Your IT supplier is an important partner for your business operations. You rely on their services, products, expertise, and support for the continuity of your business processes. But what if your IT supplier gets into trouble? What if they go bankrupt, are taken over, lose their quality, or need to increase their prices to survive? How can you prepare for such a possible disruption of the IT service provider or the termination of your cooperation?
It is important to have insight in advance into the dependency and the possible options if things go wrong. Below are some considerations to assess the situation, analyze the risks, and make an action plan.
Assess your situation
How dependent are you on your IT supplier? How satisfied are you with their performance, service, and price? How much confidence do you have in their future continuity and stability? How much information and insight do you have about their financial situation, strategy, customer base, and market position? How transparent and communicative are they about their plans and problems?
The answers to the above questions should give you a picture of the current situation. When not all questions (to wish) can be fully answered By assessing your situation, you can get a better picture of the current and potential problems in the near future. You can set priorities and establish criteria for how you want to proceed with this supplier.
Analyze your risks
What are the possible consequences for your business if your IT supplier stops or changes due to a takeover? How big is the chance that this will happen? How serious can the impact and damage be? How long does it take and what does it cost to recover this? Are there opportunities to prevent or mitigate this risk?
It gives you insight into your vulnerability and resilience.
Prepare an action plan
Are you going to wait until it is so far? Or do you take action now to leave before it is so far, or to be ready when it really comes to that? What are the advantages and disadvantages of each scenario? What steps should you take? What are the conditions you must meet? What criteria should you use? By making your action plan, you can make a better choice, prepare better, and achieve better execution in a timely manner.
Do you want to know more about how you can assess, analyze, and manage your IT supplier? Then contact us for a no-obligation consultation. We are happy to help you with our expertise, experience, and solutions.
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