Only 29% of organizations are actively monitoring the profitability of their contracts. That’s just one of the findings in IACCM’s latest benchmark research, which gathered data from 752 organizations.

I was startled to learn recently that there are 6.5 million people on LinkedIn who identify themselves as Contract Managers. That’s a remarkable number.

As we enter 2019, what are the key focus areas for improving contract and commercial management? IACCM gathered data from approximately 750 organizations to discover their plans and priorities.

Five categories, five awards – the winners to be announced in Madrid on May 13th, 2019. IACCM is inviting entries for its prestigious program that recognizes Innovation & Excellence.

An article in a legal journal recently hailed the rise of new specialisms within the legal community, implying that these represented a sign of health for the overall profession. As an example, it cited the emergence of a handful of specialists in the use of e-mojis in contracts or legal judgments. It might equally have pointed to others who are striving to make contracts intelligible through the use of graphics, or perhaps those who push for standards in style. Such individuals are actually at the forefront in trying to address market needs and realities. Although they are often dismissed by their colleagues as odd, quirky, perhaps even viewed as a threat to professional norms, it is these individuals who keep a profession healthy and relevant. They are key to its survival and, arguably, are the ‘true professionals’.

Tomorrow, January 30th, is an important date in my personal calendar. It is the 370th anniversary of the execution of King Charles I of Great Britain, who fell victim to a fundamental disagreement over scope and obligation management. Many would argue that he also suffered from a lack of negotiation skills. Unfortunately for him, neither he nor his followers were members of IACCM and the records suggest that in any case he would have ignored advice. Ultimately, he paid a heavy price for his failures at dispute management.

How effective can public procurement be in achieving social and political goals?

Contracts ‘set the tone for the relationship’, especially in more strategically important interactions. The design of the contract, the way it is worded and negotiated, all have a psychological impact on the parties, influencing the way they perceive the counter-party and subsequently behave.

IACCM is about to enter its 20th year. Back in 1999, very few people cared about commercial or contract management. While they existed as job titles, there was no consistent definition of role or purpose. I remember a common reaction to IACCM’s incorporation was “It will never survive”. Now, so much has changed ….

As we enter a new year, it is a time when many people wonder about their future. The holiday period causes many to reflect on whether they are doing the right thing, in the right place, with the right people.