Commitment Matters

If you are a professional in Contract & Commercial Management, committed to achieving the best possible outcomes from negotiations with all your trading relationships, then ‘Commitment Matters’ is the perfect source of regular articles and posts dedicated to helping you achieve that goal.

Tim Cummins

Recent Posts

Does your business need ‘pre-mortems’?

Posted by Tim Cummins

Oct 22, 2018 9:09:04 AM

A recent item on LinkedIn introduced the concept of a “pre-mortem” in decision-making. It suggested the need to explore the impact of an idea in advance – “one set of thinking is to explore if the project is a complete success, the other to explore the impact if the change made is a total failure. Imagine if Volkswagen had done a “pre-mortem” on their “cheat device” engineering? If Facebook had explored failure scenarios with sharing data with third party apps? If Wells Fargo had examined the operational impact of bonuses for new accounts? What if the moon mission in the 1960s had explored failure? Oh wait…they did. In fact, NASA is probably one of the more principled decision making bodies to examine countless “failure scenarios” and adjusting processes to reduce probability of negative events.”

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Topics: contract management, performance management, contracting excellence

Do unreasonable terms drive innovation?

Posted by Tim Cummins

Oct 17, 2018 9:06:00 AM

Suppliers understandably complain about the unreasonable terms and narrow evaluation methods used by some of their customers. They are often right to point at the failures that result from such behavior, when it results in incompetent and sometimes dishonest suppliers winning business that they have no chance of performing, or the burden of risk promotes an adversarial relationship.

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Topics: contract management, performance management, contract /commercial management

Collaboration is good – but it must be planned

Posted by Tim Cummins

Oct 2, 2018 5:30:00 AM

In recent years, there has been a steady push for increased collaboration. Businesses encourage it both wthin and between functions and with customers and suppliers. A survey by the Financial Times discovered that employers value graduates who have ‘the ability to work in a team, to work with a wide variety of people and to expand their network’. These were, in fact, the three top characteristics.

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Topics: contract management, organization & people

What do law grads do when they grow up?

Posted by Tim Cummins

Oct 1, 2018 5:01:00 AM

According to a recent report, almost 14% of the UK’s law graduates who move straight into employment are working as waiters or bar staff. That probably doesn’t reflect the aspirations they had when they started in law school, nor of course where their career will ultimately take them.

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Topics: contract management, organization & people, contract /commercial management

Contract management: the case for digitization

Posted by Tim Cummins

Sep 27, 2018 4:59:00 AM

In a recent blog, I highlighted the importance of a proactive approach to contract and commercial digitization. Many still hesitate – they want to know what benefits it will bring, they say they can’t obtain funding, they even ask ‘what is digitization?’. So I promised a series of case studies and this is the second of them. The core message: if you hesitate, you will have been left behind.

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Topics: contract management, contracting excellence, contract /commercial management

Can there be trust without transparency?

Posted by Tim Cummins

Sep 25, 2018 10:39:00 AM

There is a growing movement for transparency in contracting. Organizations such as the Center for Global Development and the Open Government Partnership are at the forefront. IACCM is a contributor and strong supporter of this work since it is fundamental to our mission of ‘improving the quality and integrity of trading relationships’.

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Topics: contract management, organization & people, contracting excellence

The use (and abuse) of commercial structures

Posted by Tim Cummins

Sep 24, 2018 10:36:00 AM

“Memorial Sloan Kettering is in turmoil over a deal officials made to share cancer patient data with a for-profit artificial intelligence start-up.”

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

Contract Management: Is it worth investment?

Posted by Tim Cummins

Sep 21, 2018 10:31:00 AM

Although senior managers understand that contracts are important, most do not grasp the challenges – or potential contribution – that are associated with contract management. On the surface, it seems such an obvious and straight-forward activity – and therefore struggles to gain investment.

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Topics: contract management, performance management, contract /commercial management

E-signatures – slow progress?

Posted by Tim Cummins

Sep 20, 2018 10:28:00 AM

In 2006, at an IACCM Americas conference, a group of senior attorneys ran a mock trial to test the enforceability of electronic signatures. They concluded that, subject to due process, such signatures are enforceable.

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Topics: contract management, contracting excellence

Digitizing contracts

Posted by Tim Cummins

Sep 19, 2018 10:33:00 AM

It’s 25 years since big corporations started to automate and streamline internal data flows and communications. Given the impact that these changes had, it doesn’t take a brilliant mind to recognize the scale of cost and inefficiency associated with today’s semi-automated external communications and the virtual absence of automatically shared data. Essentially, the success of an organization such as Amazon is in large part because it has automated commerce, stripping out cost and simplifying the customer and supplier experience.

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Topics: contract management, contracting excellence

About the Author


iaccm-team-tin-cummins


Tim Cummins

In his role as President of IACCM, Tim works with leading corporations, public and academic bodies, supporting executive awareness and understanding of the role that procurement, contracting and relationship management increasingly play in 21st century business performance and public policy.
 

Does Commitment Matter To You?

Commitment Matters is the personal blog of Tim Cummins, the Founder and CEO of IACCM. If you are a committed contracting professional and want to develop your skills and network, take a look at what IACCM has to offer.
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