By Tim Cummins, Executive Director, IACCM

Corporate Governance is More Than a Simple Expression. It Demands Systems, Processes & Skills.

At this time when Corporate Governance is such a major issue, the work of IACCM and its members has never been more important. Not only do we face difficult worldwide business conditions, testing skills and capabilities to the full, but there is also a major contribution that must be made to overall business integrity, through the quality of negotiating and contract management.

In recognition of this, IACCM is introducing the annual "Contracts and Negotiations Excellence Awards" that will identify and reward international companies with best of breed approaches to key aspects of process, organization and governance.

Through our annual benchmark series, we have developed the ability to identify critical performance measurements and characteristics in areas that include overall process efficiency, knowledge management, resource deployment and empowerment and organizational effectiveness - the characteristics that lead to Functional Excellence and Organizational Competence.

IACCM will launch these international awards at the 2003 IACCM Global Conferences in New York, London and Singapore.

The winner in each category will also present a case study outlining its achievements in this field. The 2003 awards will be based on our 2001 / 2002 survey data, drawn from approximately 60 major international corporations. In 2004, the contributing base will have risen substantially; at present, we have over 100 corporations committed to participate.

Contract management and negotiation are fields of corporate activity that have traditionally been overlooked. Yet they contribute significantly to business performance and efficiency. This is illustrated by the growing recognition of contract management software and the view of negotiation as a corporate competency. Our own member experiences illustrate the impact that improvement projects can deliver, with recorded savings from process or organizational re-engineering running into the hundreds of millions of dollars.

With risk management so high on the executive agenda, the need for quality and control in the management of contracting cannot be ignored. These awards will ensure the leaders are recognized and best practices are promoted.

As the leading global association in this field, IACCM is establishing appropriate partnerships with media and qualified judging organizations to assist in the promotion and development of this important initiative.

Rules for Participation

  • A copy of the final report will be made available to all participants.
  • Individual inputs are confidential and the report is available only to those who participate.
  • Optionally, benchmark participants can elect to compete in the excellence awards. To do this, they have to provide a case study that, in their view, indicates their outstanding success in contract and negotiation management. They must be prepared to present that case study at one of the IACCM conferences and be willing to have it published (with agreed edits if necessary).

For further information regarding the 2003 awards, please contact Tim Cummins at: tcummins@iaccm.com. For further information about IACCM please see www.iaccm.com.

The content of this article does not constitute legal advice and should not be relied on in that way. Specific advice should be sought about your specific circumstances.