This week I have focused on the findings of the UK National Audit Office in its investigations on the state of contract and commercial management. Few of its observations will come as a surprise to practitioners in this field. Indeed, it reflects many of their pent-up frustrations in the misalignment of contracting discipline with business value. The relegation of contract management to a subordinate and largely administrative / quasi-legal role has significant cost and revenue implications, as revealed by many IACCM research reports.
Risk management by definition is ambiguous and unpredictable, but it doesn't have to be. Picture a highly collaborative approach. It shares the risk instead of pushing it to the other guy and designs unified goals to better manage and reduce risk.
As a procurement organization you know how much you contribute to corporate profitability - but can you prove it? Author Richard Waugh tells why procurement organizations need to become true profit centers, reaching specific, measurable ROI targets if they want to avoid being outsourced to more efficient third parties.
Last week, the UK's National Audit Office provided Parliament with its latest reports on Contract Management. They are encouraging, in that they reflect the robust focus that government is placing on this discipline. At the same time, they reveal the depth of the challenge in driving improvement.
Regularly auditing your contracting process not only guards against contractual risk, but also avoids potential penalties for your business. How do you know, for example, whether or not your contract is 'bleeding' value? Could a penalty notice or unforeseen 'sticky' situation be around the corner?
In this 'Ask the Expert' webinar our expert, Richard Pharro, CEO, APMG, discusses one of the UK's most successful contracts in recent years, and how appropriate contracts and terms contributed to its success. The webinar considers the relationship between contract and commercial arrangements and the motivation and commitment of the parties involved to work as a coordinated and integrated team.
For years the analysts predicted meteoric growth - and it didn't happen. Now, the complaint I hear is that the analysts largely ignore contract management software and see it as a sub-set of ERP.
Many organizations claim to have a process for contract management, yet this claim often does not stand up to scrutiny. This becomes evident as soon as anyone starts to ask questions about process efficiency or effectiveness; quite simply, there is no data because 'the process' lacks an owner and is typically quite fragmented in its operation and oversight.
Business is awakening to the need for a more positive approach to contract negotiation. That is the encouraging news from IACCM's review of market trends in 2013. During the last year, the approach to negotiation has visibly started to change, with a growing number of executives pushing a more collaborative or partnering approach to their supply relationships. In this webinar we will review the results of the Top Terms in Negotiation, the most negotiated terms as found in the most recent research, those trends and the impact they will have on negotiations over the coming years.
IACCM provides executives and practitioners with advisory, research and benchmarking services, contract management certification and training for contracts, commercial and relationship management professionals. IACCM is a non-profit membership organization that supports innovation and collaboration in meeting the demands of today's global trading relationships and practices.