As a business, your operational needs change with time. Hiring employees and adding services, for example, creates a domino effect that impacts multiple things: the number of devices accessing your company network, data used, phone calls made and overall access to your secure networks. How often do you have your telecom carrier services audited to see how well your current services match your operational needs?
If you haven’t conducted a telecom audit recently, your company could be overpaying for services that aren’t being used, or that are underutilized. The remainder of this article highlights the most important areas to focus on when conducting an analysis of your costs.
Paying for services that aren’t being used causes some organizations to waste a lot of money. In some cases, old telecom carrier services never get cancelled. In other cases, services were sold to you upfront, and you pay for them monthly without ever taking advantage of them.
According to TechTarget, an estimated 90 percent of companies are overpaying by roughly 30 percent for telecom services. This problem affects businesses of all sizes:
Small companies/startups: Many business responsibilities are handled by a small-business owner who is focused on the overall success of the business, not the minute details of telecom carrier bills.
Mid-sized companies: Most companies arrive at this stage through rapid growth, resulting in knee-jerk reactions or oversight due to low prioritization – such as adding or subtracting telecom carrier services, but not reviewing the bill to make sure the changes were applied.
Large corporations: The merger of two companies is the most common reason among large corporations. When various services and systems are merged, it is easy for small details to slip through the cracks.
Billing errors are another problem facing businesses of any size. Even if you identify services that go unused and suspend them, billing errors can still occur that result in charges for that service continuing. Additionally, you may have added a new service or switched to a new provider with the promise of low rates, but those rates don’t get translated onto your monthly bill. Accurate documentation and analysis of your bill can help you identify any unnecessary costs.
The rates for services are subject to change over time. If your company operates on a month-to-month contract with its carrier, rates may go up without you knowing. It’s important to schedule regular telecom audits so increased rates can be identified, providing an opportunity to renegotiate your contract.
Telecommunications should evolve as your business evolves. Do the telecom carrier services you initially selected still adequately serve your company today? Any company is susceptible to overspending on telecom carrier services.
There are many potential areas for waste, but those covered in this post are the most common. A telecom audit allows your company to stay ahead and better control costs associated with your network.