Disappearing Software Vendors: What's Your Plan of Action?

 

Let's paint a picture!

It's late and you are in the office looking back to a point in time in the last three years when you were visited by several software vendors who promised you the world. They had a story scripted to perfection about how their software would revolutionalize the way business is done. They were referred to as "upstarts" that had millions in venture capital funding. You purchased and implemented the software from one promising vendor. You were among the visionaries to use innovative technology to solve real business problems and you received "kudos" from executive leadership.

Suddenly, you were interrupted, reality hit, and you are back to the present. The "tech" and "dot-com" bust has hit the IT industry hard. Venture capital funding has dried up and "upstart" software vendors seem to be disappearing due to losses and falling stock prices. Software vendors are disappearing in several ways: (a) buyouts and mergers, (b) change in corporate focus resulting in discontinuation of product and/or services and (c) closing business. With this harsh reality, you are concerned that the vendor you went with is exposed to similar risks. In addition, there are other projects that could be impacted as well. What do you do? What's your plan of action?

Here are a few suggestions:

Contact the vendor
Contact the highest authorities if you have to. Demand an …

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