Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure… than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat. Theodore Roosevelt
Does this quote apply to your current outsourcing situation at your firm? You want to think you have a great deal because there was a great deal of work involved, but something tells you, you really don’t know (otherwise known as ‘gray twilight’). On the vendor side, they are always telling you that they are not making money on your account or what a great deal your firm has, but in actuality you really don’t know (there’s that gray twilight again).
Turn on the lights.
Your outsourcing contract is one of your firm’s top 5 highest monthly expenses, and its structure can dramatically impact your firm’s recovery of legitimate reimbursable expenses. And the way the market’s been acting lately—there simply is no other alternative than to require the most fit and efficient contracts in each and every engagement.
As a standard practice, firms compare starting wages, publish their earnings per partner, and hire brokers to assist them with insurance and procuring their office space; in regards to support services contracts, however, firms still mostly handle these without outside expertise or little industry comparison.
We hope to fill that gap and invite you to join our webinar hosted by Rob Mattern and Jodi Carroll on Wednesday, July 24th at 12pm EDT: Outsourcing Contracts: Renewal Strategies and Best Practices.
Here are some questions Rob and Jodi will address:
- How can I benchmark my firm’s contract renewal and have a broad view of its competitiveness in the current marketplace?
- What has changed in the marketplace since the last contract my firm negotiated with this vendor? Are there new entrants or technologies available in the market?
- If my firm values the relationship with the current vendor, can we negotiate in the firm’s best interest while preserving that relationship?
- What successful strategies have other firms implemented?
- What does cost recovery have to do with my outsourcing contract?
If you would like to join this webinar on Wednesday, July 24th at 12pm EDT, please email Lisa Schneider at firstname.lastname@example.org for the webinar link.