Thought Leadership - July 2021: Can the contracting process improve without an owner?

KPMG is pleased to provide you with the link to a new publication, a collaboration between KPMG Law and World Commerce & Contracting called 'Can the contracting process improve without an owner?' It examines issues in current contract processes and tackles them head-on, with views from roundtable discussions on commercial contract management from over 40 executives supplemented by input from more than 300 survey respondents worldwide. Only 10.8% of organizations consider their end-to-end contracting process to be “very effective”. As one research respondent commented, “Getting a contract is like having a root canal”. Cost was also an area of contention among respondents, with the least efficient processes reportedly averaging more than US$10,000 per contract, simply for reviewing and processing activities. It’s widely acknowledged the contracting process is inefficient, costly and slow because of one simple reason – no one owns it. To deliver greater value while respecting competing priorities, political tensions and concerns of multiple stakeholders, the report authors believe the solution is the creation of an Office of Contracting (OoC). The OOC would be a small group responsible for all contracts across the enterprise and the process surrounding it. They would work in harmony with the multiple functions, coordinating and coalescing. KPMG invite you to join us for a reading and discussion with KPMG on this thought leadership. — Download the report in English