Who knew that a key source of agility is knowing the contents of your business agreements?! Here's a note we just received from Chris, an executive in the Pacific Northwest:
Did I ever tell you about the time we discovered our POS was a POS?
At our family micro-brewery (which grosses over $1M/year), it was important to have the most streamlined processes, both on the production and service side. We received many complaints about our Point-of-Sale system (POS) from our service staff, so we went looking for better options. We discovered that switching to a newer point-of-sale system would serve customers faster, enable customer loyalty programs, save us money on fees, etc.: it was a no-brainer. When we contacted our current vendor, however, they notified us that their contract had an auto-renewal clause and it just auto-renewed for three more years! We didn't know the auto-renewal was impending or we would have acted sooner. The vendor gave us two options: 1.) keep using their service, which was bad for our business or 2.) pay an exorbitant fee to cancel their service. It was a lose-lose offer!
If we had Contract Wrangler during that time, we would have avoided extreme penalty charges from our vendor. I've realized now that Contract Wrangler is not only important for avoiding unnecessary charges, but also as a reminder to ensure our business is using the best vendors possible. As a producer, retailer, and distributor, we have countless vendors to manage and it is crucial to ensure our vendor agreements are sound. Ultimately, we would have saved thousands if we had implemented Contract Wrangler's system sooner and, most importantly, would have maintained an organized and intelligent system of analyzing our vendor agreements to prevent future issues.