All successful outsourcing and shared services relationships depend on 1) mutual respect between client and provider, and 2) long term benefits recognized by both parties.  In the retail industry, especially after a down year and slow re-awakening of the consumer spirit, relationships with third parties are more important than ever.  For long term services contracts, you and your providers have suffered through the down turn together. But for contracts under consideration it is essential to validate that 3) the provider is willing to weather a difficult period in your industry along with you, should it occur again during the life of the relationship under consideration.  4) Building such assurance into the contract and 5) governance model will help secure the long term success of the budding partnership.

For more commentary and opinions on the subject of third party relationships, please also read the following entries:
•    Sustainable Outsourcing Relationships by Esteban Herrera, Director

•    Hally’s Comet by Chuck Rosenfield, Senior Consultant

•    Bad First Impressions & Provider Selection by Mike Thompson, Managing Consultant