Companies outsourcing is no longer a new phenomenon in the business world today. When done for the right reasons, outsourcing can bring a lot of benefits for an organization such as access to expertise and technology lacking in-house, costs savings as well as enhanced effectiveness.Here, we will examine some of the important contract considerations for outsourcing;1.Terms of AgreementWhat is obtainable generally is shorter-term renewal option, which could be eight years or less. It is recommended that managers insist on spelling out some conditions clearly in the agreement to this effect. For instance, it should be stipulated in the contract that contract renewal should only take place if a notice is sent to that effect.2.Confidentiality/Ownership of DataEnsure that the agreement spells out clearly, that your company would keep ownership of the data submitted to the outsourcing firm, and...
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