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Benchmarking: Targeted Contract Renegotiation
Join the experts at ProBenchmark as they outline the key steps in a successful renegotiation process, as well as how benchmarking can (and should) be used to both expedite your contract renegotiations and ensure you achieve optimum results.
Renegotiation: Improving Contract Terms
Many companies with outsourced operations are reasonably well satisfied. However, as many as one-fifth are dissatisfied, and others are not entirely satisfied. Nonetheless, incumbents are rarely displaced (with some notable exceptions). Why is this so?
Paradigm Shift: The Client/Provider Relationship
During your outsourcing agreement, your outsourcing provider should be considered and handled as an arm of your organization with the same operational and fiscal responsibilities as your direct reports and departments.
This is most important during the budgeting period of the outsourcing agreement. If you and your provider do not work together, the annual goals for the two parties may actually conflict. To change this, a company may wish to reconsider its relationship approach.
Renegotiation: Upgrading your Outsourcing Relationship
As the outsourcing market matures, technological developments, standardization, heightened competition, and benchmarking are pushing outsourcing contract renegotiations rapidly up the sourcing agenda. In fact, only about 20% of all outsourcing contracts are not renegotiated during the lifetime of the contract. Unfortunately, the renegotiation process can be extremely complex and clients are often at a disadvantage when going up against providers who have vast knowledge of the outsourcing market. This white paper describes the fundamentals of contract renegotiation success and how to upgrade your current outsourcing relationship.
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