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Leveraging Vendor Relationships Through Strategic Contracting

Create successful and more resilient vendor relationships through contracting best practices and due diligence strategies.

While there are many aspects to maximizing vendor relationships, one of the most important goals is to ensure the overall contracting process with the vendor ensures sufficient customer flexibility and protection. You will learn real-world techniques for improving the contracting process to achieve that goal. You will be able to immediately implement these techniques to gain better flexibility and protections in your own vendor engagements. The techniques to be shared are based on the presenter's experience in literally hundreds of technology contracting negotiations with vendors of every size and type.

Runtime: 87 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Vendor vs. Buyer Relationships/Dynamics

Importance of Master Agreements

Overview of Contracting Process

  • Preliminary: RFP/RFQ/RFIs/Seeking Bids

- Setting Expectations Early

- Form Agreements

- Due Diligence Activities

  • Contract Negotiations

- Maintaining Leverage

- The Siren Song of Trial Agreements and LOIs

- Post Contract Follow-up and Policing

Alternate/Backup Suppliers

Vendor Due Diligence

  • Typical Elements and Use of Questionnaires
  • Updates

Security Risks in Vendor Relationships

  • The Insider Threat
  • Legal and Industry Standards
  • Scaling of Security Measures

Key Contracting Provisions

  • Expanding the Concept of Buyer
  • Segregating Liability for Buyer Entities
  • Operating a Service Bureau for Related Entities
  • Use of Sweep Clauses
  • Vendor Cooperation With Other Vendors and Suppliers
  • Project Schedules and Defaults
  • Controlling Subcontracting and Assignment

- Beware Changes of Hosting Providers

  • Vendor Personnel/Key Personnel
  • Project Management and Reporting
  • Avoid Change Order Chaos
  • Contract Renewal Rights and Price Protection
  • Identify All Revenue Streams
  • Scope of License or Use Rights
  • Vendor Use of Customer Systems and Telecommunications
  • Vendor Use of Offshore Personnel
  • Disaster Recover/Business Continuity
  • Financial Wherewithal
  • Withhold Remedies and SLAs
  • Termination Rights
  • Audit Rights

- Fees

- Self-Audits, Security Audits, Performance Audits, Compliance Audits

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on May 10, 2018.

Call 1-866-352-9540 for further credit information.

  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michael R. Overly

Michael R. Overly

Foley & Lardner LLP

  • Partner with Foley & Lardner LLP
  • Focuses on drafting and negotiating technology-related agreements, software licenses, hardware acquisition, development, disaster recovery, outsourcing agreements, information security agreements, e-commerce agreements and technology use policies
  • One of the few practicing lawyers who has satisfied the rigorous requirements necessary to obtain the Certified Information System Auditor (CISA), Certified Information Privacy Professional (CIPP), Certified Information Systems Security Professional (CISSP), Information Systems Security Management Professional (ISSMP), and Certified Risk and Information System Controls (CRISC) certifications
  • The Legal 500 recognized him for his information technology work in the U.S., 2010 to 2014
  • Selected for inclusion in the Southern California Super Lawyers® list and also was honored by Los Angeles magazine for this recognition
  • Recognized by Chambers USA for his IT and outsourcing work in 2013 and 2014
  • Numerous articles and books have been published in the United States, Europe, Korea, and Japan
  • Interviewed by a wide variety of print and broadcast media (e.g., The New York Times, Los Angeles Times, Business 2.0, Newsweek, ABCNEWS.com, CNN and MSNBC) as a nationally recognized expert on technology and security related matters
  • In addition to conducting seminars in the United States, Norway, Japan, and Malaysia, he has testified before the U.S. Congress regarding online issues
  • His practice group was named in 2014 one of the World’s Best Outsourcing Advisors by the International Association of Outsource Professionals
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401821
Published 2018
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