Getting Sourcing Right

Are you in the middle of your growth phase and need 3rd party services to scale? The sourcing of 3rd party software and services is vital for businesses to concentrate on their core competencies and ensure efficient and successful growth and operations. At the same time, these sourcing activities involve various crucial legal tasks and considerations that businesses should address before engaging new vendors.

The key aspects include:

– GDPR compliance: This is particularly defining the processing relationship, implementing compliant DPA, conducting TIA where personal data flows into third countries, conducting PIA, and updating RoPA

– Contract negotiations: Negotiating contracts with vendors is paramount to mitigate legal risks and, thus, avoiding a collapsing-sandcastle situation and address all your business and technology needs.

– Drafting standard sourcing templates: For common sourcing arrangements, developing standardized contract templates like NDAs, DPAs, or SaaS contracts can streamline the negotiation process and ensure consistency in legal terms.

– Establishing sourcing organization: It is important for businesses to create an internal sourcing organization that establishes clear guidelines for procuring new software and services. In-take processes and routines save time and ensure a high level of quality and compliance.

We are in-house lawyers with a broad range of experience in advising the sourcing of technology products and services in different organizations. Feel free to reach out if you have any questions or if you would like to talk about the bigger picture of digitalization, transformation or technology change.