Procurement outsourcing is hot. And, really, what is the downside? Committed savings on identified spend that may not have otherwise been captured and realized (and hopefully offsetting and well exceeding any procurement outsourcing fees). Procurement outsourcing is a great business proposition and can be a win for a company if it picks a service provider that can deliver and it has strong contract protections that enable "guaranteed" savings. Four factors that we have seen lead to a successful deal are good (1) sourcing and category management strategies, (2) contract collection and vendor management, (3) benchmark data and buying leverage, and (4) success metrics that are accurate and measurable.
NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
A recent article in CIO magazine highlights the potential security risks posed by using USB thumb drives. The premise of the article—that the firmware in these devices is generally not protected and can be replaced with malware that can infect your systems—sends chills down the spine of the risk-adverse lawyers and sourcing professionals involved in negotiating IT services contracts and associated security requirements.
As part of Morgan Lewis’s Technology May-rathon webinar series, partners Peter Watt-Morse and Douglas Crisman will provide an update on current industry trends; the impact on contracts, IP rights, and data security; and other legal issues that arise from cloud computing.
This webinar will be held today, Wednesday, May 28, from 1 to 2 p.m. Sign up here >