"We only dealt with these contracts once every few years... we needed help to ensure we were getting the best terms at a fair price"
The Challenge
The contract your institution executes with the vendor is an extremely important component of the success of your chosen solution. It becomes the basis for your relationship with the vendor and your one, true opportunity to bridge the gap between your expectations and the vendor's deliverables. It is also your only recourse when unexpected events take place and things don't go as planned.
However, most institutions only enter into major contracts once every few years. This places them at a distinct disadvantage when negotiating the contract with the vendor, who negotiates dozens of contracts every year. As a result, most institutions enter into contracts that are one-sided, in favor of the vendor, and rely upon the "word" of the vendor's sales team to resolve all conflicts and misunderstandings.
Some institutions have even created a "procurement" or "contracts" department in an attempt to address this problem. While this is typically better than enlisting the department heads or managers to negotiate the contract, these departments are typically contract "generalists" and lack the knowledge of a "specialist" that comes from negotiating these contracts many times per year.
Catalyst Response
Catalyst understands the complexities associated with negotiating a thorough contract. Catalyst will collectively review the legal language, terms and conditions, service level agreements and price. None of these exist in a vacuum, nor can they be taken out of the context of the contract as a whole. Catalyst will review all issues with your institution, identify priority objectives, make recommendations, and then guide you through the negotiation process.
The Catalyst process is designed to ensure all interested parties are represented throughout the negotiation process. This acts as an effective deterrent to last minute "roadblocks" many institutions encounter when the contract reaches the execution phase.
Benefits
Catalyst's value comes from our extensive knowledge of the vendors, their contracts and a proven negotiation process that will provide your institution with the most complete, fair contract possible. Our methodology will ensure that your institution's goals and objectives are accurately translated into the contract and that adequate recourse is in place. This also leads to a more effective implementation of the solution and ultimately to a better long-term relationship with the selected vendor.
