How can we track usage for a contract which is still not billed to customer?

Summary: The billing cycle is Quarterly. We want to know the usage in between quarter for the contracts. Is there any standard way to track it?

Content (required): The customer should be regularly updated on usage. This is also required before renewal. Is there any out of box feature to track it.

Version (include the version you are using, if applicable): 21B

Code Snippet (add any code snippets that support your topic, if applicable):