Private Equity firms can easily add value to their portfolio’s through telecommunications. In fact many PE firms have already started adding value to their portfolio’s following these 2 easy steps. If you’d like to add more value to your portfolio, and in trn more value to your clients follow these two easy steps.
Telecom Audit
A comprehensive telecom audit is one of the easiest ways to save on telecommunications. When done professionally telecom audits are non-invasive, and often times the company only gets paid if you do, so it is truly no risk. With nearly 80% of telecommunication bills containing errors, and telecom being one of the most expensive line items, it can certainly pay to have an audit. The audit, while a vital part of the value creation process, is just the beginning of things you can do to cut costs across your portfolio.
Control Telecommunications Costs
Be sure that the telecom expenses being paid out each month are dollars spent with intention. Here are some ways to do that:
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- Work with your operating companies to establish at least a quarterly review of telecom usage and vendors. Sometime just submitting a formal RFP can lower your costs and you won’t even have to switch vendors.
- Avoid long-term commitments to pricing plans. Long-term commitments are generally advantageous for the carriers.
- Negotiate savings from vendors by bundling services and getting volume discounts.
- Offload communication and telecom costs to other vendors, such as SaaS providers and cloud-based applications.
- Look into free products that might be able to replace paid products
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- Freeconferencecall.com (conference calling up to 1000 callers)
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- Google Drive (file storage/sharing)
- Asana (task management
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Anytime you have a chance to add value to your portfolio you have to jump at the opportunity, and doing so through telecommunications is one of the easiest ways. Not only can you add value by changing the terms of your deal or bundling services, you may also qualify for a credit from previous billing errors.
[author_bio username=”Ken” name=”yes”]
