From the course: Outsourcing Fundamentals
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Applying contract changes
From the course: Outsourcing Fundamentals
Applying contract changes
- Anyone who has children in their lives knows how quickly they grow and change. The clothing that fit perfectly just last week, suddenly won't fit well. Well, business changes don't happen quite that fast, outsourcing agreements can get to looking like children's clothing, what fit recently doesn't seem to fit any longer. As most outsourcing arrangements span years, reviewing and amending the contract should be an obligation for both parties. Here are three primary elements for effective contract review and modification. First, contract reviews are mandatory and are held at least annually. I've also seen reviews conducted twice a year. Having required contract reviews allows the outsourcer and the client to review the structure and delivery of existing services. It also serves to ensure the outsourcing is in both party's best interest. The outsourcer needs to deliver contracted services and make a fair profit. And…
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