Brian E. Thomas article on valude proposition when negotiating new contracts. While it’s important for CIOs to provide a strategic advantage and to work on creating a partnership mentality, one area that needs to be smartly managed are those cumbersome and expensive vendor contracts.
Before CIO negotiates a key vendor contract, he/he needs to have developed the right vendor management strategy. In order to negotiate key IT vendor agreements so as to benefit your company as well as preserve the vendor relationship, CIO needs:
- Recognizing the value - strategic partners provided effective delivery and gone one step further
- Regain control - protection of your interests via four-step negotiation process (described in article)
- Additional best practices
Striking the right balance with negotiating a key vendor contract is just as much about the planning as it is about the approach.
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