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Banking, Financial Services and Insurance

 
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IACCM Council Representatives
Network Leads

THE IACCM BANKING & FINANCE NETWORK

The purpose of the banking and finance community of interest is to provide its members with insights to new trends and emerging practices in the fields of contract, commercial and relationship management. While these will be in the context of the banking and finance sector, they will draw from knowledge and ideas that are current and relevant in other sectors and those related to the industry. A key goal is to improve the performance of contracts and relationships.

The objectives will be met by sharing ideas, discussing challenges, exploring new directions and, where appropriate, initiating research or inviting experts to present on key topics related to contract, commercial and relationship management.

Meetings will be virtual (by phone or webinar) unless in specific cases there is an agreed wish to have physical meetings or workshops to develop specific initiatives.

Group Mission/Vision: Provide its members with insights to new trends and emerging practices in the fields of contract, commercial and relationship management.

 
 
Network Updates

End of Life hardware costs

Recently, when reviewing the costs built up in a Service & Support contract noticed we had accounted for an "excessive" amount of hardware upgrades. I thought we had overestimated these costs, but we are talking about a 5 year contract and I can see now the rapid evolution of the technology and regulatory pressures to change existing hardware that reached the End of Life. I can see now we had properly estimated those costs.

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Most Negotiated Terms Podcast and Survey

Our podcast explores some interim findings from this year's Most Negotiated Terms survey, which illustrate the topsy-turvy nature of the current business environment. Increased levels of disagreement, yet a trend towards greater harmony; continued focus on risk consequence, but supplemented by terms that better anticipate and manage uncertainty.

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The end of Procurement

Hello Tim I found your article very interesting. I agree that procurement struggled for years to prove its real value, and it is still struggling. Firstly. Until the procurement staff performance is measured on monetary savings mainly and their work considered purely administration, it will be difficult to make any changes. The demand need to come from senior commercial leaders. The targets set for procurement staff are quick turnaround time and monetary savings. There is very little time to build relationship! Question. If the new technologies will make procurement quicker, with less or without people, would the relationship element be pushed back even more? No need to lift the phone anymore or meet in person! While I can hear that you would have more time to interact with suppliers. That is not, what I can see, but increasing volume of work, as you can do procurement quicker. In my view, the senior commercial leaders need to understand the benefit of relationships in business, set the direction and support the staff to achieve it. Support means not only sending a person on course but show it how it is done. Really seen nowadays! Secondly. I am always interested in self-development. What do you think what skills should we should concentrate on?

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