Best Practices for Technology Development and Sourcing Transactions

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Technology innovation via acquisition can have a quick and significant impact, but it has its own set of challenges. First, the acquirer must complete complicated and detailed work post-acquisition to integrate the acquired technology with the acquirer’s technology. Second, the acquired technology can underperform or be riddled with unforeseen liabilities, such as burdensome customer service contracts. Due diligence and strong post-acquisition project management can help mitigate these risks, so in the right circumstance the acquisition of strategically valuable technology on an accelerated timeline can be a critical tool in overall technology development strategy.

In recent years, the pace of technology and business change has rapidly increased, requiring new commercial models and changes to the existing models. Companies – all companies, not just technology companies – must now regularly update technology across their entire organizations and customer-facing services and products.

Successful technology projects boost revenues, distinguish a company and its offerings from the competition, and transform and improve a company’s relationships with its customers. Failure, on the other hand, can have a profound impact on product development, customer service and market reputation for years to come. Consequently, planning for technology innovation and deployment projects requires careful mapping of strategic objectives, deliverables, and realistic work-around options. 

Laurence Jacobs and Nicholas Smith, partners at Milbank, Tweed, Hadley & McCloy, have identified a variety of transaction structures that companies can use to develop new technologies and to leverage existing infrastructure, technologies, and customer bases. They have also focused on the relative strengths and weaknesses of these models in fostering technology innovation and best practices when designing and managing a project to develop and deploy technology or technology services.

 

Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

 
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