Let me start with the value proposition. We are currently running a survey about this in the context of an organisation's ability to manage contracts in light of coronavirus. It is demonstrating the importance - and results will be available next week.
In terms of implementations in Melbourne, we will need to ask! I'll arrange for a question to be sent out.
And finally, have you tried the selection tool available on this site?It should provide you with a good shortlist to consider.
Hi Mark, it will good to see the feedback from members and you can also enter your requirements into our independent register of contract management tools at www.iaccm.com/resources/contract-management-software/ This works like an RFI to match market capability to your requirements and will help to segment the tools into where they fit on the contract management lifecycle e.g. authoring Vs managing contracts.
It was good to see you at our last 'physical' member meeting on 5 March before COVID-19 turned us all 'virtual'. Please also call me on 0407 535835 if you want a chat about tools.
Seplat Petroleum Development Company Plc
I agree that simplification is the only way to go. More and more companies are realising the benefits of reducing sales cycles, negotiation times etc together with ease of understanding of contracts by key stakeholders and customers.
I agree that too much emphasis is often placed on covering off risk when a certain amount of risk is an element of all contracts. Managing that risk in an intelligent manner is key and part of that management is using the right contract terms for the relevant offering. IACCM's VCU Framework will help companies to manage uncertainty through contracts.
We would welcome the opportunity to explain the benefits of contract simplification and design together with the VCU Framework to your senior business and legal teams. Please reach out to me personally if you would like to discuss. My email is pdoyle@IACCM.com
VP and Global Head of Research and Analytics
Hi Emilee - that's an awesome outcome. Can I ask if you've got positive feedback from suppliers as well as internal stakeholders ? Also, given that you've achieved this, what's your next challenge - making the RFP process easier for them,, reverse auctions for your tangible products ?
Thank you for your comment and yes there is signficant research and resounding evidence to confirm that visuals can support clarity and understanding in contracts - no matter which element of the contract. And yes we would deem it perfectly acceptable to have graphics in certain sections - not all. There are some elements of the contract that lend themselves to visualization more than others. There is a lot of material in our Resource Library on this topic and this particular piece of research should help you too:
Thanks, Phyllis, I am glad that you found the webinar helpful; it was certainly a great session to moderate, with some really good questions at the end. I agree - we often don't pay enough attention to the learning style and the impact that has on how information is absorbed. Paul Branch