Today, WorldCC and the National Contract Management Association (NCMA), the world's foremost authorities in the field of contract management, proudly announce a groundbreaking joint venture. This partnership is set to revolutionize the profession around the world.
Contract management is the bedrock of successful business and social outcomes, underpinning transactions that drive economies and society forward. Recognizing the paramount importance of this profession, both WorldCC and NCMA are uniting to advance a common and worldwide understanding of both public and commercial contracting practices.
One of the core pillars of this joint venture is the commitment to consensus-based updates. At its heart, this collaboration aims to continually refine and expand the application of the Contract Management Standard™ (CMS™). By harnessing their collective expertise, they intend to adapt the CMS™ to accurately reflect the ever-evolving landscape of contract management in today's intricate global context, and drive the growing adoption of the CMS™ for academic recognition of contract management.
In addition, this partnership will provide a wealth of guidance resources that are invaluable to professionals in the field. These resources will focus on the utilization of artificial intelligence (AI) technologies within the realm of contract management. This initiative is poised to empower practitioners by unlocking the full potential of AI, leading to enhanced efficiency, precision, and innovative practices.
Sally Guyer, WorldCC's Chief Executive Officer, emphasized the collaborative spirit of the venture. "Our shared vision is to elevate the profession of contract management and ensure that it remains at the forefront of industry practices. By unifying our efforts, we can deliver cutting-edge guidance and resources that will empower professionals worldwide."
NCMA's Chief Executive Officer, Kraig Conrad, expressed his enthusiasm for this milestone partnership, stating, "This joint venture marks a new era for contract management professionals. Together, we'll elevate CMS™ globally, setting a new standard for excellence and creating a common contracting language."
The announcement was made at WorldCC's Americas' Summit in Dallas TX, and will be further discussed at NCMA's Government Contract Management Symposium.