Audit contract management changes in Lextree

New clients often want to know how to view significant changes to their contracts managed in Lextree. Lextree provides several ways to access (or audit) historical information about contracts. Where to look and how to use Lextree for auditing depends in part on what information you need.

Changes to contract terms

Lextree preserves the full document history of any contract. On the Documents tab, all documents added to the contract record are preserved. Even when they expire or their legal effect is altered by a subsequent event or document such as an amendment, the historical document remains, including the metadata.

Contract Document History

Examples of changes to contract terms which are available on the Documents tab include: amendments, statements of work, and pricing schedules.

All of this data is available in Reports > Contracts > Documents which will give you a view across all of your contracts.

Contract request

Clients who subscribe to the Business or Enterprise Edition, can control changes to contracts with the Contract Request feature.

The history of a contract request is available in Contracts > [Name of Contract] > Tasks > Completed. This tab will show all completed tasks, include workflows, that relate to the contract in focus.

Contract Document Request History

Document requests

The Task Workflow feature also applies to individual documents within a contract. User requests for contract amendments are handle through the same Task Workflow capability.

For each document requested through a task workflow, Lextree will display a link to the history in the Request History column.

Document reporting is available at Reports > Contracts > Documents.

Tasks

Task auditing is available in Reports > Tasks > Tasks. A report of all tasks, completed or outstanding, is available for any group of contracts.

Auditing Task Information

Lextree preserves all task history in the contract record. If you need more background on the task than is available in Reports, then you can view the full task history for a contract.

Contract Approval Request Task History

Simply navigate to a contract, Contracts > [Name of Contract] > Tasks. On the Tasks tab you can access all In Progress, Completed, and Canceled tasks for that contract.

Auditing Task Document Changes

Lextree also allows you to access all changes to documents created or modified in the course of a task. At the top of the task, the File field displays the most recent version of the document related to the task. You can see the entire history of the document and view its contents on the Document History tab of the task.

User-Based Audit Information

The word "audit" means different things to different people. Lextree focuses on providing detailed information about contracts to help organizations manage contract approval workflow, comply with the law, and manage risk.

The auditing options described above serve those objectives. However, some organizations want to know what users changed specific contract information. Lextree supports these needs in two ways: 1. with standard features located at key points throughout the product and 2. with custom reports available in our Enterprise Edition.

Business Edition User Auditing

The Business Edition of Lextree provides user audit trail information in two ways: Last Updated and Tasks.

Last Updated

Lextree collects and displays user events in the Last Updated field. In almost every table of data, Lextree displays a column called Last Updated. The date and time are a hyperlink. Click on the link to see the history of that item.

For example, you can see the audit trail of everyone who has modified a specific document in a contract.

Tasks

Each task contains detailed information in the Status History, Document History, and All Comments tabs. Those tabs automatically save and display all changes made by each user.

Enterprise Edition

For clients who need a more detailed audit log of changes by users, we offer our Enterprise Edition. The Enterprise Edition has several benefits, but the most relevant is the ability to design custom reports to your specification.

Our professional services team is available to create an audit report using a wide array of Lextree data. We can build that audit report to your suite your needs. Custom audit reports are completed on a fixed bid basis so that you know exactly how much it will cost in advance.

Conclusion

Lextree is a comprehensive repository of data about your contracts and compliance requirements. You can run reports to audit legally significant changes to any or all of your contracts.

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