- Your business hasn’t had one done for five years or more.
- You don’t know exactly what all you get billed for.
- You are an outstate business with limited options.
- Your telecom (voice, data, internet…and cable TV, if you have it) runs over $30,000 per year.
Any institution or business who either has a lot of employees, serves a lot of people, or has heavy needs for data and internet bandwidth should do an in depth review of its telecom (voice and data services) intermittently. How often depends on the size of the enterprise and what practices you already have in place .The reason for doing one:expense reduction. Opportunities regularly show up in billing errors, provisioning alternatives, inventory of services, or in pricing of services.
If your staff will have to start from scratch, it is going to be tedious and time consuming. Once you have an inventory and database of all the services you are billed for, you will want to keep it up as you do adds/changes…or set aside blocks of time every now and then to do so. Then you’ll need to review your bills for services closely against the inventory. Staff will need to get familiar with the various line item charges also…what they are and whether they apply. That means being familiar with the tariffs, regulatory bodies, where the information is kept by them, and whether the services are regulated or unregulated. Lastly, you’ll need to get your vendors (existing and new) involved for a competitive review of your services and pricing.
If you only do the latter at your facility, you are likely leaving money on the table…as nearly everybody does the latter. Most of my clients don’t do the former, and as a result, I find savings for them 90% of the time, averaging 18% of the telecom spend reviewed.