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.

Will new technology mean the end of term agreements?

Posted by Tim Cummins

Aug 31, 2018 6:33:00 AM

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 management, technology, contract /commercial management

New technology not a big deal for in-house counsel

Posted by Tim Cummins

May 22, 2018 11:10:00 AM

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: contract management, technology, contracting excellence

Invoice accuracy: problem or opportunity?

Posted by Tim Cummins

May 18, 2018 10:58:00 AM

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: contract management, technology

Digital reinvention of contract management: does it matter?

Posted by Tim Cummins

Apr 17, 2018 7:15:00 AM

There is a lot of buzz about digital reinvention (a term popularized by McKinsey consultants), digital transformation and digital disruption. By whichever name you call it, it’s importance cannot be understated.

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Topics: contract management, technology

What will it take to be ‘world class’?

Posted by Tim Cummins

Feb 4, 2018 9:35:53 AM

There is extensive discussion about emerging technologies such as artificial intelligence, natural language processing and blockchain, with wide acceptance that they will have significant impact on contracts and contract management.

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Topics: technology, contract management, contracting excellence

Contract Management: Poised for Transformation

Posted by Tim Cummins

Jan 22, 2018 7:24:44 AM

As we enter 2018, the divide between today’s outdated contract management practices and tomorrow’s technology-enabled reality is becoming starkly obvious. It was Warren Buffett who segmented the business world into innovators, imitators and … the rest.

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Topics: contract management, contracting excellence, technology

Legal Tech: Use With Caution

Posted by Tim Cummins

Nov 30, 2017 3:11:20 PM

IACCM’s recent study of the state of contract management automation revealed low satisfaction ratings and poor levels of adoption. While there are some very successful instances of implementations led by the Legal function, in general systems selected by Law Departments were especially prone to failure – in fact more than 40% more likely to be underperforming.

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Topics: contract management, contracting excellence, technology

Contracting with emojis

Posted by Tim Cummins

Aug 31, 2017 3:06:18 AM

We have all heard the demands for simpler, shorter contracts. Most of us sympathize with the view that plain language and thoughtful structure assist with interpretation and understanding.

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Topics: organization & people, technology, contract management

Automation is creeping up on you

Posted by Tim Cummins

Aug 16, 2017 3:05:35 PM

Contract management technology has been around for almost 20 years – and has had remarkably limited impact. While some administrative tasks are now widely automated, the bulk of contract management still depends on human intervention and knowledge.

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Topics: technology, contract /commercial management, contracting excellence

Avoiding the scrap heap!

Posted by Tim Cummins

Jul 27, 2017 3:55:36 AM

When it comes to complex contracts and negotiations, scrap metal may not be the first thing you think of. But a recent edition of the Canadian ‘Globe & Mail’ tells us otherwise: “Despite the technological developments in the industry, the trust needed to do business effectively requires a face-to-face approach”.

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Topics: contract /commercial management, technology

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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