Before You Enter An IT Contract, Plan Your Exit Strategy

It may seem counterintuitive, but one of the most important steps you should take before engaging a technology services provider is to prepare a plan for exiting the relationship. Why? A thoughtful IT exit strategy developed before contracting with a vendor is not only a best practice for protecting against the risk of a failed vendor relationship, but it can also strengthen your IT procurement and contracting process. All too often, however, companies (large and small) do not invest the time to think through the end of the relationship before signing on the dotted line.

Yes, the process of planning an exit strategy takes time and resources, and it requires a company to focus on the prospect of a failed vendor relationship just as the parties are kicking off what everyone hopes will be a successful, often long term, partnership. But there is no better time to engage in this type of planning.