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Too much value is lost through weak governance, in particular of large and complex contracts and relationships. We will identify why governance is weak, and how to strengthen it, beyond the carefully drafted words in the contract.
Note that many large and complex relationships require a transformation of how the work is performed today, hence the necessary integration of “Transformation.”
We plan to bring practitioners (lawyers, clients & outsourcers) and academics together to capture a maximum breadth of perspective.
Group Mission/Vision:
We will identify the causes of value leakage and help define best governance practices that drive economic and strategic achievements.
These days, organizations invest heavily in compliance. It's important, but done the wrong way can have disastrous results.
I'm looking for a Template/Process Document/Check list etc. which can be used for smooth hand over of the contracts from Sales to Delivery. It would be really a great help if someone can suggest any such template/checklist/process document/best practices which can be leveraged during contract hand over? Best Regards, Anirban
A survey among alliances & partnerships professionals in Europe and Asia resulted in 5 themes that these professionals see as their main challenges in their work for 2020. Except for the specific outside circumstances most of these themes are not new in 2020, yet appear to be continuing challenges in our profession. Some of the challenges the respondents see can be handled by a solid governance structure most by rigorous alliance management. A short article about the preliminary findings can be read here: https://www.petersimoons.com/2020/01/2020-challenges-in-alliances-partnerships/
Hi All, I am a fresh member of the portal. Looking for some insights in regards to defining KPIs. We are a team of 3 Contract Managers and our manager has asked us to define KPIs and create a dashboard biweekly for her to have an insight of what we are doing. I believe the next step will be having score cards to measure the performances. I have been searching the web and thinking about this deeply for some time now. I was only able to come up with 3 KPIs but still need to define 1 more. And I am not sure if this has been answered before. Is there a document I can relate on to? Would appreciate any leading. Thank you in advance.
Hi All Does anyone manage a JV contract and would be willing to speak to me? My team are managing a JV where we are both a joint owner with two other societies, plus we supply also them with a few services. I would love to speak to someone who is also in this position and can discuss the governance structure they have set up ect. Hopefully, someone out there will be able to spare me some time to discuss the pitfall and best practice they have encountered. Thanks Jan
Going into the new year, the pace of business continues to increase. With the rapid speed at which organizations now operate, the likelihood of introducing errors into your contracts are at an all-time high largely due to dated and manual contract processes. But you can level-up your Contract Management for the New Year.
Hi Would anyone be happy to have a discussion with me, or give me some pointers on managing a JV where you are both a customer, supplier and a shareholder? It would be good to understand how other companies navigate this tricky relationship and if there is any IACCM best practice I should adhere too? I have different contract managers who are responsible for the customer and supplier side to eliminate any conflict of interest, but the whole governance is so much more complex than a straight commercial arrangement. Therefore, if anyone has any experience or observations they would be happy to share, I would really appreciate your help. Kind Regards Jan
The International Association for Contract and Commercial Management Inc (IACCM) announces its acquisition of Global SRN LLC.
Hi All Is there any standard in terms of stakeholder satisfaction in IACCM contract Management? We have sent out surveys (which our stakeholders had input into regard the questions they wanted to score us on) We have received some great feedback and suggestions for improvements. Whilst I think a satisfaction score of 81% is very good, I have nothing to compare it with. I know all survey are different in terms of the questions, but to put this result into some context it would be good to understand if any work has been done on what good looks like in terms of satisfaction scores in other companies? I would love to hear any views people are happy to share, as my Director would like to share these results with our board but unless we can put them into context in terms of best practice, they are just a score which doesn't tell the wider audience that much without the wider context! Kind Regards Jan
A shift in procurement practices from awards based on price to awards based on value is much discussed and, for most people, long overdue. All the evidence suggests that many organizations continue to struggle with making the change.
I like the idea of asking new employees what their learning style is during the onboarding training period. I too am a visual learner, so by seeing and doing the work first-hand during training helps me to learn better and faster. Good idea as it helps promote inclusion and diversity and increase employee morale as not everyone's learning style is the same and should make the employee comfortable in a new environment.
What would you change about your contract management processes if you could? If you could start with a clean slate what would you do differently? Would you know what to do differently? Paola Hernandez does.
I note that the post is from November 2015. Would you say that the statistics for these 10 have remained the same in 2019? Is it possible to get more information about the survey that was conducted, where did the input come from? For example, what is the 9.2% financial benefit / Erosion based on?
For Agreement between the Parties of differnet origin , the aurgument starts up on Jurisdiction and governing law for the AGreement. while both the Parties are interested in proposing law of their respective country to be made applicable to the AGreement, I want to know whether there is any list of prioritised or ranked Jurisdiction/ Govering law like World bank ranks each country a ranking for " ease in doing business" and almost 190 countrites are listed. For example, I propose indian law and other Party would prefer Laws of Singpore to be governing law. Can parties choose England and wales as nuetral or any other preferred law.
My company is looking into a new CLM solution, and I'd love to hear from other companies what experiences they faced in the RFP/RFI phase or selecting a CLM vendor, implementation experiences, and post deployment user experiences. What went well and what didn't go well? Which specific areas did the CLM not meet your or your stakeholders expectations?
We are an IT service provider.I am researching on best way to provide reasonable assurance top management on Compliance status against Contract terms. This requires us to check if all Obligations,Milestones,Commitments etc are being met both at our end and any commitments from customer as promised in contract. Idea is to identify and fix deviations from contract terms , Reduce revenue leakage or Cost/Scope creeps. My strategy is (a) Review contracts before signing and call out Important terms to stakeholders (b) Assist proper handover of contract from Sales to Operations teams identify Owners to terms (c)Conduct Compliance Audits on Key accounts to assess compliance (d) Share lessons learnt back to Sales/Operations etc. (e) Use Self assessments by Operations where we can't reach them due to bandwidth issues Any Suggestions on how this can be made better ?
A great document on the 6 key elements for robust governance of a commercial relationship.
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