Every business owner knows that cutting operating expenses is the fastest way to increase profit. Voice and data services are vital for running your business, but invoices are so complicated many managers just write the check and move on assuming their I.T. department has things under control. That’s a dangerous assumption that could be costing you thousands of dollars per year.
No busy manager has time to scrutinize phone bills, but here’s a few quick checkpoints that will help you decide whether it’s time to take a second look at how your telecom costs are being managed:
1) Ask someone to explain charges on the phone bill. People often complain that phone bills are too confusing. They’re right. But, beware if you hear this from the person approving your telecom invoices. It probably means they aren’t experienced in the strange abbreviations and lingo of communications technology, and may not sure exactly what you’re paying for. Because the cost has dropped a bit or is “about the same as it’s always been” don’t assume everything is OK. Telecom billing is amazingly complex and carriers are prone to errors that can drain away thousands in profits your team worked hard to build.
2) No one is certain when your service contracts are up for renewal, or who to talk to find out. This may mean your service agreements have expired, or have automatically renewed. You may find that you’re paying more than market rates for voice/data/cellular services, or are subject to potentially expensive penalties. It almost surely means there has been no competitive quote for your business.
3) More than one person has placed orders for phone lines, circuits, cell phones, etc. This is a red-flag warning that there is probably no centralized inventory of services. An accurate inventory is key to keeping costs under control, keeping rate plans optimized, and avoiding duplication.
4) Ask the person who supervises telecom whether there’s any money to be saved in the telecom budget. Use your best business instincts and very carefully evaluate the response. Costs can almost always be reduced, the question is whether the savings are worth the effort. Your experience as a manager will tell you whether this person is confident and on top of the situation, or feels exposed because they know invoices aren’t being closely monitored.
Changing carriers or changing technologies can save even small companies several thousand dollars per year, and multi-location businesses with extensive voice, data, and cellular accounts can rack up significant cost reductions. But, many managers are reluctant to tackle the task because the consequences of making a bad decision, or mismanaging the transition, are painful.
If you sense doubt, seek out professional telecom cost analysis to help you quantify the benefits of updating your telecom profile. You’ll identify how much expense can be recaptured, and allow you to weigh that amount against the effort required. Many telecom expense management companies will review your invoices at no charge and those with solid corporate ethics will honestly advise you whether a full audit is likely to be worthwhile.
Author: Lee Kelso
Article Source: EzineArticles.com
Provided by: Mobile device news
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