Charles Nerko, team leader for data security litigation in Barclay Damon’s Data Security & Technology Practice Area, wrote “How to Avoid, or Escape, Unhappy Marriages With Vendors” for The Heller Report. He advises businesses review their tech contracts to ensure they’re able to progress and avoid unnecessary costs associated with undesirable contracts.
In the blog post, Charles provided four ways to avoid being trapped in an unhappy marriage with a vendor:
- Find the real contract end date.
- Know your data transfer costs.
- Confirm the vendor’s security promises.
- Consider early termination.
Charles noted, “To safeguard your business from unexpected challenges, a strategic and knowledgeable approach to vendor management is crucial. By carefully understanding and skillfully negotiating vendor contracts, businesses can drive value, limit risks, and support their growth.”
Click here to read the full blog post.