The major milestones for CIOs to keep an eye on include the following:
- U.K. parliamentary review of Great Repeal Bill (Late 2017): This will provide the first opportunity for an initial assessment of legal impacts on managed service agreements and other IT contract documents.
- Royal assent of Great Repeal Bill (Mid 2018): At this point, any gaps in the legislation should be addressed, enabling IT organizations to confirm legal impacts and initiate contractual change activities.
- Brexit negotiations wrap up (Fall 2018): This will create clarity the regulatory, operational, audit, and reporting impacts on IT services.
- U.K. Houses of Parliament, European Council, EU Parliament, and remaining 27-member Parliament vote on deal (Early 2019): This will confirm IT impacts and enable CIOs to begin related IT change programs
- Transition period begins (March 2019): CIOs can structure timelines for completion of IT projects to address necessary digital transition and transformation requirements.
While the Brexit process will be challenging for global CIOs, global IT services providers recognize this as an opportunity to help those IT organizations structure and execute their transition plans. “Also potential restructuring of service delivery locations may provide growth opportunities within EU alternate business centers as well as sustained growth in UK markets,” Wright says.
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