Nippon Oil, Nippon Mining to merge
Japan's top refiner Nippon Oil Corp and sixth-ranked Nippon Mining Holdings said they are considering a merger to create the world's eighth-largest oil major to better compete amid sliding prices and slower demand
Another Goldman unit hit by decline
Goldman Sachs' plans to expand its wealth management operations have been dealt a potential setback by a dramatic decline in the value of another of its funds
Chinese group sues Vale Inco
A large Chinese battery manufacturer is suing two units of Vale, one of the world's largest mining companies, in a patent infringement case that highlights the growing number of Chinese companies using local courts to protect their interests
Harvard endowment loses $8bn in four months
The world's wealthiest university placed the decline at 22%, bringing the figure to $28.7bn and underscoring how higher education has been hard hit by the global financial crisis
Adobe slashes revenue forecast
The US software group lowers its outlook for the November quarter to $912-$915m and announces job cuts, the latest indication of how the crisis has hit the technology sector
Carlyle to cut 10% of staff as downturn bites
Private equity firm Carlyle is cutting 10 per cent of its staff in the latest indication that buy-out firms will not be immune to the meltdown in the markets
Fortress suspends Drawbridge redemptions
The listed private equity group has suspended redemptions at its flagship fund in order to maintain assets after investors sought to withdraw more than $3.5bn in funds
Vodafone to appeal against India tax ruling
The Mumbai High Court dismissed a landmark challenge by Vodafone against a $2bn tax case in a blow to the UK group and a potential setback for other companies looking to make major investments in India
EDF tries to scupper Buffett's energy bid
The French state-controlled utility launched a direct challenge to billionaire Warren Buffett with a $4.5bn bid for 50 per cent of the nuclear fleet owned by its US partner Constellation Energy
Discounts drive 15% sales jump on 'Cyber Monday'
US online retailers saw an annualised 15 per cent jump in sales on the Monday following the Thanksgiving weekend, according to early estimates, as aggressive bargains boosted traffic on the day the industry has dubbed 'Cyber Monday'
US auto union makes concessions
The main car workers' union said that it would suspend a contentious practice that allows so-called 'idled' car workers to collect virtually full pay and benefits without working
New Star agrees £240m rescue with banks
One of the UK's best known fund managers has agreed to a debt-for-equity swap deal that will leave a group of four banks, including HBOS, Lloyds TSB, HSBC and RBS, in control of the group
Iberia gives BA merger ultimatum
The chief executive of the Spanish carrier said it would be 'too complex' for BA to pursue deals with both it and Qantas of Australia
Merckle at risk of losing empire
German billionaire who lost large sums by betting on falling share prices may have to hand over control of large parts of his industrial empire to his banks.
Dassault in pledge over Thales chief role
Aircraft group will not put forward own executive should Ranque leave in wake of stake sale


your questions with relevant proof. By having a short discussion with open ended questions you will realize whether they are interested in solving your business problems or sending you hefty invoices.

3) Sign a contractual agreement: Make sure to enter into a written agreement which specifies nature, duration of work, rate of compensation etc. This will ensure that the is aware of his task and meets all your specifications. An agreement will protect you from having to pay for undelivered service and/or substandard work. It’s always a good idea to run it by an attorney and insist a change if any clause is not in your interest.

4) Check the compensation scale: A major mistake many business owners make in hiring an IT is without checking the going rate in the industry. You need to do some research to find out the pay range for the services you require before overpaying. While large IT consulting firms charge anywhere from $350 to $400 per hour, individual consultants are likely to charge about $100 to $300 per hour. Charges also vary depending on nature of job, your geographical location and the consultant’s reputation and duration of experience.

5) Warranty: As a standard rule you must be offered a one year guarantee on the service of material used. Also enquire what the consultant’s policy is regarding exchange, emergency support system and technical assistance. However, some problems are so common that consultants cannot guarantee that they will not recur i.e. the problem of pop-ups and internet viruses.

6) Do your own research: More than often, IT consultants buy additional software or equipment either to upgrade or repair your system, and most of the time you are charged for it. If you do basic research, you can compare the market price to the price you are being charged. Very few IT consulting companies will actually pass on the savings to you, ask the consultant, if they say they do not make money on the purchase make sure they mention that in the contractual agreement.

7) Demand an explanation: There are many people out there who are looking for any excuse to get their hands into your pockets. By talking in technical lingo your may try convincing you into buying the latest and the greatest whether or not you need it so that he can make money from the purchased software. So go ahead and request explanation in simple English and consent such a purchase only when convinced. Be aware of any technical who tries to sell you a product just because it’s new and run away (real fast) from those who recommend that the solution to all your problems is to upgrade to the latest network equipment.

As technology advances, the average computer user’s level of knowledge decreases. Due to this they trust people with the slightest computer training to be experts and hire them as IT consultants. Many people have been duped in the bargain. If you feel you are not being treated right or are being ripped off, go ahead and get a second opinion. Ultimately, a lot in this world runs on trust. You should be able to have a relationship with your IT consulting company. Why should you settle for anything you’re not comfortable with? You might know a thing about technology, but if your prospective IT makes you feel any smarter by educating you a little more, then you have winner.

John Hammond is a Network Security Addict working for one of Chicagos Leading Technology Consulting company, Onsite Chicago. He primarily performs network audits and analysis for businesses in the Chicagoland area. www.onsitechicago.com

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