Your digest of news, events and articles from IACCM's global contributors.

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Welcome to the February Edition of the IACCM Contracting Excellence Newsletter. Your digest of news, events and articles from IACCM's global contributors.

 

 
 

IACCM What's New

Servitization - what on earth do we mean?

It’s quite simple really!

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Post Award Summary Report

The Value Compliance Uncertainty Framework 

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Commercial Awareness Program

For Better Business Outcomes

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Recent Articles

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Uncertainty Tops CEO Agenda, signposting a critical role for contracts by Sally Guyer

Last year, IACCM developed a new methodology for managing third party relationships. It is called the VCU Framework and at its core it is a tool to evaluate and manage uncertainty, while protecting value for both parties.

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Why do contract management tools fail? by Mani Agarwal

Despite procuring some of the most expensive contract lifecycle management (CLM) tools on the market, organizations often fail to achieve the required return on investment. Why is this?

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Hand with marker writing the word Performance

How risk allocation influences performance and adds value? by Natalia Ombach

Every contract negotiation aims at proper risk allocation. But what is proper to one party may not be so proper to the other. At that point, proper may no longer be objectively proper at all. So, how might we get it right? What does “proper” risk allocation look like?

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A peek into the future of commercial transactions: smart contracts, relational contracting and the IACCM principles by Lita Bollimpalli and Jerry Silber

At the IACCM’s 2018 Americas conference, sourcing and legal department representatives from some of the top companies in the world met to discover more about the future of contracting. The hot topics were: smart contracts, relational contracting and
the newly launched IACCM Contracting Principles.

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How to nudge a Performance-Based Contract (PBC) into real results – not just a paper trail by Dr. Andrew Jacopino

If you are producing or working with a Performance Based Contract (PBC), it means you want to reflect a fair and balanced perspective that benefits the performance of both the buyers and sellers. But a deeper look behind PBC development shows the process can get a bit complicated especially if parties disagree on what performance or fair and balanced behavior looks like.

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Business woman using tablet in home office mood with cryptocurrency bitcoin link network concept

How to embrace blockchains and smart contracts - an enterprise perspective by Christine Pauleau

Smart contracts, one of many applications of blockchain technology, offer automated solutions to facilitate commercial transactions and optimize their implementation. Thanks to smart contracts an agreement between two parties can be established automatically based on structured databases and becomes self-executing based on a computer code running on the blockchain that processes transactions without the involvement of any intermediary party.

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Businessman hand working with a Cloud Computing diagram on the new computer interface as concept

Integrated cloud architecture – why it ties to contract management by Russ Edelman

Before diving into the integrated cloud architecture deep end, you must first understand the challenges.

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Events

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Thought Leadership: Managing Supply Ecosystems

Supply chain visibility used to be a ‘nice to have’. Today, there is added urgency. Regulation, reputation, inclusiveness, cost, innovation -the forces vary, but they are driving a need for action.

However, gaining control and visibility into extended supply ecosystems is challenging. How deep should you go? How far can terms and conditions be flowed down and monitored? What tools, systems or platforms are available? And who is leading the pack - what does ‘best practice’ currently look like?

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Businessman shaking hands with a colleague in the office

Ask the Expert: The Tango Terms: Public master agreements for everyday business engagements

Our speaker, long-time IACCM member and part-time law professor D.C. Toedt (the last name is pronounced "Tate"), is developing the Tango Terms Master Agreement to serve as public, annotated, incorporate-by-reference terms for common business contracts, to help companies jump-start their dealings together as well as to provide newcomers with a resource for understanding how contracts work.

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risk management

IACCM Research Webinar: Third-Party Risk Management for BFSI

The IACCM report on Third Party Risk Management (TPRM) shows many in the Banking, Financial Service, Insurance (BFSI) community are making only limited progress. In fact, other unregulated industries are moving faster. Why might that be? Perhaps because Third Party Risk Management is seen as an unwelcome imposition and viewed only in the context of ‘risk’. That may be why it is proving hard to gain sustained executive attention – recent IACCM research showed that ‘preventism’ is a major turn-off for senior executives. In other industries, the drivers for gaining supply chain and ecosystem visibility are often very different – for example, cost reduction, innovation, inclusiveness, and social value.

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Automation & Systems

IACCM Capgemini contract automation software comparison tool

The market for contract automation tools and systems is complex, and IACCM provides a source of unbiased guidance that simplifies selection procedures for everyone

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IACCM Research

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Post Award Summary Report - The Value Compliance Uncertainty Framework (VCU)

The economic value of contracts is gained or lost during the post-award phase, yet a study conducted by IACCM has confirmed that there is no established 'best practice' governance model to safeguard their performance. This research, funded by the IACCM Research Forum has to lead to the creation of a new approach to the management of contract portfolios. This report provides a summary of one of the key frameworks within the research which establishes a new, structured approach to manage contract portfolios. It offers exclusive insights that have the potential to transform the efficiency and effectiveness of post-award contract management.

Third Party Risk Management (TPRM) - The Impact of Intelligent Automation and Data Analytics

The participants of this research represented a cross-section of the TPRM community including leading global advisory firms, TPRM providers, governance risk and compliance (GRC) providers and consultants committed to the continued growth of TPRM market capability. 'The Impact of Intelligent Automation and Data Analytics on Third Party RiskManagement Operations', represents the first and largest cross-organization, cross-industry TPRM survey, focused on providing the TPRM community objective insights that bring benefit for all participants. Third Party Risk Management (TPRM) is at a critical point in operational maturity. The motivation for this extensive industry collaboration of market leaders is to propel the TPRM community forward and grow TPRM capability. In addition to the survey itself, Global SRN facilitated a roundtable discussion including TPRM industry experts, practitioners, and platform representatives to discuss the implications of the survey results.

Request a Custom Survey

Featured Job Listings

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Contracts Specialist - United States, FL

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Commercial and Contract Management Roles, GA, USA

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Contracts Specialist / Contract Manager, Canada

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Recent IACCM Webinars

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Ask the Expert: Why we need the right Commercial Model to Drive Collaboration

The benefits of collaboration are legion. In the IACCM research report 'Unpacking Relational Contracts', we see that the role of collaboration in commercial dealings is becoming even more important as the new economy embraces more volatility, uncertainty, complexity, and ambiguity. How then do we ensure our commercial approach is crafted to maximize the value of collaboration and minimize leakage in our contracts? 

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Thought Leadership: Research & Analytics: the reshaping of CCM

Contract and commercial management are fast becoming scientific disciplines. Gone are the days when they were based purely on personal experience and judgment. As the body of research and the body of trained practitioners grow, CCM is acquiring new status and wide recognition.

Major corporations make extensive use of IACCM's research. Join us as we highlight some of the major findings from 2019 and outline plans for 2020, plus have IACCM members, Craig Guarente, Jacqui Archer, Henrik Lando, and Carol Savage, describe how they have used research and reports to raise their profile and Impact, both personally and for their function within companies that include IBM, Oracle, and BP, as well as academia.

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