Managing Third Party Relationship

There are phases with the third party while outsourcing

  • Expectation: There is a set of targets or claims that the company offers to which the third party has to fulfill. The company expects the third party to perform at the right time in a proper fashion, taking care of the deadlines
  • Realisation: The third party then starts its work where it realizes all the tasks and work listed in the contract.
  • Stagnation: Then comes a stage where the company has outsourced its work and the third party is settled with the company and performing its job perfectly as promised. When this stage comes, it’s a happy mutual condition, but it can turn sour if one of the parties is not satisfied with the other.
  • Frustration: There might come a stage where the company thinks that the third party is not fit to work with them, or they have a better substitute at lower costs and high technology, or clash between the management begins, then the company either violates the contract or does not renew the contract. They may shift to a different third party. The third party can also feel stagnated after working with a single company for years and feel that they are not being paid properly.

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