An outsourcing contract is the culmination of significant effort by the parties to arrive at a mutually beneficial agreement and overall relationship. The contractual management activities are much more complex than typical commodity or short-term service agreements. The contract must be continually updated and interpreted to incorporate new business dynamics, technology and business process changes, and the location and provision of services. Organizations need to keep this focus and integrate the contractual requirements with the performance, financial and relationship management capabilities being developed. The questions then become how best to integrate these capabilities and how much of a role modern contract management software tools should play in the process.
ISG believes that tools can be both an aid and a distraction during this crucial period of significant change in an organization. This ISG white paper looks at how to use tools effectively during the initiation phase of your outsourcing transaction and introduces a new and cost-effective solution for managing your transaction.