Every large business will have access to a legal team to protect the company’s interests. Likewise, a process for margin recovery should always be factored in to business processes before it is too late.
There is a reason that margin recovery should never be an afterthought, regardless of the quality of service you provide, over time there will be disputes made against the company. A written contract is not always enough, especially if loopholes are found during these disputes. Whether these disputes are valid or not, being drawn into a long legal battle will have its impact on your company; which is why a margin recovery process is essential to any business plan.
The process of margin recovery can be complicated. That is why it is recommended to invest in a company that specialises in margin recovery to do this on your behalf. Margin recovery includes an initial audit, defining targets and recovery strategies, claim analysis and dispute resolution. Due to the complexities that are involved with margin recovery, it is always best to have a process in place before it is needed.