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Setting and tracking appropriate legal KPIs (key performance indicators) is an important activity that helps your legal department gain perspective on how their current processes influence your business’s success and performance. So, how do you go about developing KPIs and how can you ensure that your team is tracking the most important ones that are suited to your company? What is the process like of tracking these metrics? We’ll discuss all this and more so you can assist your legal team with all the data they need to enhance their strategy.
Key Performance Indicators (KPIs) are used to measure and track the progress and performance of your contracts. Monitoring your KPIs can help assist you in understanding contract performance measurements and insights so you can strategize how to tangibly optimize and drive results based on your current projects and initiatives.