Within the Legislate platform, metrics are calculated for a team and for specific contracts. These metrics are Team metrics, NDA metrics, Employment metrics and Property metrics. Here’s a breakdown of how the metrics are calculated.
Team metrics present 3 charts to help users understand the efficiency of their team.
The first chart shows the average time taken to reach the signature stage within a contract and the average time taken for a contract to be completed.
The contract clock shows how many contracts are within the following contract lifecycle stages: active, expiry, close to anniversary and close to expiry.
The active portion simply counts contracts that are currently active, including the end date in this calculation for the contracts that have an end date. For example, an employment contract would be included in the active portion since there is no finite end date. For an AST with a set end date, this contract will appear in the active portion until it expires.
The expiry portion shows contracts that have expired, for the contracts where an end date has been provided.
The close to anniversary portion shows the number of contracts when we are in the same month as the month of the end date of a contract; for the contracts that have an end date. For example, if a contract is due to end on the 14/12/2021, when in the month of December, this contract will appear in the close to anniversary portion.
The close to expiry portion of the clock will count the contracts that have 3 months until expiry, for the contracts where an end date is provided.
The contract states metric counts the number of contracts that are in the draft stage, are in the details saved stage, the number of contracts that have been signed and the number of contracts that have been completed.
NDA metrics, Employment metrics and Property metrics are dependent on the type of contract and all have two metrics contained within them.
NDA metrics have an average term metric which simply calculates the average term for all NDA’s within a team. The average term distribution shows a distribution of the NDA terms within a team by working out the lower quartile, median and upper quartile of the NDA terms and counting how many contracts fall into each bracket.
Employment metrics work in the same way as NDA metrics, but sum the salaries for all the employment contracts within a team instead of calculating the average. The total salary distribution works in the same way by working out the lower quartile, median and upper quartile salary within a team and counting how many contracts fall into each bracket.
Property metrics work slightly differently. They have both a sum and distribution metric but calculate them slightly differently. For summing the rent in a contract, it will calculate the total rent that has been paid from when the contract has started. So for a lodger license agreement that started on the 17/11/2021 that costs £500 a month, on the 17/05/2022, the sum of the rent will be £3000 as six months of the contract have passed. The distribution metric works in a similar way where it works out the lower quartile, median and upper quartile for the durations of the contracts that have passed and then sorts those rent amounts into the according brackets.
Watch the following video to find out more about metrics and learn more about knowledge graphs to understand what's happening behind the scenes.