It happens all of the time. Clients that audit their own billing and manage their own contracts spend wasted hours trying to sort out the fees and promo plans service providers offer. In the end (months later) they realize how much time and energy they spent trying to sort out the very complicated terms, renewals and plans that should have been crystal clear from the beginning. No customer should have to feel they are “in charge” or have to be “on the watch” for changes in their contracts and agreements especially those “1 year promos”. Shouldn’t the service provider INFORM their customer more clearly of any changes going into effect, clearly state them and offer cost saving OPTIONS? Well that is NEVER going to happen!
When we stop and think about what Independence means to so many, I believe many of us forget why independent thinking is so important. Much like our forefathers did 242 years ago, they took a stance on independence by thinking “independently”.
These thoughts allowed those brave men and women to over throw the tyranny of rule at that time, and use this independent thinking to drive away from the dictatorship they were under and strive for freedom of: Religion, Speech, Press, Peaceful Assembly and to Petition to Government for a Redress of Grievances.
A company today cannot succeed if they are not always thinking and CHALLENGING the question “HOW CAN I MAKE THINGS BETTER”.
How does MY COMPANY compare to similar companies. AM I doing EVERYTHING I can to ensure my vendors are PERFORMING at the LEVELS established in our initial contracts?
Are you PERFORMANCE BENCHMARKING?
Are you consistently checking in with Vendors to ensure quality performance from the established guidelines? OR is this your scenario … They been a vendor for so many years you just assume they are giving you the best rate, the best service, the most efficient process, the most competitive pricing and anything else they SHOULD be providing you to BEST serve your buyers, patients, customers. YOUR REPUTATION is ALWAYS at STAKE with Vendors!
MOST COMMON MISTAKES made by finance, legal and contract management departments …
Automatic Renewal Clauses (“ARCs”) or AUTORENEWALS can be golden for business. But for all their perks, ARCs are notoriously problematic. They may irritate customers who’ve missed the termination window, trap businesses in undesirable ongoing agreements and undermine the validity of entire contracts. They act to perpetually renew a contract when no notice has been given to terminate it. So how can a business ensure they manage their autorenewal contracts to avoid termination penalties, increased fees and being locked into an unwanted contract.