+ agreements, the data will show as Alternate clause used in 35% (100 of total 280).
- Know More: Click the Know More link to view the agreements where the clause is present, the deviated text, the deviation approvers and the approval or rejection note. This section also provides a link to the agreements.
Note: Besides the Agreement Clauses and the Deviations tabs, you can also view the clause and deviation insights by clicking the Compare Clause Changes with Previous Document Version icon on the agreement Details page.
- If a clause present in the current agreement version has been deviated, click the
icon to view the Deviation Insights.
- If the clause has not been deviated, click the icon to view the Clause Insights.
