Wow…what a concept!! Finding money to add to your bottom line that you didn’t know you had. How can that happen?!? Vendor/Supplier contracts, as with many other types, have performance penalty clauses. Often times, these are forgotten because contracts are drafted and filed away and these clauses often times, are forgotten and lost!
If you extract such data and track these clauses, you can manage your suppliers and vendors, collect any and all fees owed to you and not leave money on the table.
While we’re on the topic: are you billing your customers for everything your contracts entitle you to?