Senior management at most organizations has understandable concern about cycle times. This is especially true in an area such as contracting, since the ability to close deals faster has a direct impact on revenues, savings, time to market and overall 'ease of doing business'.
But speed cannot be at the expense of quality. Simple approaches such as reduced review and approval can prove disastrous to business outcomes.
With this background in mind, IACCM undertakes periodic surveys to benchmark typical bid-to-contract cycle times. Our 2012 findings (based on input by 460 organizations) are summarized below and reveal a wide disparity.
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