Ten pitfalls
It’s obvious that contracts sometime fail to produce the results that people look for. But how many, how much and what are the causes?
That information was missing so World Commerce & Contracting started to gather data from its members (now over 70,000 from over 100 countries).
Initially, they found that almost 40% of contracts don’t deliver the financial benefits that were expected which was costing businesses an average of 9% of their annual revenue.
To reduce this figure, they needed to understand the causes so they encouraged their member companies to start to look in more detail at what were the actual underlying sources of those losses.
In this video, Tim Cummins, President of World Commerce & Contracting, reveals the top ten pitfalls in contract management.
A one page summary of the WorldCC Ten Pitfalls is available to download (in PDF format) from the bottom of this page.
WorldCC have collated support materials specifically for this course in the form of research reports, blog posts and webinar recordings. You can access them via the link at the bottom of this page.
Contract Management: Building Relationships in Business
Contract Management: Building Relationships in Business
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