Many companies that sell services are losing money and opportunities due to value leakage in their contract portfolio. Value leakage occurs when revenue or cost savings that were supposed to be generated by a contract are not fully realized, due to various reasons such as poor contract management, lack of visibility, inadequate metrics, and human error. This can erode the bottom line, damage the reputation, and reduce the chances of future business.
[Read more…] about How To Prevent Value Leakage in Your Contract PortfolioContract Management
Accountability in Contract Management: The Contract Owner
I want to share some thoughts about one of the key roles in any contractual situation, that of the Contract Owner. I personally am a “sucker” for accountability and as contracts have an objective (and that is not just: I want to buy or sell something) there is always a business owner of a contract….
[Read more…] about Accountability in Contract Management: The Contract OwnerThe Role of Chief Ecosystem Officer, a Different Kind of CEO
If I was working today in a large corporation I would not call myself wizard but probably CEO. Not because I have that power level dream (once I did but entrepreneurial life is way more fun) but because the title can be another acronym….
So let’s talk about the Chief Ecosystem Officer.
[Read more…] about The Role of Chief Ecosystem Officer, a Different Kind of CEOBusinesses need a dedicated chapter on cybersecurity in all of their contracts
A specific field of play when managing contracts is about the importance of cyber. Today a small dive into the relevance and why I think every contractmanager should understand it a bit.
[Read more…] about Businesses need a dedicated chapter on cybersecurity in all of their contractsSuccessful Risk Management Strategies: Self-Risk Assessment
Self-risk assessments are a vital component of any successful risk management strategy. By taking the time to assess and analyze potential risks associated with a contract, you are better equipped to manage any issues that may arise and ensure a successful outcome. This needs to happen before you enter into a contract (so our lawyer friends can have a field day in describing clauses) but even more during the execution stage of a contract where you are confronted with change all the time.
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