A Three-Stage Approach to Effective Contract Renegotiations

Written by Laurence Blanchette

All things come to an end, good and bad. Whether your current service providers are exceeding your expectations or barely meeting contract terms, the end-of-term period is an opportunity for positive change and realignment. Effective contract renegotiations enable organizations to bring competitive flavor to the sourcing process and realize potential annual savings of as much as 15-20% of the existing Total Contract Value (TCV).

How can you achieve these benefits in your next contract renegotiations?

Join us for this webinar, where we’ll walk you through a proven three-stage approach to maximize value in Vendor Contract Renegotiations. We will offer concrete recommendations that will strategically re-align your vendor relationships with your sourcing strategy and business/technology goals. Contracts vary widely in complexity and criticality, but regardless of their impact on business strategy, this comprehensive framework will enable you to confidently approach the renegotiation table with concrete data and analysis to support your strategic demands.

You will learn:

  • Actionable recommendations and techniques to instate a proactive contract renegotiations approach within your own organization.
  • How to perform a detailed assessment of your current sourcing needs with regards to your current vendor capabilities.
  • How to understand the cost basis for the current set of services in market time.
  • Techniques for effective negotiations.
  • How to streamline outsourcing relationships and leverage them to retain a competitive edge in the marketplace.

Neo Group Partner and Senior Advisor, Hemant Puthli, shares his insights and experiences on contract renegotiations from 20+ years of advising global clients on their outsourcing strategy.  He is joined by Donald Mones, former VP of Vendor Management at Viacom, recognized for his innovative approach to vendor management and contract renegotiations.

This event took place on Oct 14. Access the webinar recording or download the PDF presentation.