If you manage third-party providers of customer experience services, the terms and conditions of your contracts can be the deciding factor to the success of your customer experience (CX) program.
Most buyers consider the contract review process an important step only at contract negotiation or renewal. Our experience is that nearly all organizations can benefit from a rigorous contract review at any time during the contract term. Waiting could mean the difference in huge costs, poor service, or both.
COPC Inc. has extensive experience reviewing and improving contracts of third-party providers of CX services. Whether you are negotiating a new contract, renegotiating an existing contract, or are in the middle of a current contract, we will ensure you are getting the highest level of service for the appropriate price.
Service Experts Improve Performance by Contract Restructuring
Service Experts believed they were trapped in a contract where they had no negotiating leverage. COPC conducted a contract review, which led to contract negotiation assistance. This resulted in a savings of $2.1 million per year.
What You Gain by Our Contract Review:
- Pay appropriate fees for outsourced customer experience services compared to industry benchmarks
- Implement the most efficient and effective payment model for your needs
- Secure an agreement to receive the appropriate level of service
- Be confident you have contract terms that are in your best interest
- Find opportunities that may yield savings without sacrificing customer satisfaction
- Understand how your our suppliers are performing relative to high-performing vendors
COPC Inc. is the industry leader in performance improvement for CX operations. Based on our extensive knowledge and history of working with call center and other customer contact operations, we have developed a one-of-a-kind vendor management program specifically for buyers of CX services. In addition to contract review, we advise on strategic sourcing, vendor review, and vendor improvement.
We also developed the COPC VMO Standard, which has been published and updated since 2012. This collection of best practices defines the key processes a VMO should perform and metrics a VMO should measure and manage to ensure high performance from its third-party providers. The VMO Standard is available for free. Download your copy today.
Key Steps in a Contract Review
- In-depth review of existing contract(s)
- Analysis of requirements and their implications for your company
- Comparison of pricing relative to prevailing market rates
- Review of final report with recommendations & estimated range of potential savings
- Preparation of executive report
- Analysis of current performance metrics, levels and targets relative to high-performing benchmarks