As technology plays an increasingly pivotal role in defining and driving business goals, the technical leaders play an equally important part in merger or acquisition activity, from the early stages of a deal through completion and integration. In particular, a massive opportunity to positively start the integration would be to proactively analyze third party IT vendor agreements. During the beginning of a post-merger integration, reviewing vendor agreements is an effective and efficient way to remove risks of having sudden price increases, duplicate payments, and inconsistent service levels.
A global services company recently acquired a software organization that has over 1,000 IT vendor agreements for various services and hardware, all with different terms and payment plans. Several of the agreements are from the same vendors that the buying-side is also using and has spent years negotiating favorable terms. Currently this specific contract information is not stored in a centralized location, so someone is assigned to manually review each vendor agreement and record the required information. During the PMI, resources are tight, which makes dedicating a team to review vendor agreements a significant request.
Heretik’s powerful analysis and section-level database features reduces days of manual organization to only a few hours, resulting in a structured and organized set of the agreements by vendor, services, and agreement terms.
Heretik’s Compare and Viewer Interfaces simplify the process of extracting out all the relevant information such as ‘when pricing expires’, ‘pricing increases’, and ‘terms of agreement’ to allow for, not only a streamlined analysis process, but also a simplified workflow to compared key contract terms amongst all the agreements.
Our configurable reporting saves your team hours of building reports and gives them configurable ways to share the appropriate data with key executives so they can proactively re-negotiate without having to be concerned having the necessary data points.
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