Land Developer Saves $600K with Contract and License Management
A regional land developer avoided costly project delays and penalties by implementing centralized contract and license management.
The Challenge
The company operated across multiple states with different contractor licensing requirements. Projects were being delayed when contractors' licenses expired mid-project, and the company had paid penalties for work performed by unlicensed contractors. Contract renewals were frequently missed, resulting in unfavorable automatic renewals.
The Approach
VenLink consolidated all contractor contracts and licenses into a single system with automated expiration tracking. The platform verified license status across all operating states and linked license requirements to specific contract scopes of work.
Implementation Timeline
How the solution was deployed and results were achieved
by Legal Team
The Outcome
In the first year, the system prevented three projects from being delayed due to license expirations by providing 90-day advance warnings. It also identified two contracts that had auto-renewed at unfavorable rates, which were renegotiated saving $180K annually. Total first-year savings from avoided delays, renegotiated contracts, and prevented penalties exceeded $600K.