Having previously examined the rationale behind benchmarking, the factors that can undermine its utility and the circumstances in which benchmarking can be used effectively, here are my top ten tips to keep in mind when negotiating a benchmarking clause:
… Continue Reading
- Benchmarking rights are not a substitute for good due diligence on deal terms, especially pricing. Customers should do their homework to get a reasonable level of comfort that the terms and conditions of their deal will remain sufficiently market competitive over the term. It is important to remember the best way to make sure a deal stays up-to-date is to have
There are differing opinions on the value of negotiating benchmarking rights into an IT services or outsourcing contract. This post will look at the rationale behind benchmarking, the factors that can undermine its utility and the circumstances in which benchmarking can be used effectively. The next post will provide ten tips on negotiating benchmarking clauses.
What is Benchmarking?
A benchmarking is a process through which the competitiveness of a contractual arrangement is assessed, usually by an independent third party, by comparing the arrangement to other comparable deals in the marketplace. The results of the assessment may lead to a binding … Continue Reading
Economic considerations and efficiency gains are forcing companies to reconsider their procurement strategies. Many of our clients who use RFPs or similar procurement processes often ask us whether they should attach a form of agreement or standard terms and conditions when issuing an RFP. There is no set answer to this question, but here are eight things to consider when thinking about whether you should attach “Ts and Cs” to your RFP:
… Continue Reading
- What are you buying? It is somewhat trite, but the specific services or products being procured, the scope of the project and its importance to your company will