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Contracting Excellence Magazine - Nov 2007
A recent article in BNET highlighted the challenges our community faces in a world where innovation is moving at an increasingly rapid pace. ‘Perfectionists Despair: In The Digital World “We are always in Beta”’ quoted CEO Jim Buckmaster, who suggests our world today is driven by the need to ‘put speed over perfection: get something out there. Do it, even if it isn’t perfect’. What does this mean to the world of contracts and relationship management?
What is the 'right' price? How do you make commercial decisions on pricing - and what impact will shifts in pricing policy have in the market? An article from Wharton suggests that most companies lack sophistication in this key area - and that suggestion aligns with IACCM's recent findings.
There are many people in contract management who would like to get management’s attention in order to drive investments that would improve the process. The problem is, there often is no real process, because executive management hasn't understood the need. Steadily, good data is starting to emerge.
IACCM's October e-zine, Contracting Excellence, highlighted the growing importance of supply chain integration to support market demands for faster and more extensive performance commitments. As if to emphasize the point, Wal-Mart announced its intent to actively monitor the ability of its suppliers to support its 'green' policies. More tough contract negotiations - or will suppliers have to find new ways to demonstrate their 'green credentials'?
Earlier this year, IACCM conducted research on the use of output-based measures in contracting. We explored levels of adoption, plus the benefits and inhibitors. Now, IACCM member Blake Newport has expanded on that research in an article published by the British Computer Society.
Eric Schmidt, CEO of Google, wrote in the Financial Times (19 September) about global privacy standards. He is just one of a growing chorus of CEOs commenting on the role of trust in the global economy — and recognizing the inadequacy of traditional (legally-based) systems and remedies.
There was plenty of movement in the contract management software industry in September, with the announcement that Versata acquired Nextance and that Ariba will be acquiring Procuri. Many will ask whether this spells the end of an era - is contract management software dying, or have bigger players recognized its potential and are snapping up the early developers?
How organizations can benefit from a collaborative culture, and even turn around their fortunes, will be the theme of the next issue of Contracting Excellence in November. Authors contributing to this issue, through their own stories and case studies, discuss how you can use collaborative methods to achieve competitive advantage.
This newsletter is intended to keep readers abreast of current developments in the field of contract and commercial management. It is not, however, to be used or relied on as a substitute for professional advice. Before acting on any matter in the areas, readers should discuss matters with their own professional advisers.
IACCM is not responsible for the accuracy or content information contained in this publication or in the links provided. Links to and from IACCM do not constitute an endorsement by IACCM of the parties or their products and services.
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