Intelligent CXO Issue 05 | Page 14

TECH TRENDS

No business is an island :

Securing growth strategy against supplier dependence

Fast-growth technology ( FGT ) companies will often depend on their offering being built on software developed by another organisation . Some organisations may try to develop their own proprietary technology in-house , but the cost / benefit of this and transitioning clients to the new technology , can be difficult to navigate . Alistair Maughan and Gemma Anderson , Partners at the law firm , Morrison & Foerster , outline how a business can protect itself against litigation and commercial risk should the third party technology relationship fail .

In an increasingly interconnected world , all organisations rely on key suppliers to support their growth . However , when these relationships encounter challenges , the impact can hurt an otherwise successful business .

Many fast-growth technology companies build their product on top of software or services developed or delivered by another organisation , such as cloud storage or payment platforms . This allows companies to save resources , money
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