Once you’ve made the decision to outsource, the deal process itself will commence. This is likely to be the period of most intense activity.
Getting it right entails:
Flexibility needs to be built in to allow for future variations arising from changing business circumstances.
- Structuring the deal to reflect both the current baseline of service offering and the potential market participants recognizing the type of vehicle and service provider relationship to be achieved
- Agreeing on the scope and service levels and on the assets involved, be they people, premises, intellectual property, equipment, etc.
- Negotiating a contract that is both equitable and achievable and which provides the ability to achieve the desired relationship. This includes defining the exit criteria at the end of the relationship
- Post-contract, delivering the commercial and relationship benefits of the deal in preparation for transition