5 Proven Tips for Better Contract Tracking (Do’s and Don’ts)

Contract tracking may not sound glamorous, but it can make or break your business. Done wrong, it means missed deadlines, lost revenue, and frustrated teams. Done right, contract tracking saves time, reduces risk, and keeps you ahead of renewals.

Good contract tracking, on the other hand, keeps revenue flowing, obligations in check, and stress levels manageable. It helps businesses:

• Reduce costly mistakes (because human error is always lurking).
• Stay ahead of deadlines with alerts and reminders.
• Save time with centralized, automated systems.

That’s why we put together 5 proven tips — plus common mistakes to avoid — so you can master contract tracking without the chaos. 

Table of Contents:

1. Contract Tracking Tip #1: Why Doesn’t Excel Work for Contract Tracking?
2. Contract Tracking Tip #2: How Can You Stay Ahead of Contract Deadlines and Renewals?
3. Contract Tracking Tip #3: Who Should Be Responsible for Contract Tracking?
4. Contract TrackingTip #4: Why Centralized Contract Tracking Beats Scattered Systems
5. Contract Tracking Tip #5: How Can Contract Tracking Software Automate the Process?
6. FAQs About Contract Tracking

TL;DR: Contract Tracking in 60 Seconds

Contract tracking isn’t about spreadsheets, sticky notes, or shared drives — it’s about control. Here’s the short version:

❌  Don’t rely on Excel — too error-prone, no alerts.

✅  Set automated reminders so you never miss deadlines.

✅  Assign one owner for accountability.

✅  Centralize contracts in one searchable system.

✅  Automate with software to save time and reduce risk.

💡Bottom line: Scattered tracking = chaos. Centralized, automated tracking = peace of mind (and no missed renewals).

Intrigued? Keep reading for tips and contract tracking best practices. 

Contract Tracking Tip #1: Why Doesn’t Excel Work for Contract Tracking?

Spreadsheets may be the default, but they’re a trap for growing businesses. Here’s why Excel falls apart fast:

❌ No contract alerts for renewals or expirations

❌ High risk of human error with manual entry

❌ Version-control chaos when multiple people edit

❌ Permissions are all-or-nothing

❌ Reporting requires Excel expertise

💡Better option: Use contract tracking software with automated alerts, centralized access, and scalable reporting.

Love them or hate them — Excel spreadsheets are a staple at most businesses. And while it might make sense for newer businesses to manage processes like contract tracking in Excel, it’s not a good solution. Why?

Start adding more contracts, more staff, and more money into the mix, and suddenly that once-great spreadsheet becomes a thorn in your side — right along with that cursed shared drive (you know, the one overflowing with drafts, marketing documents, invoices and other junk where no one can find anything?).

Somehow, your single, well-organized spreadsheet has spawned multiple versions. Each one with slightly different information, and no consensus on which is the “right” one.  And don’t get us started on reporting and filtering!

Here’s a complete breakdown of why manually tracking contracts in Excel isn’t sustainable for a growing business.

• They don’t support contract alerts for important tasks or upcoming dates (like contract expirations and opt-out/renegotiation windows etc.). Which means either missing those critical dates altogether or assigning Janet from accounting to continuously monitor and alert the team when something comes up. Either way you look at it, it’s not great.

• There’s more potential for human error. Someone on your team has to pull data from your contracts and enter it into the spreadsheet. Or filter or hide cells. One small typo can cause big problems when it comes to renewals and the like.
• Permissions are a hassle. It’s all-or-nothing when it comes to who has access to a spreadsheet. Want to limit access in specific areas or to specific people? You’re out of luck.

• Management typically falls to one person. What happens if the person who handles all of the tracking and updating gets sick or quits without notice? Without someone else on your team who can fill in, the answer isn't good. 

• There’s no easy way to add new items to track. If, for example, you decide to start tracking a salesperson assigned to each contract, you’ll have to manually add that item for all contracts in the sheet.

• They don’t support seamless contract approvals (or signatures). Which means another process needs to be created, implemented, and managed.

• Collaboration is messy, and version control is almost impossible. You need multiple people to view and manage contract details. What you don’t need? Those people going rogue and making changes you didn’t ask for or accidentally deleting the file altogether. 
• Excel only works for people who know how to use Excel. Everyone who’s spent any time working in an office can handle the basics of Excel. But what about running a pivot table to get data or hiding columns and filtering? Team members who aren’t Excel-savvy will have a hard time finding what they need. Oh, and running reports? Forget about it.  

Now, if you’re even more of a traditionalist, you might do all of your contract tracking on paper with physical copies of contracts filed away in cabinets or in binders. From a practical standpoint, anything of value that can be destroyed by fire, water, or theft should receive the maximum protection you can provide. 

From a human standpoint, let’s be real: we lose stuff all the time. Can you imagine the cost you’d be dealing with if you lost the physical contracts your business relies on? That’s time and money you can’t get back. Not to mention, search doesn’t work very well across paper files.

Excel vs. Contract Tracking Software: Which is Better?

💡Key note: As soon as contract volume increases, spreadsheets stop working. Software is the only scalable way to track contracts effectively.

RELATED: Best Contract Lifecycle Management Software

Contract Tracking Tip #2: How Can You Stay Ahead of Contract Deadlines and Renewals?

Deadlines sneak up when you’re busy. The only way to avoid them? Be proactive.

• Set reminders for renewals and obligations weeks (or months) in advance
• Block time weekly to review high-value contracts
• Give your team lead time to prepare for renegotiations

💡Pro tip: Even 15 minutes a day dedicated to contract tracking can prevent costly surprises.

Keeping track of contracts means staying proactive all the time. But how do you do that when a crisis comes up, when people are out sick, or when a global pandemic strikes?

The answer? No matter what you do at the company — whether you’re the CEO, a contract manager, or a summer intern with a surprising amount of responsibility — stay well ahead of all dates and deadlines. 

It’s easy to let contract tracking fall to the wayside, especially when you have fires to put out. But even when time is scarce, it’s important to set aside time for contract tracking. Whether you can swing 15 minutes each day or only 1 hour per week, make this a priority.

Regularly review your most important agreements and set alerts. Aim to give you and your team weeks (and perhaps months) of lead time to tackle each piece of the contract lifecycle. Contract management is a collaborative art. Make sure everyone has enough time to do it right. 

By establishing habits and strategies around contract tracking, your team can stay proactive all year long.

RELATED: Contract Lifecycle Management in 2025: How AI is Changing the Game

Contract Tracking Tip #3: Who Should Be Responsible for Contract Tracking?

If everyone’s responsible, no one’s responsible. The bystander effect is real — in business, too.

✅ Assign a dedicated “contract tracking owner”

✅ Let them delegate subtasks but keep oversight

✅ Ensure they hold other departments accountable

💡 Case in point: a company in Park City lost its entire business in 2014 after failing to renew a lease on time. Don’t let contracts slip through the cracks.

Time stops for no man, and it certainly doesn’t wait for contracts. Just ask that company in Park City. Ouch.

Unfortunately, without advanced warning or the occasional “heads-up,” contract management can quickly turn into a box-ticking exercise. If contract management seems more like a nuisance than a necessity, your team will be more likely to go on autopilot, rush the data review process, and make errors along the way. 

The number one way to stop that from happening while keeping contract management top-of-mind year-round? Designate one person to own contract tracking. Think of it like the bystander effect. The more people standing by keeping watch, the less likely it is for anyone to provide help. And while that specifically speaks to emergency situations and not contract management, the concept is the same.   Limit the number of “cooks in the kitchen.” Designate one person on your team as the ‘contract manager’ and allow them to delegate subtasks to different departments as needed. 

This person should also be in charge of holding others accountable. When employees have limited bandwidth, the contract manager should help your team stay focused. They can determine which contracts to prioritize and what aspects of a contract require close monitoring. 

Contract Tracking Tip #4: Why Centralized Contract Tracking Beats Scattered Systems

Scattered files = wasted time. If contracts live in spreadsheets, email, shared drives, and filing cabinets, no one knows what’s current.

Centralizing your contract tracking means:

✅ One secure place for all documents

✅ Easy search across all agreements

✅ Clear permission controls

💡 Scattered contracts = scattered brains. Put them all in one place and actually get stuff done.

Are you keeping your contract metadata in Excel and your contracts stored on a cloud-based Drive or (gulp) in a metal filing cabinet somewhere? Do you have a documented process for how this is all managed?

If you answered yes to the first two questions and no to the last, it’s time to make some changes.

Your contract management team needs to be able to clearly see, search, and locate contracts all in the same place. Scattered contract systems lead to unnecessary confusion, frustration, and lost time.

To create a more seamless contract management system — and to make sure you’re able to keep track of everything — centralize all relevant information.

Whether manual or automatic, analog or digital, make an effort to keep all certificates and documentation in one central location. A good, centralized system with robust permissions and search features means key players can easily find what they need, when they need it. You won’t just save money and time — you’ll save your contract manager from becoming a contract librarian.  

Contract Tracking Tip #5: How Can Contract Tracking Software Automate the Process?

Manual contract tracking wastes hours and invites errors. Software automates the work so your team can focus on strategy, not spreadsheets.

Key software benefits:

✅ Automated alerts and reminders for key dates

✅ Cloud storage with secure, remote access

✅ Instant keyword search (even for scanned PDFs)

✅ Unlimited users with easy permissions

✅ One-click reports and dashboards

💡 The bottom line: say goodbye to manual processes. Say hello to contract tracking software that keeps you efficient, compliant, and in control.

We live in the age of automation. Manual processes have been replaced with technology that does all of the heavy lifting for us. Saving us time, resources, and money.

When you embrace the contract lifecycle management software offered by ContractSafe, you make four powerful decisions for your business:

1. Establish a system. Now, we’re not about to get all emotional or anything, but that’s commendable. When you adhere to a system, you reduce the burden on overworked legal departments and contract managers. 

2. Eliminate the possibility of ever losing track of your contracts in the first place. By going digital, your contracts live safely in the cloud, backed up regularly, giving you security and peace of mind.  

3. Know how to search (and find) everything, fast. Anyone on your team (who has access) can search and find anything in a contract, in seconds (no tagging required).

4. Automate as much as possible. With the right automation, you and your team can focus on value-added activities.

Kiss manual contract management goodbye. Embrace technology and the countless benefits that contract lifecycle management software can provide. 

RELATED: How to Build a Rock-Solid Business Case for Contract Lifecycle Management Software

Track Contracts Better with ContractSafe

ContractSafe makes contract tracking simple for everyone on your team. Get set up in a matter of minutes and get the features you need without the B.S. (that’s bells and whistles, of course). 

We’ve got the technology, the centralized database, and a better system for keeping track of contracts. With ContractSafe your team can:

• Easily store and manage all your contracts in the cloud 
• Access important contracts from anywhere
• Speed search for everything (even scans!)
• Set email reminders and create reports
• Provide access to unlimited users with easy-to-manage permissions.
• Use our practical AI to find and track details instantly: Ask ContractSafe’s AI anything about a contract (dates, obligations, clauses) and get answers in seconds, without digging through documents.
• Reduce the potential for human error in tracking contracts.
• Implement a more user-friendly method of managing contracts — no more explaining complicated spreadsheet systems.

Above all, you’ll never lose your contracts in folders and shared drives again. 

Ready to simplify contract tracking?

👉Request a demo to see for yourself how ridiculously easy contract tracking can be with ContractSafe.