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Contract Management: A Critical Competency

April 22, 2014

Later this week, IACCM is running a webinar that sets out ‘Five Reasons Why Contract Management Is Becoming A Critical Competency’.

The discussion centers on a growing number of conversations with business and government leaders who recognize that contract management is fundamental to their goals. Today’s market conditions and the nature of trading relationships is transforming the discipline of contracting from a largely administrative task to a strategic imperative, contributing to growth, brand image, financial performance and enterprise risk management. The webinar will focus on five of the drivers behind this shift, which is affecting both sales and procurement:

  1. growing dependence on third parties
  2. growing regulation
  3. growing internationalism
  4. growing market demands for value
  5. growing pressure for collaboration

The session will also highlight the struggle that many incumbent contract management and commercial groups are having  to adjust to these demands. While they represent a very real opportunity to increase role and status, many practitioners remain absorbed by the tactical needs of day-to-day operations and are failing to develop the techniques, tools and skills they need for delivering ‘a critical competency’.

Details of the webinar can be found at https://www.iaccm.com/events/register/?id=1871. And for those who wish to change the game within their organization, IACCM offers its next conference in Copenhagen, June 16th – 18th.

And for those who are already sensing this shift in the status of contract management, what factors would you add to the list of drivers?

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