World Commerce & Contracting (WorldCC) has released its popular Most Negotiated Terms Report for 2024, revealing valuable insights and actionable strategies to help you negotiate smarter, build stronger partnerships and avoid costly mistakes.
Sponsored by Icertis, the free report examines the key terms negotiated in contracts across businesses, providing insights into the challenges faced by both big organisations and small & medium-sized enterprises (SMEs).
937 global respondent organisations took part in the research, with Oceania making up 11 percent, while 19 percent nominated procurement as their principal function.
“In today’s volatile business environment, contracts are more crucial than ever, yet many organisations fail to leverage them effectively,” said WorldCC.
“This year’s Most Negotiated Terms Report reveals a startling disconnect between common negotiation priorities and the factors that truly drive successful business outcomes. Supported by extensive research, the report challenges traditional contracting approaches, highlighting how an excessive focus on risk mitigation can actually hinder value creation and growth.”
The report is made up of two distinct parts: a market overall dealing with key findings and an exploration of the experiences, attitudes and distinctions between big businesses and SMEs.
You’ll discover:
- The disconnect: Why only 16 percent of negotiators believe they’re prioritising the right terms
- The power dynamics: How to navigate negotiations effectively, regardless of company size
- The solution: Why simpler contracts are the key to unlocking value and building stronger, more collaborative relationships
WorldCC said the research explores the dynamics between large and small businesses in negotiations, exposing the challenges faced by SMEs when dealing with imbalances in power and flexibility.
“The report champions a shift towards simpler, more collaborative contracts that foster strong relationships and pave the way for mutual success.”
Join the global not-for-profit association on Wednesday, 13 November at 2pm AEDT for a Most Negotiated Terms webinar that focuses specifically on the APAC region, featuring a regional analysis of this year’s data.
You’ll learn:
- How the region is uniquely impacted by global supply chain strain and ever-changing jurisdictional regulations
- What it means for contract professionals and negotiators
- What terms are organisations spending their negotiation capital and if it reflects what’s most important to these regional businesses
