in today’s Commitment Matter’s blog, Tim Cummins, mentions first Innovative General Counsel Congress, held in Rome last week, where more than 60 top executives came together to share ideas and experiences.
Tim spoke about contract management – seen by many as an area that demands greater attention from the law profession. Indeed, it was positioned as a major source of value-add that can substantially increase the role and relevance of the law department.
I could not agree more:
1. Legal Department can build substansial value within contract management area – if they want to and dare. They are the only team that can bring corporate contract management to the table.
2. Legal Innovation must be supported by customers – the customers are among the legal departments rather then elsewhere (read law firms).
3. One main barrier to pass is the ability to work cross functional. Contract Management is teamwork. AS Tim points out – this is in the mentality of lawyers. The world appears divided between ‘lawyers’ and ‘non-lawyers’. “There is no other profession that thinks this way,” Tim observed. “Have you ever heard of non-doctors, non-accountants or non-engineers?” I subscribe!