Head over to PLI to download a free article by William A. Tanenbaum (Kaye Scholer LLP) on getting offshoring deals closed. PLI’s take is that Tanenbaum offers “a streamlined, ten-step process to bringing agreements ‘to execution in a reasonably prompt time period.’” Tanenbaum’s program (head over to PLI at the link below to get the full article) contains the following ten steps:
- Customer assessment of its business and outsourcing goals;
- Generate vendor interest;
- Issue a Master Services Agreement and Statements of Work;
- Customer allowed providers to “bid” on different “lots”;
- Customer communicates that winning providers will be eligible for future phases;
- Use an online, real-time bidding process;
- Cross-Functional customer team evaluated finalists and provided checklists in advance;
- Due diligence by providers;
- Contract negotiations; and
- Selection of two providers and completion of contract process.
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The link to the PLI article does not seem to be working. I think this is timely as many companies need to reevaluate the costs going in to their transactions, especially cross-border transactions. I think the key comes from streamlining the process in such a way that allows for portability, efficiency and expertise.