The Contract Masterclass: Risky business, Tech It Easy part 2.
Tech It Easy Limited has just secured its first deal with a large retail company – score! As an upcoming tech company offering its social media management software, it is ecstatic to have landed a massive client. Before the fun stuff begins, Bob has the unenviable task of getting the contract over the line. Considering the size of the retail client compared to Tech It Easy Limited, one of Bob’s main concerns is assessing and managing the risk that this great opportunity and partnership may bring to the business in order to protect its position. Here, James Corlett and Molly Hackett break down what Bob will need to consider.
Practicalities: what will Tech It Easy actually be committing to?
Tech It Easy will be developing and installing the software for the client and providing support and maintenance services too.
Bob needs to make sure that the client’s expectations are realistic in relation to what Tech It Easy can provide. The client wants 24-hour responses across the board on any and all fix requests, this is unlikely to be manageable! Bob may want to consider proposing tiered response times in the contract, depending on the severity of the issue.