MasterClass Series

Get Informed. Leave Empowered.

About the MasterClass Series

Class Length: 2.5 Hours | Start Time: 1:00 PM EST

ICN’s new MasterClass series allows you to sharpen your procurement skills from the comfort of your own home – all in an afternoon’s time.  Content is delivered live by one of ICN’s senior instructors.  Sessions are two and a half hours in length, are conducted via Zoom meeting and are highly interactive.

The Classes

Do Better Cloud Deals

by Implementing a Contracting Philosophy Tool

Cloud contracting can be challenging for any procurement professional.  But the good news is that it doesn’t have to be – if you have a contracting philosophy tool at your disposal.  In this MasterClass session, you’ll learn how to build your own cloud contracting philosophy tool so that you can do better deals with cloud providers.

  • Strengthen positioning with your suppliers.
  • Effectively communicate your beliefs on key risk areas.
  • Gain consensus on the issues that matter most to you.
  • Maximize speed to value in the negotiation process.

Improve Vendor Performance

through Stronger KPIs

You know how the ICN maxim goes – if you’re not managing your vendors, your vendors are managing you!  In this MasterClass, you’ll learn how to develop and implement meaningful Key Performance Indicators (KPIs) in order to incentivize vendor performance, reduce vendor excuses, and identify performance trends. 

  • Understand why KPIs are the key to successful vendor management.
  • Develop meaningful KPIs for your organization.
  • Leverage KPIs to improve vendor performance.
  • Enhance your relationships with key vendors.

How Suppliers Limit Contractual Risk

and What to Do About It

Vendors are only interested in two things – maximizing profits and minimizing risk.  In this MasterClass, we’ll investigate some of the more popular ways vendors are using your own contract language against you and learn strategies you can implement to level the playing field.

  • Explore the two factors that drive vendor behavior.
  • Learn how vendors are using key areas of your contract against you.
  • Explore why limitation of liability is the single most important provision in your contract
  • Develop strategies for mitigating risk and increasing savings.

Recognizing and Defusing Popular Vendor Ploys

Vendors are well-trained in the arts of negotiation and manipulation.  In this MasterClass, we’ll explore some of the most popular vendor ploys so that we can recognize them when we encounter them.  We’ll also share actionable tips and tactics for overcoming each one!

  • Recognize and counter popular vendor ploys.
  • Maximize leverage with suppliers.
  • Speed up the contracting process.
  • Do better deals by getting the terms you need in your contracts.

Drafting Meaningful Statements of Work

in 3 Easy Steps

Professional services engagements are core to any business.  But are you getting the results you need or just paying for resources spent?  In this MasterClass, we’ll explore the three core principles you need to incorporate into any statement of work – time and materials, fixed fee, milestone, agile, or otherwise – to get the best services deal possible.

  • Distinguish between results-based and resource-based SOWs.
  • Learn the three core principles you need to draft better services deals.
  • Pay for results achieved by your vendors, not the time and effort they spend.
  • Maximize cost savings while minimizing operational risks.

The Classes

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Previous Sessions

Maximize Leverage

by Improving Your Redlining Technique

Redlining is a necessary part of any negotiation.  And if you’re redlining the wrong way, your negotiations are going to grind along slowly – costing you and your company both time and money.  During this MasterClass, you’ll learn the right way to redline so that you can maximize leverage, effectively communicate your needs, and increase negotiation cycle time.

Jumpstart Your VMO

by More Effectively Tiering Vendors

If you’re not managing your vendors, your vendors are managing you!  Whether you’re just starting to establish your Vendor Management Organization or already have a VMO up and running, this MasterClass is for you.  During this MasterClass, you’ll learn how to tier your vendors so that you can begin to effectively manage your most important supplier relationships.

Speed Up Your RFP Process

in 3 Simples Steps

RFPs are a powerful tool for sourcing professionals.  But if done incorrectly, the RFP process can drag out weeks and months – reducing your leverage and increasing internals costs.  By implementing three simple steps into your existing RFP process, you’ll be able to more effectively communicate your needs to suppliers, improve the way you evaluate supplier responses, and increase your positioning as you head into formal contract negotiations.