The speed and intensity of COVID-19 rapidly exposed weaknesses in communication and the consequences of poor collaboration.
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Topics:
contract /commercial management,
technology,
IACCM,
organizaton,
Online Communication and Collaboration
It often takes a crisis to better understand the value of things or people that were previously seen as minor or peripheral.
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Topics:
contract /commercial management,
technology,
IACCM,
organizaton,
contract automation,
supply chain,
gearbox
When looking at the benefits of automation, there tends to be a strong focus on direct and measurable efficiency and economic gains. There may be mention of a notional side-benefit of ‘freeing up people to perform higher-value activities’ – though it is more likely that the CFO will have a greater focus on headcount reduction than redeployment.
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Topics:
contract /commercial management,
technology,
IACCM,
automation,
talent
Effectively managing suppliers is not easy. In many cases, the tools and systems that support supplier management are at best rudimentary. Indeed, a report released this week by the Supply Chain Research Council reveals that Excel spreadsheets 'remain the most commonly used analytical tool'. Not an especially powerful way to gather, analyze or act upon data.
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Topics:
contract /commercial management,
technology,
IACCM,
supply ecosystems,
customer support,
Uber,
supply chain
Back in 2017, IACCM published a report on the state of contract management software. Since then, its findings have been much cited by analysts and consultants. This is what we said:
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Topics:
contract /commercial management,
technology,
IACCM,
contract lifecycle management,
which CLM,
Do contract management systems work?,
contract automation
A new decade is almost upon us. It’s the decade of RRP - Relationship Resource Planning - when a great wave of efficiency and cost reduction will be achieved through streamlining the management of external relationships.
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Topics:
contract /commercial management,
relationship management,
commercial management,
technology,
communication,
IACCM,
RRP,
commercial analysis
The ideas behind value engineering are not new. In fact, they go back to the 1940s, when the construction industry in particular was seeking new and more scientific ways to guide its purchasing decisions. It would not be unreasonable to assume that the methodology and its use would have matured by now. But you would be wrong; it has actually gone backwards.
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Topics:
contract /commercial management,
procurement,
technology,
communication,
IACCM,
value engineering,
Architectural products,
risk,
sustainability
At a recent IACCM roundtable, participants discussed the seemingly insoluble issue of maximising value from supply relationships. It was widely agreed that loyalty and collaboration are important characteristics, since they support more open communication and opportunity evaluation. Yet loyalty and collaboration depend on levels of long-term trust and integrity that are rarely achieved. The key issues – especially for buyers – are ‘How do I stop suppliers taking advantage of me and how do I ensure I’m not overpaying or missing out on innovation?’
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Topics:
contract /commercial management,
technology,
contract management
When it comes to cutting costs, spend on external counsel is the primary target for in-house legal teams. In a current IACCM survey, 74% of participants say they are using fixed fee arrangements, detailed billing reviews and panel discounts.
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Topics:
technology,
contracting excellence,
contract management
Organizations that institute greater controls over invoice payment achieve, on average, a benefit of around 4.3% of invoice value. That represents a lot of money – so it is worth reading on!
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Topics:
technology,
contract management
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