A tougher economy, increased competition and constrained budgets are forcing businesses to gravitate towards innovative contracting models. Across industry groups, companies and their third party vendors are showing increasing preference for risk-reward contracts over traditional time-and-materials contracts. Trust and maturity on both sides are the key prerequisites for risk-reward models to be mutually beneficial, say Malay Verma, vice president and global head of the Cisco business unit at Wipro Technologies and Ravi Aron, senior fellow at Wharton’s Mack Center for Technological Innovation. Verma and Aron share insights on how these models are evolving in this white paper produced by Knowledge at Wharton and sponsored by Wipro Technologies.
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