Contracting Excellence Journal

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A survey conducted by the International Association of Contract and Commercial Management (IACCM) shows that only 1 of 10 agreed that contracts are "easy to understand".  And only 17% were satisfied with the agreement process. These numbers are miserable.  Why is it so, what are the consequences, and what can we do about it?

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Topics: contract /commercial management, contracting excellence, organization & people, contract management, communication

Please note that this article is based upon an analysis of English case law.

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Topics: contract management, communication

I just spent over 6 months on and off negotiating a new liability cap into an existing contract for one of our clients -- countless meetings, reports, presentations, approvals and so forth.  Now the ink is dry, and I’d be amazed if we ever talk about it again during the remaining term of the contract.  

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Topics: contract management, communication

I started my hashtag #strongertogether in 2018 - well I have to admit I “adopted” it because needless to say (and at the time unbeknownst to me) it already existed elsewhere in many different contexts, particularly around areas such as sport and broader diversity issues. I’m certainly not precious or territorial about its use. Indeed, it is heartening to see so many people and organizations recognising the strength that comes from collaboration, from working together to achieve a common goal.

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Topics: strongertogether

You want your contracts to deliver value to your business, right? Who wouldn’t?  But do you know how many contract and commercial professionals fail to realize that collaboration with suppliers is essential?  The first priority is to plan specific strategic sourcing strategies to figure out what we will do ourselves and what we want from suppliers.    

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Topics: contracting excellence, contract management, communication

Without a doubt, contracts are the most important risk avoidance management and mitigation tools organizations sign. Ironically, many top executives know little about contracts and how they work to support the organization’s goals. Instead, many choose to delegate the responsibility for identifying and managing those risks to others often with few, if any, questions asked.

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Topics: contract /commercial management, risk management, contract management

Since the dawn of time, mankind has used myths to make sense of the uncertainty that surrounds us. More recently myths have crept into risk management and business projects. Although risk myths have some basis in truth, they fail to accurately represent reality. Here are top ten risk myths and counterpoint rationale showing how to counter the myths.

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Topics: contract /commercial management, contracting excellence, communication

 

Let’s say you missed a delivery deadline, or an early settlement discount, or an opportunity for a bonus – all of which were specified in the contract.  Any of these errors could hurt the bottom line in business.  Could you justify leaving money on the table, because someone in the organization was not aware of a contract clause?   Of course not!

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Topics: contract /commercial management

What can Artificial Intelligence (AI) do for contract management and what will it require?  Our author proves that AI is already pushing contract management processes toward faster and smarter results.  Chances are you will want to be in on it.  

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In this article, author Julien Nadaud tells how one word – influence -- can empower procurement strategies to literally put top value into the outcomes all parties seek.  He cites three case studies that prove his point. 

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