Fixed Price Agreements
By now, a lot of business clients of LBW have been contacted by staff in relation to fixed price agreements. For those of you that have not been contacted yet, you will be in the next couple of months. As a teaser for those that have not been contacted, these agreements take the place of the engagement letters previously issued and are effectively the same except for one major difference. We are now asking you what you would like us to do for you over the next twelve months and we are undertaking to perform that scoped work at a fixed price under certain service level performance benchmarks.
These service level benchmarks are based on certainty of service in relation to turnaround times of work, response times to client contact and increased communication with our clients.
Because of these guarantees, our clients have absolutely nothing to lose by entering these fixed price agreements. Our clients are asked to provide prices and warranties for products or services before they are provided. We are now doing the same.
Generally the response to discussions with clients surrounding the development and implementation of fixed price agreements has been one of “what a great idea – why didn’t you think of this sooner?”
We continue to roll this out to all business clients, but if you have not yet been contacted, please contact your LBW representative if you would like to discuss a fixed price agreement that is specifically tailored to your needs.