October 16 by Steve Feyer
As the premier organization for contract management professionals, the International Association of Contract and Commercial Management (IACCM) is on the cutting edge of research and best practices in contracting. The IACCM Americas conference, held on the Toronto waterfront last week, brought together the best of the past, present and future of contracts.
The Past: IACCM Grows Up
This year, IACCM marked its 18th year since inception, providing a perfect opportunity for nostalgia and reflection. Looking back, there can be no doubt that the organization has reached adulthood, growing to more than 43,000 members globally. Hundreds of delegates attended IACCM Americas, just as they have come to meetings in Europe and across the world drawn by IACCM’s expertise.
Here at Apttus, we were delighted to host the toast to IACCM’s first 18 years, welcoming dozens of our customers and friends to a dinner in IACCM’s honor.
The Present: Companies Succeed with Contract Management
The IACCM Americas conference was full of success stories from companies who are using Apttus Contract Management today. We were especially thrilled to see our customers be recognized for their work at the IACCM Innovation Awards.
Apttus customer Avanir Pharmaceuticals was recognized for the personal initiative of General Counsel Garlan Adams, who spearheaded a contract transformation project for her company. Her team was able to move all contracting over to Apttus on Day One of her deployment, achieving full adoption immediately. They did it with meticulous planning and exceptional partners, driven by a focused vision for the business.
Contract Manager Joseph Le accepted the award from IACCM Founder Tim Cummins on behalf of Garlan and Avanir.
Apttus was recognized as an outstanding service provider because of the success of our customer Thomson Reuters Legal. As Apttus Senior Director Jason Smith explained, Thomson Reuters used Apttus Contract Management and Quote-to-Cash solutions to streamline their selling processes. Our customer gained speed, efficiency, and visibility into every aspect of the revenue generation cycle.
Thomson Reuters Vice President Craig Eiter, pictured with Tim Cummins and Jason Smith, was on hand for the award.
The Future of Contract Management: Automatic, Interactive and Smart
Over and over, the speakers returned to common themes about the future of contracting. It’s going to make more use of cutting edge technologies—but technologies with a difference. There will be no proliferation of logins, buttons, user screens and applications. The future of contracts is about making the professionals who use them more effective.
So it’s no accident that attendees and experts were excited about the potential of applied artificial intelligence in contract management, discovering what it can already do for their operations and what it will be able to do in just a few years’ time.
Companies discussed their experiences with virtual assistants, such as Apttus’ Max, which are able to interact with users via voice, text and chat and create new levels of productivity and adoption.
Perhaps most intriguing is the promise of smart contracts built on blockchains. This technology could offer unprecedented levels of trust and compliance for every kind of contracting organization.
IACCM is on the cutting edge of contracts, and its members lead the way in contract management. We can’t wait for next year!