Portfolio insights

Insights looks across all your contracts at once and points out things worth acting on, such as renewals coming up, prices that look out of line, or suppliers you could combine.

What insights shows

Open Insights from the main menu. Renewly looks for five kinds of finding:

• Renewal Timing: contracts whose time to act is open or closing. Bigger contracts are flagged earlier, so you have more time to prepare.
• Auto-Renewal Liability: the yearly value of contracts that will renew on their own in the next 90 days, with the largest ones listed.
• Spend Anomaly: a contract whose yearly cost is well above or below your other contracts with the same supplier.
• Consolidation: a supplier you have two or more active contracts with, which you might combine into one agreement on better terms.
• Risk Trending: whether the risks across your contracts have gone up or down compared with 30 days ago.

Each finding has a severity: Critical, High, Medium or Info. Use the filters at the top to show findings by status, type or severity.

How insights are generated

When you run an analysis, Renewly looks at:

• The dates, values and billing cycles of your active contracts
• Which supplier each contract is with
• The risks found in each contract
• Which contracts renew on their own, and their notice periods

Money is compared within one currency at a time and as a yearly amount, so a monthly contract is never compared with an annual one at face value.

Insight statuses

Each finding has one of three statuses:

• Active: a current finding that needs your attention. The page shows these by default.
• Dismissed: you looked at it and chose to set it aside. Click Dismiss to do this.
• Resolved: it has been dealt with. Click Resolve to mark it yourself. Renewly also resolves a finding when a later analysis shows the problem has gone, or when you delete the contract it was about.

Who sees insights

Insights look at every contract in the workspace. If your workspace limits some members to certain departments, those members do not see insights and cannot run them. Owners, admins and members without a department limit can.

Running an analysis

1. Open Insights from the main menu.
2. Click Run Analysis.
3. Wait while Renewly scans your contracts. The page shows Scanning your portfolio...
4. New and updated findings appear in the list. The page shows when you last ran it.

You can run an analysis up to 5 times an hour.

Acting on each insight type

Renewal Timing

• Open the contract and check the last day to act.
• Decide early whether to renew, renegotiate or cancel.
• If several contracts fall due together, plan who handles each one.

Auto-Renewal Liability

• Check each listed contract is one you want to keep.
• Give notice before the deadline on any you want to end or renegotiate.

Consolidation

• Ask the supplier about combining the contracts into one.
• Use the total you spend with them to negotiate better terms.

Spend Anomaly

• Check the contract's value and billing cycle are recorded correctly.
• Compare it with your other contracts with that supplier.
• Note it for renegotiation at the next renewal.

Risk Trending

• Review the contracts with high or critical risks first.
• Deal with any auto-renewal traps before their notice deadlines.
• Work through contracts that still need reviewing.

Insights vs. analytics

Both use your contract data, but they do different jobs:

• Analytics shows figures and charts: spend, suppliers, renewals and risks. It answers "what do my contracts look like?"
• Insights gives specific findings to act on. It answers "what should I look at next?"

Use Analytics for reporting and planning. Use Insights to decide what to do next.