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3 Tips to Reducing Your Tech Costs (Tip 3)

The last tip to reducing technology costs is performing a vendor contract review. Many organizations have long-term agreements with Internet Service Providers (ISPs), phone vendors, and printer/copier leasing companies.  In many cases these are 3-year agreements and it is important to get the best value out of these investments.

It is also very important to not sign extended terms.  For example, don’t sign a 10-year deal with an ISP or any vendor, especially without an “Out Clause”.  You don’t want to be locked in with a vendor where service may deteriorate and not be able to move to a better option without penalty.

The other issue with long-term agreements is the fact that technology changes so fast. If you are in a contract where the vendor doesn’t keep their technology up to date, it can negatively impact your bottom line.

It’s vital that you take this #simpleitadvice and keep contracts to no more than 3 years, review the contract details, and perform due diligence to make sure you are getting the best value for your dollar.  Remember that fewer hard costs do not always mean less costly solutions.

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