Session held on 23rd November 2021
About this session
Research suggests over 40% of buyers and contract managers don’t read their own contracts – why is that?
Are they too badly written, too confusing, too convoluted, too boring, too difficult to interpret – or are we just drowning in contracts?
Visual or Comic Contracts represent a growing trend in contracting, which puts the values, relations and operational details first in focusing on behavioural drivers and contract compliance. Research from UWA over the past five years has pioneered and researched comic contracts and found an increased comprehension, engagement and perception with image based contracts over text based ones. And - more importantly – have resulted in a complete dispute elimination across thousands of contracts, which has been proved to save vast amounts of money for users.
Australia is leading the charge of legal innovation in this field – and it can work especially well when large companies are engaging smaller suppliers. It is also an approach consistent with both agile and relational contracting, focusing on the specific pain points of the relevant transactions and driving behavioural change.
This session will outline the pros and cons of visual contracting, how you can use them, offer some relevant examples and share results of 5 years of impact testing. We will also introduce you to the processes and lessons learned, from banking to disability care to construction contracts.
Contract managers and agile procurement practitioners will not want to miss this. Buckle up for a very different approach to contracting.
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|Keywords||contract, contract managing, visual contract|
|Topic / Interest||Contracting & contract management|
|Type||Presentations, Virtual Round-table Recording|