This report, drawing on the combined outreach of Worldcc and Webdox, is the first truly comprehensive study into the maturity of contract management in Latin America. It examines the deployment of resources, both human and technology, and allows comparison against other world regions.

The findings show that contract management is an evolving activity, with its growth largely reflecting the region’s increasing engagement with external markets and relationships. As with other parts of the world, international trade is driving a greater need for formal agreements and fresh approaches to the monitoring and management of performance and risk. This is reflected in the primary industries where contract management is taking root(sectors such as oil, gas and energy, and technology and software), together with the countries where it is most established (Brazil, Chile, Mexico and Colombia). Some 55% of survey respondents are working in organisations with more than 1,000 employees.

It is notable that 14% of those responding work in the legal industry, suggesting that contract-related work is often an outsourced activity. The region is also home to a significant number of captive centres, with large international corporations taking advantage of local talent and lower-cost resources. These investments are important accelerators of a growing contract management discipline since they offer attractive job opportunities for recent graduates and also provide ongoing training, which is otherwise notable by its absence.

Technology deployment is generally lagging other world regions, and this currently represents a missed opportunity to streamline processes and avoid the need for extensive hiring or training of dedicated resources. Given the extent to which weaknesses in contract management undermine business performance, executive management should develop a clear strategy for building capability and taking advantage of the tools and systems that are now available. This report offers a concrete action plan for improvement.