Review your ICT service contracts to realise their full value
You may have noticed that our ongoing mantra is that the value of your ICT business lies predominantly in your service contracts. They are your crown jewels so it pays to make sure they stand the test of time.
1. Review your contract documentation
Ensure that your client, supplier and employee contracts as well as your standard terms and conditions are clear and not open to dispute or potential claims. We recommend that you have your contracts reviewed professionally.
2. Ensure that client contracts are in place for all work undertaken
Ensure all work undertaken is covered by contract and your standard terms and conditions. Take care to minimise your obligations and risk of penalties in your Service Level Agreements with client.
Documented evidence of the work you are undertaking adds credibility and more certainty to the ongoing business in the eyes of a buyer. It will also enable the buyer to identify clearly the level of service being delivered and the ongoing liabilities.
3. Ensure that employee and suppler contracts are in place
One of your key assets is your staff and the buyer will want to be confident that they will stay with the business after your departure. A good track record of staff retention as well as appropriate contracts will do much to satisfy the buyer of the ongoing commitment of the staff to the business.