This week, my major focus has been on technology and its likely impact on the world of contracts and contract management. It included a day at the MIT Labs, meeting with academics, legal and technology experts and then proceeded with a West Coast tour that embraced Los Angeles, Silicon Valley and San Francisco, having discussions with technology start-ups and several of the more established providers. In each location, we also convened meetings with local IACCM members.
So what did all those conversations lead me to conclude?
Far from eliminating contracts and contract management, it is technology that is making them more important. It is also making them far more visible and transparent. So those responsible for contracts face both a challenge and an opportunity – to modernize, make fit for purpose and then deliver increased value.
Trading relationships are key to business – indeed, key to global development. Digitization and networked technology…
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