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At a recent roundtable discussion1 on the topic Blockchains & Smart Contracts from an Enterprise Perspective, speakers1 answered many questions we are all curious about.  Our author attended the event and wrote the following discussion outline surrounding the issues and what the future looks like.   

Smartcontracts blockchain perspective enterprise

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Last year, IACCM developed a new methodology for managing third party relationships. It is called the VCU Framework and at its core it is a tool to evaluate and manage uncertainty, while protecting value for both parties.  In December, we started work with a group of leading members to operationalize this exciting new approach.

IACCM contracts methodology VCUFramework IACCMmodel

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If you are producing or working with a Performance Based Contract (PBC), it means you want to reflect a fair and balanced perspective that benefits the performance of both the buyers and sellers.   But a deeper look behind PBC development shows the process can get a bit complicated especially if parties disagree on what performance or fair and balanced behavior looks like. 

contract PerformanceBasedContract performancebased PBC

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“Whether you are filing a purchase order, packaging and labelling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms® rules are there to guide you.” 1

Incoterms globaltrade

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At the IACCM’s 2018 Americas conference, sourcing and legal department representatives from some of the top companies in the world met to discover more about the future of contracting.  The hot topics were:

IACCM Smartcontracts commercialtransactions relationalcontracting future iaccmprinciples

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Every contract negotiation aims at proper risk allocation. But what is proper to one party may not be so proper to the other. At that point proper may no longer be objectively proper at all. So, how might we get it right?  What does “proper” risk allocation look like?

performance management risk management risk contract value

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Despite procuring some of the most expensive contract lifecycle management (CLM) tools on the market, organizations often fail to achieve the required return on investment. Why is this?

contract management contract tools

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The 2019 International Civil Service Effectiveness (InCiSE) Index has been published today by the Blavatnik School of Government at the University of Oxford. The index aims to help countries determine how their central civil services are performing and to learn from each other. The full story is at https://www.bsg.ox.ac.uk/news/new-index-ranks-uk-civil-service-top-followed-new-zealand-and-canada and it makes fascinating reading.

procurement government procurementmanagement

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Enterprise Resource Planning, or ERP, was a key driver of business transformation over the last 25 years. Today, it is the management of external relationships that needs urgent attention. By streamlining these commercial operations with RRP, organizations can potentially reduce operational costs by at least 20% and generate improved revenue and savings from their trading relationships. 

relationship management

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We all have dealt with a contract at some point in our lives but now, we stand at a crossroads between manual and automation – and to the extent possible, it’s time to switch.   The first choice should be smart contracts. 

contract management contract Smartcontracts

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