THE IMPORTANCE OF REVIEWING THE ORDER FORM
Vendors often introduce additional or special terms during the renewal phase. Typically, these include clauses stating that the renewal terms and conditions will be governed by the vendor's online terms and conditions, effectively superseding any prior agreements between you and the vendor. This seemingly minor change can have far-reaching consequences. Find out what those consequences could be, and how to avoid them.
A HEALTH CHECK-UP OF YOUR IT SOFTWARE: TIPS AND TRICKS FOR LICENSE OPTIMIZATION
How about that annual health physical that has long since passed the definition of “annual”? Just as our personal health is an important element to not put off – a health check on our software licenses is worth bringing to the forefront before we head into year-end budgeting and software renewals.
SHOULD YOUR COMPANY EXPLORE A CONTRACT MANAGEMENT SYSTEM?
With an effective contract management system, your company can realize significant improvements in efficiency, accuracy, and profitability of contracting processes. The increased visibility and streamlined workflows can empower teams to make data-driven decisions that enhance both customer and vendor relationships.
ENSURE VICTORY IN YOUR RENEWAL BATTLES: HOW FOLLOWING A FORMAL RENEWALS PROCESS CAN BE A GAMECHANGER FOR YOUR ORGANIZATION
We take a look at what it means to employ a Best Practices in renewals. But first, it makes sense to talk a bit about what it looks like when organizations do NOT employ best practices in their renewals.
UN (MIDDLE) EARTHING SAVINGS: HOW AN ANCIENT CONTRACT SAVED $100,000
We will look at a situation where a vendor imposed an unreasonable renewal price increase, but, in this case, the tide of the battle was turned by a somewhat unexpected (and very old) participant.
SEISMIC SHIFTS IN SOFTWARE LICENSING MODELS: IMPLICATIONS FOR YOUR RENEWALS
How do we do this? By turning our attention inward to existing contract obligations by focusing on committed spend, especially when minimum commitments are involved, and on renewals.
TRENDS, CHANGES, AND CHALLENGES TO WATCH FOR IN YOUR 2024 RENEWALS
Have you ever had your budget blown up by an unexpected price increase imposed on a “routine” renewal?
BUDGET SHRINKING? LOOK INSIDE FOR COST SAVINGS TO FUND OPERATIONAL INVESTMENT
How do we do this? By turning our attention inward to existing contract obligations by focusing on committed spend, especially when minimum commitments are involved, and on renewals.
IF YOU LIKE FINDING HIDDEN OPPORTUNITIES, YOU’LL LOVE THIS
When things underneath break, even partially, the negative effects can reach all the way to our dinner tables. This is true with Contract Management, a critical discipline within Sourcing and Vendor Management. For most people, this is not an alluring topic. Some people (not me of course) might even liken it to organizing a drawer full of socks.
STRANGERS INSIDE (2). WHEN IT’S A GOOD THING TO INVITE THEM INTO YOUR CYBER SECURITY STRATEGY
In the last installment of this 2-part blog, we used the story from the movie Casino Royale to color up the value of inviting strangers into your cyber security strategy...and how strategic sourcing of vendor partners is relevant in that effort.
STRANGERS INSIDE. WHEN IT’S A GOOD THING TO INVITE THEM INTO YOUR CYBER SECURITY STRATEGY
Improve your cyber security strategy by making the strategic sourcing process and cyber security vendor partners part of the planning discussions...early and often.
“I’M NOT SIGNING THIS.” FOUR LESSONS LEARNED FROM STOPPING A VENDOR AGREEMENT AT THE 11TH HOUR
It hit the CEO’s inbox as committed. The IT team had worked for nearly a year evaluating vendors and negotiating a critical enterprise infrastructure technology deal with a new vendor. Everyone was ready to get the deal done and get to work.
RFP PROJECTS ARE HARD. BUT IF YOUR VENDOR PARTNERSHIP IS MISSION CRITICAL, THEY ARE WELL WORTH THE EFFORT
A story about a health insurance company’s RFP journey to the right vendor partner and 23% pricing relief on a ten-digit investment.
VENDOR RENEWALS… HOW MAKING A QUICK DECISION CAN COST YOU
3 Access Points for Creating Financial Value From Vendor Agreement Renewals.
VENDOR RENEWAL AGREEMENTS… THINGS AREN’T ALWAYS AS THEY SEEM
Vendor renewals often get a “check the box” treatment. Here’s a true story about a vendor renewal that seemed fairly routine…until it wasn’t.
HOW TO NEGOTIATE A VENDOR AGREEMENT MID-TERM: A 3-POINT CHECKLIST
Insights to the often missed opportunity to win with renewals, including a 3-Point checklist for better understanding your mid-term renewals.
TOUGH TIMES OR NOT… DON’T MISS THE VALUE OF NEGOTIATING RENEWALS
Insights to the often missed opportunity to win with renewals, including a 5-Point technical checklist for better understanding your renewals.
A SIMPLE YET POWERFUL TOOL FOR ACHIEVING SUCCESS IN NEGOTIATING ON BEHALF OF OTHERS
How to achieve results in strategic sourcing projects by buildind the stool of success. John, a friend and strategic sourcing colleague, was struggling with how to finish vendor negotiation with a positive outcome. He was struggling to guide the business stakeholder…
PROTECTING YOURSELF FROM YOUR CYBERSECURITY VENDOR’S CYBER RISK
A recent Bitdefender article said one in ten firms will lose $10MM from cyberattack and, as a result, greater investment in cybersecurity is being made by companies. That’s great! BUT cybersecurity firms, by the nature of the service they provide, may represent a greater security risk than ‘normal’ vendors. Here’s a story to illustrate what I mean.
PROTECTING YOURSELF FROM YOUR SAAS VENDOR’S CYBER RISK
A recent CPO article by Mark Lotti quipped, "…a vendor's cyber risk becomes the client's cyber risk". The sheer number of breaches and data loss make this statement ring true, now more than ever. The question is, how do you manage your vendors’ risks to keep your data secure?