Technology acquisitions can boost companies’ growth – or cause them to fail

This all materialises as technological transformation projects and system acquisitions. At best, successfully implemented transformation boosts new growth in the company while delays, dysfunctional software and overspending the budget can even jeopardise the business operations, particularly given that more and more customer interfaces are digital.

When companies undertake a transformation project, they should therefore reserve enough time and resources for it. External experts can also help evaluate the project and any related risks. If the project is a failure, related disputes can end up in court.

One factor that is essential for a well-implemented transformation project is a carefully drafted contract. A functioning contract provides flexibility and describes the targets, timetable and responsibilities as tangibly as possible for the duration of the project but also for the use of the new solution after the project. When the contract is in order, it is easy to monitor its execution. At best, the contract also provides a solid foundation if any disputes arise.

Advance planning is often a key to favourable results in disputes as well. When the contract is clear, it has been complied with on both sides and the organisation is prepared for any disputes, the project has better chances of success. In a best-case scenario, the transformation project is so skilfully planned, organised and led that it is not necessary to even consider leaning on these precautions.