This year, World Commerce & Contracting (WorldCC) celebrates a remarkable milestone: 25 years of pioneering excellence in commercial and contract management. From its humble beginnings in the late 1990s, when globalization and technological advances created unprecedented challenges in business agreements, to becoming a global authority with over 75,000 members across 180 countries, WorldCC has redefined the way organizations approach contracts.
Yet despite this impressive journey, the significance of WorldCC often remains unrecognized. “Contracts have this reputation of being dry, complex, and risk-centric,” explains Sally Guyer, CEO of WorldCC. “But they’re so much more. At their core, contracts are about fostering relationships, enabling collaboration, and driving growth. Unfortunately, many still fail to live up to their potential.”
The State of Contracting: Challenges and Opportunities
WorldCC’s research reveals striking gaps in how contracts are created and utilized. According to their Purpose of Contracts report, only 39% of professionals believe contracts consistently support successful business outcomes. This is compounded by the fact that nearly 90% of businesspeople find contracts inaccessible due to dense legal jargon and complexity. With an average of 8.6% of contract value lost to inefficiencies, the stakes are high.
“It’s not just about the documents themselves,” says Tim Cummins, President and Founder of WorldCC. “The contracting process often suffers from unclear ownership, resource constraints, and misaligned goals between stakeholders. These challenges erode trust, hinder performance, and prevent businesses from realizing the full value of their agreements.”
Further emphasizing the need for change, WorldCC’s 2024 Most Negotiated Terms report highlights that 76% of professionals experience significant friction in the contracting process. These inefficiencies result in costly disputes, missed opportunities, and damaged relationships.
But there is hope. Simplification and innovation in contract design are proving to be powerful tools for change. In the same report, 72% of respondents stated that simplified contracts enhance understanding, reduce negotiation time, and foster confidence. For smaller enterprises, these changes can level the playing field, creating more equitable trading relationships.
A Legacy of Progress and Innovation
Over its 25-year history, WorldCC has championed transformative initiatives that have reshaped contract management:
- Global Standards: Two decades ago, the Association launched the first global contract management body of knowledge and certification program, laying the groundwork for professional excellence and creating a standard for practitioners worldwide.
- Collaborative Models: Partnerships, such as the development of the contract maturity assessment model with Carnegie Mellon University, have provided benchmarks for success and helped organizations achieve higher levels of performance.
- Sustainable Practices: The founding of the WorldCC Foundation exemplifies a commitment to equitable and sustainable contracting practices, addressing global issues like fair trade and responsible business conduct.
- Next-Generation Leadership: The introduction of Student Connect in 2023 has opened doors for young professionals, ensuring the future of the discipline remains bright and inclusive.
WorldCC has also been a tireless advocate for technology-driven transformation, promoting tools like AI to enhance contract lifecycle management. Its advanced learning programs equip professionals with the skills needed to navigate an increasingly complex landscape. These milestones underscore an enduring commitment to innovation and excellence.
Shaping the Future
As WorldCC looks ahead, its vision remains clear: contracts should not merely mitigate risk but actively drive success, collaboration, and equity. By promoting accessibility, inclusivity, and innovation, the Association continues to redefine how contracts are perceived and utilized, helping to build a foundation for healthier business relationships and stronger economies.
Collaboration remains at the heart of WorldCC’s mission. One notable effort is its collaboration with the National Contract Management Association (NCMA) on the development of the fourth edition of the Contract Management Standard®. This initiative aims to define the core activities central to contract management, influencing professional training, recognition, and the tools that elevate the field. By guiding the creation of a standard that reflects the global and dynamic nature of this profession, WorldCC and NCMA are working together to ensure that the discipline evolves alongside the changing demands of modern commerce.
WorldCC and NCMA have also just announced the creation of the Commerce & Contract Management Institute (CCM Institute), a globally focused research institute dedicated to setting higher standards for buying and selling practices across all industries and sectors. Its vision is to apply research and insights that shape policy and practice globally, delivering better outcomes for society.
“When you consider that nearly every person in the world interacts with contracts—whether it’s a mortgage, a phone plan, or a business agreement—the urgency of reform becomes apparent,” says Sally Guyer, CEO of WorldCC. “Contracts are a touchpoint for trust and collaboration. Making them more effective and accessible benefits individuals, organizations, and society as a whole.”
Through initiatives like contract simplification workshops, advanced certification programs, and advocacy for sustainable practices, WorldCC continues to empower professionals and organizations to rethink how they approach contracting. With the integration of cutting-edge technologies, including AI, and a commitment to fostering equitable trade relationships, WorldCC is not just adapting to the future—it is shaping it.
A Call to Action
The world of contracts is at a crossroads, and organizations like WorldCC are essential to making sure the right path is taken. As digital transformation accelerates, and as businesses and governments alike grapple with new challenges, the importance of effective and empathetic contract management has never been greater.
The road ahead calls for collective action. As WorldCC celebrates its anniversary, it invites business leaders, policymakers, and practitioners to join its mission of transformation. Together, we can ensure that contracts evolve from being mere documents to becoming powerful enablers of trust, fairness, and prosperity.
To learn more about WorldCC and how you can get involved, visit www.worldcc.com. Let’s shape the future of commerce and contracting—together.
