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Product Updates

Apr 20, 2023

Leveling up with Data & Insights

Leveling up with Data & Insights

Getting an overview of your contracts key parameters is usually a hard and tedious task. With an increasing pressure of making data-driven decisions and establishing clear metrics and KPIs to report on performance, the Pocketlaw Data & Insights feature will help level up your team. Having set up your files in Pocketlaw, adding metadata about your contracts will ensure that you quickly have the information you need to make informed decisions to move forward faster. By using metadata tagging in Pocketlaw, you will be able to have valuable information about your contracts in the Insights feature (beta). By combining existing contract data and metadata in Pocketlaw, you can make informed decisions about how to best allocate resources and prioritize initiatives, be able to answer questions about current legal intake, which types of documents are created the most, and where your teams are making the biggest impact. It will further increase your ability to streamline legal workflows cross-org while setting up clear KPIs and metrics.

Getting an overview of your contracts key parameters is usually a hard and tedious task. With an increasing pressure of making data-driven decisions and establishing clear metrics and KPIs to report on performance, the Pocketlaw Data & Insights feature will help level up your team. Having set up your files in Pocketlaw, adding metadata about your contracts will ensure that you quickly have the information you need to make informed decisions to move forward faster. By using metadata tagging in Pocketlaw, you will be able to have valuable information about your contracts in the Insights feature (beta). By combining existing contract data and metadata in Pocketlaw, you can make informed decisions about how to best allocate resources and prioritize initiatives, be able to answer questions about current legal intake, which types of documents are created the most, and where your teams are making the biggest impact. It will further increase your ability to streamline legal workflows cross-org while setting up clear KPIs and metrics.

Illustration of a circle diagram showing how many contracts & documents you've created in Miramis (formerly Pocketlaw)

What is contract metadata?

Contract metadata are pieces of information that can both be found in the contract and be general about the contract. Some examples are “Date created”, Category”, “Termination date” and “Material agreement (key/core agreement)”. 

What does contract metadata do? 

It enables your team to quickly review, sort, track and find relevant contract information. This will help you prepare for upcoming deadlines and negotiations and save the organisation hours of time spent on reviewing contracts. The overview will also help you keep track of the important information stored in the contracts that you otherwise risk to forget (if embedded in the contract itself).  

Contract metadata enables:

  • Tracking even better performance in Miramis' (formerly Pocketlaw) Data & Insights 

  • Searching and reporting of your legal data room 

  • Consistent and effective monitoring of contracts and relevant updates

  • Quick and strategic decisions 

  • Clear overview of complex information that is accessible to everyone

The Metadata and  Data & Insights feature Beta is available for all users in Miramis. Start exploring it today already.  

We are releasing a more comprehensive Data & Insights version this spring. Be the first to know. 

Register your interest here

Disclaimer:
Please note: Miramis is not a substitute for an attorney or law firm. So, should you have any legal questions on the content of this page, please get in touch with a qualified legal professional.

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