Business Negotiations and Dealmaking: Weighing Mediation’s Results

Question: My business enters into lots of contracts, and disputes sometimes arise. We want to minimize the time and effort needed to resolve these disputes (for both ourselves and our business partners) in addition to increasing mutual satisfaction with the ultimate resolutions. We’re thinking of including a provision in our contracts requiring that all disputes undergo mediation before they proceed to a more formalized resolution mechanism. Is this a good idea?