During a recent webinar, a participant asked whether there is such a thing as a ‘contract quality index’ – some method or algorithm by which an organization might judge its contracts.
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.
During a recent webinar, a participant asked whether there is such a thing as a ‘contract quality index’ – some method or algorithm by which an organization might judge its contracts.
Topics: contracting excellence, performance management, contract management
Non-compliance is risky. It leads to fines, job losses, reputational damage, lost sales. Since it is so important, businesses make substantial investments to reduce the chance of breaches – and of course a major element of those investments is people: reviewers, approvers, auditors, compliance experts.
Topics: contracting excellence, performance management, contract management
Many organizations do not have a well-defined, end-to-end contracting process. Frequently, contract-related activities appear as sub-elements in other processes – for example, in Product Lifecycle Management, Procurement or Project Management.
Topics: contract /commercial management, performance management, contract management
According to IACCM’s most recent benchmark survey, some 92% of corporations operate with standard template agreements. In the traditional ‘battle of the forms’, the buyer templates are generally the winner. That typically means that both sides lose.
Topics: contracting excellence, performance management, contract management
Some years ago, I was asked to speak at a meeting of the supplier management staff at a major bank.
Topics: performance management, supply chain management, contract management
Contract success is directly impacted by the motivation of the parties. Research increasingly shows that traditional forms of contract are demotivating and therefore can be directly responsible for under-performance. The way that terms are expressed, the extent to which they mandate specific actions and the degree to which they provide a relational structure are of particular importance.
Topics: contract /commercial management, contracting excellence, performance management, contract management
Topics: contract /commercial management, contracting excellence, performance management
I was recently asked by LawGeex, an AI technology and analytics provider, to update an article I wrote in 2011, estimating the typical cost of producing a contract. Here is the result.
Topics: contract /commercial management, performance management, contract management
At the end of each IACCM conference, we like to summarize key themes. Today, I am featuring the observations of Sally Hughes, IACCM’s Chief Operating Officer.
Topics: contracting excellence, performance management, risk management, contract management
New research will be presented at the IACCM Americas conference next week. It shows that levels of trust in outsourcing relationships are often weak or non-existent. Not surprisingly, where trust is low, disappointing or failed results are not far behind.
Topics: procurement, performance management, organization & people
Tim Cummins
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