What CPI and price increases are you seeing in technology contracts (software, hardware, labor rates, etc.)? Which CPI is most applicable to technology purchases?
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CIO3 months ago
As a non-profit public charity, this is one area that I negotiate on our tech contracts even when we sign them the first time so we are not caught by surprise. Vendors will give you a break the first time. But once you seriously use their software, you will see the price increases year over year sometimes higher than expected. Negotiating this whether they can increase or not, and a cap on it is crucial so we do not end up paying back all the discounts in the out years. With inflation, I usually see 0-4% increase but remember to add a cap so it is no more than 5%. CTO3 months ago
Labor cost is atrociously increased