World Commerce & Contracting Company Profile

Background

World Commerce & Contracting (WorldCC), formerly known as the International Association for Contract and Commercial Management (IACCM), is a global non-profit association dedicated to enhancing standards and capabilities in commercial practice. Established in 1999 by Tim Cummins, WorldCC has grown to encompass over 75,000 members across 180 countries, representing more than 20,000 organizations. The association's mission is to improve the quality and integrity of trading relationships by promoting international standards and practices for defining and managing successful commercial relationships. WorldCC aims to foster a world where all trading relationships deliver both social and economic benefits.

Key Strategic Focus

WorldCC's strategic focus centers on influencing and contributing to the evolving body of rules and practices governing global trade, while inspiring and encouraging commercial innovation. The association seeks to transform contract management and the contracting process into instruments of fair dealing that promote trust, generate economic benefit, and support social inclusion. This is achieved through raising awareness via research and advocacy, increasing insight through analytics and events, creating standards through certifications and models, and inspiring innovation through awards programs.

Financials and Funding

As a non-profit organization, WorldCC is funded primarily through its membership base and external research commissions. The association's revenue is estimated to be between $10 million and $50 million annually, with a staff of approximately 53 employees.

Pipeline Development

WorldCC continually develops and offers a range of programs and initiatives to support its members, including:

Certifications: Programs in Commercial & Contract Management, Supplier Relationship Management, and Modern Procurement.

Educational Offerings: Modern Contracting workshops and self-paced online programs like Introduction to Relationship Management.

Research Reports: Regular publications such as the Benchmark Report and Most Negotiated Terms Report, providing valuable insights into industry trends and practices.

Events: Annual summits in EMEA, APAC, and the Americas, along with weekly webinars and in-person meetings worldwide.

These initiatives are designed to equip members with the knowledge and networks necessary for successful contracts and commercial relationships.

Technological Platform and Innovation

WorldCC leverages a variety of technological platforms to enhance its offerings and member engagement:

Learning Management System: A robust platform supporting certifications and educational programs.

Member Portal: An online community platform facilitating networking and knowledge sharing among members.

Research Initiatives: Collaborations with organizations like Deloitte to produce reports on contract effectiveness and other critical topics.

These technological investments underscore WorldCC's commitment to providing cutting-edge resources and insights to its global membership.

Leadership Team

WorldCC's leadership comprises experienced professionals dedicated to advancing the association's mission:

Sally Guyer: Global Chief Executive Officer.

Diane Kilkenny: Chief Revenue Officer.

Paul Branch: Chief Operating Officer and Chief Technology Officer.

Peter Jenkins: Chief Financial Officer.

Julian Davis: Chief Information Officer.

Nikki Mackay: Chief Development Officer.

This team brings extensive cross-industry experience, managing contract and commercial teams, leading multinational transformation programs, and supporting small business growth.

Leadership Changes

In 2020, WorldCC underwent a significant rebranding from IACCM to World Commerce & Contracting, reflecting an expanded vision and commitment to advocating for commercial and contracting practices that support a better world.

Competitor Profile

Market Insights and Dynamics

The field of contract and commercial management is integral to global trade, with organizations increasingly recognizing the importance of effective contracting practices. The market is characterized by a growing emphasis on standardization, efficiency, and the integration of technology to streamline processes.

Competitor Analysis

WorldCC operates in a niche market with few direct competitors. However, organizations offering procurement solutions and contract management services, such as SmartProcure, NexTenders, LG Energy, and RTi Global, provide alternative resources and services in related areas.

Strategic Collaborations and Partnerships

WorldCC has established significant collaborations to enhance its offerings and extend its reach:

Deloitte: Partnered on a global research initiative to assess contract effectiveness and identify areas for improvement.

UnitedLex: Collaborated to produce a diagnostic tool for C-suite leaders and contracting teams to better understand contract value leakage and develop improvement roadmaps.

Australian Government: Selected as a professional association to support the advancement of procurement and contract management capabilities within the Australian Public Service.

These partnerships underscore WorldCC's commitment to advancing the field of commerce and contracting through collaboration and shared expertise.

Operational Insights

WorldCC's strategic considerations include:

Market Position: As a leading global association, WorldCC occupies a unique position with a broad and diverse membership base.

Competitive Advantages: The association's comprehensive approach, encompassing research, education, certification, and advocacy, sets it apart from competitors.

Distinct Differentiators: WorldCC's commitment to fostering a global community and its focus on both social and economic benefits in trading relationships distinguish it within the industry.

Strategic Opportunities and Future Directions

Looking ahead, WorldCC aims to:

Expand Membership: Continue growing its global community to include a wider range of professionals involved in commercial and contract management.

Enhance Educational Offerings: Develop new programs and certifications to address emerging trends and challenges in the field.

Leverage Technology: Invest in advanced platforms and tools to improve member engagement and deliver cutting-edge resources.

Advocate for Standards: Play a more active role in shaping global standards and practices for commercial and contract management.

By building on its current strengths and embracing new opportunities, WorldCC is well-positioned to continue leading the way in promoting excellence in commerce and contracting.