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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.
The Ancillary Benefits of Benchmarking: It's in There
It's true that benchmarking is a proven approach to ensuring your outsourcing agreements remain competitive over time.
But you may be surprised to learn that benchmarking offers many ancillary benefits that often provide greater returns than were originally expected.
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.
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