I was talking with my friend and her daughter last week, explaining a bit about what I have been doing lately when her daughter asked me a question—why would I choose a career in contract management?
She caught me a bit by surprise but caused me to think about my motivations for staying with a profession I have known and loved for over 35 years. I have seen it rapidly evolve during that time and I guess that’s what has kept my interest.
I entered the working world thinking of this work as just a job and eventually this became my passion. But why? And what advice could I give my friend’s daughter to entice her to think about a career in contract and commercial management?
Because many people prefer “lists” over paragraphs, I came up with the following Top 5 reasons for choosing a career in contract and commercial management, in no particular order:
- As a contract manager, you are an important part of the business. When developing and managing contracts, you work with and touch on just about every aspect of a business organization—legal, diversity, ethics, finance, delivery, procurement -- and sometimes even the Chief Executive Officer (CEO)!
- Contracts are truly the “crown jewels” of the company and you are the jeweler, guarding and cultivating the jewels. Without sales contracts, a company wouldn’t have revenue and growth. Procurement contracts keep the company functioning cost effectively. Every new contract is an exciting new story.
- Career growth potential is unlimited, within and outside a contracts and commercial organization. The business experience you gain prepares you for many exciting roles. The more experience you gain, the more there is to explore.
- There’s a whole world out there managing the scope, deliverables, and obligations once the contract is signed. Here, you can really make a difference to the corporate bottom line ensuring there’s no revenue leakage or helping to generate additional revenue.
- Contract management is ripe for technology-focused innovation. The introduction of Artificial Intelligence (AI) and Robotic Process Automation (RPA) provides endless opportunities for building efficiencies in contracting processes. It’s a relatively unexplored and exciting opportunity for technology-minded individuals looking for a challenge.
This is only the tip of the iceberg. The exciting projects you can be involved in and the business decisions that depend on a thorough understanding of a contract are daily activities that make the job different each day. No two days have ever been the same for me and likely that will be true for all. The mind is always active and engaged.
So, the next time I talk to my friend and her daughter, I’ll be ready with an answer on why a career in the ever-evolving field of contract management is worth pursuing. On second thought, why wait? Who knows? Maybe she’ll be joining me! And what about you?
ABOUT THE AUTHOR
Nancy Nelson, president, co-founder, and senior consultant with ABiz Corporation, is currently serving on the World CC Global Council for India.
At ABiz, she helps companies implement contract management best practices and provides them with a full scope of cost effective and high-quality services. Nancy’s skills span all aspects of commercial and contract management for both the buy and sell sides. Her multicultural experience results mostly from living and working in India and managing global teams.