- Contract reviews are tedious, and reviewers may lack the skills and experience to effectively complete the process.
- Vendors have a repository of contract terms and conditions that are road-tested and often biased in their favor.
- Vendors change their contracts frequently through hyperlinked documents without notifying customers, and the onus is on you to stay compliant.
Our Advice
Critical Insight
- Focus on the terms and conditions, not just the price. Too often, organizations focus on the price contained within their contracts, neglecting to address core terms and conditions that can end up costing multiples of the initial price.
- Lawyers can’t ensure you get the best business deal. Lawyers tend to look at general terms and conditions for legal risk and may not understand IT-specific components and business needs.
Impact and Result
- Align contract language to meet IT and business needs.
- Communicate more effectively with Legal and the vendors.
- Identify and reduce contractual and performance risk.
- Understand the relationship between contract provisions.
- Negotiate more effectively.
Member Testimonials
After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.
9.7/10
Overall Impact
$36,364
Average $ Saved
5
Average Days Saved
Client
Experience
Impact
$ Saved
Days Saved
Denver Water
Workshop
10/10
$32,499
20
Kappa Delta Sorority
Guided Implementation
10/10
N/A
2
Association of American Medical Colleges
Guided Implementation
10/10
$117K
110
Foley & Lardner LLP
Workshop
10/10
$61,999
10
Jet Support Services, Inc.
Guided Implementation
10/10
$70,034
5
Workshop: Understand Common IT Contract Provisions to Negotiate More Effectively
Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
Module 1: Assess Contract Terms and Conditions
The Purpose
- Understand IT contract clauses, improve risk identification, and be more effective at negotiating contract terms.
Key Benefits Achieved
- Increased awareness of how contract provisions relate to each other.
- Demystification of legalese and legal concepts.
- Increased ability to seek assistance from internal parties (e.g. Legal, Risk, and Procurement).
Activities
Outputs
Review the Contract Review Tool.
Review the Contract Playbook template.
- Partial completion of the template
Review 35 contract provisions and reinforce key learnings with exercises (spread across three days)
- Exercise results and debrief