If not, it could be a costly mistake!
Did you know that organizations are typically overpaying 20% or more on their telecommunications costs? Some studies even indicate that figure might be low! How does this happen? While confusing vendor billings and contracts play a part, more often it is a result of your IT and Accounting divisions failing to communicate effectively.
It isn’t that either division is doing anything wrong. Without question, your IT and Telecom teams work hard to manage the landline, data circuit, and wireless environment with procurement and providers. However, guess what? Many times, they don’t have visibility into what is billing, being credited, or even if anything has changed.
Working just as diligently, your Accounting team sees the invoices, and processes them quickly and efficiently. Unfortunately, many times Accounting isn’t aware of what has been ordered, cancelled, contracted or changed.
Everyone is doing exactly what they are supposed to do – but there can (and often is) a huge gap that creates waste and frustration. Let’s be perfectly honest. Being unaware is not a strategy for a quality telecom network that is efficient, effective, and whose operational costs are properly managed. Still being honest though, it is the most often employed strategy by small and large businesses alike.
If this sounds familiar, the good news is that your organization is not alone. If the thought of leaving money on the table frustrates you, the better news is that you can make an impact and get your costs back under control!
One of the easiest ways to start fixing the issue is to perform an audit of your telecom services, contracts, and billings. Why? This is the quickest way to get insight into any issues that may be festering under the surface. But how?
Most organizations look for a software tool to perform the audits internally. There are plenty of them out there – from mid-range in cost to highly expensive. And yet, while software tools are good – they are only as strong as the data behind them and the person analyzing the data. The downside? The software may uncover twenty different ways to save money, but the problem rarely gets corrected. Why? Software doesn’t implement changes – people do – and most organizations run extremely lean in their technology departments. The suggestions fall by the wayside.
Smart organizations look to an independent telecom technology firm that blends both tools and industry experts to review the data, right-size the environment, and even more important, can speak the language of your IT, Procurement and Accounting teams. The outcome is simple. Suddenly, there is communication. Suddenly, there is a better-managed network and telecom environment.
Most times, these telecom service firms work on a percentage of savings found in improperly applied rates, expired contracts, disconnected services, and unbalanced plans. Consequently, your engagement of their services can provide savings to your bottom line without generating additional costs. It really is a win-win.
Whether you deploy software tools or engage a consultant, one thing is crystal clear. You need to get your IT and Accounting Departments talking about your telecommunications and data costs. To leave the gap between them open only guarantees that your bottom line expenses will rise – and be a costly mistake.