Renegotiate Your Technology Costs Now To Survive The Lockdown And Subsequent Recession

CIOs in many enterprises need to take emergency measures to cut costs, delay investments, and preserve cash as a result of COVID-19. Good vendors will respond flexibly to this test of their customer relationships in order to preserve long-term revenue streams. Firms in survival mode in lockdown industries should ask all vendors for maintenance and subscription furloughs. Those businesses in adaptive mode that are experiencing a slowdown should focus on renegotiating payment commitments and capacity limits with their more affluent vendors. Companies in growth mode that are ramping up to meet emergency demand should grab the opportunity for great deals, both for software and for implementation services. All firms should use the power of the community to nudge vendors in the right direction.