Vendor Sourcing and Management: Strategies for the 3rd Platform — New or Renew?
This IDC study is designed for executive owners of a firm's IT vendor relationships to enable them to determine the effectiveness of current contract arrangements within outsourcing contract life cycles. The study examines the factors that influence buyers' decisions whether to renew existing outsourcing service contracts with external vendors or go to market with a request for proposal (RFP) seeking new terms and providers. This study:Describes the major considerations and issues affecting a company's IT needs and usageDefines a variety of reasons a company may have to terminate an existing IT vendor contractOutlines concerns and strategies to mitigate risk that IT managers and executives can consider when making the decision to move to a new vendor No contract lasts forever, and a buyer must use the end of term to consider more valuable opportunities with the incumbent vendor or with a new vendor, says Ron Babin, adjunct analyst with IDC's Research Network. IDC recommends that buyers systematically review their changing business needs and renew or establish new vendor contracts that meet the needs of their organizations.
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