Telecom expenses are one of the realities of doing business. Still adroit business professionals can see through all the numbers and turn your telecom expenses into a value play for your business. When you are just getting going here are three common expenses which no private equity firm should make.
Not Leveraging Your Portfolio
You are the customer, your telecom agency is the provider of a service. You need to be able to say to the provider “give me a better deal.” Any service provider is going to charge you as much as they can and try to give the least amount back. If your telecom service plan is still stuck in an old paradigm you need to be able to change that. Even if they are resistant, depending on the volume, size, and scope of your business relationship you should be in an optimum negotiating position. Field other offers and see if your current provider will beat these other offers. Leveraging your portfolio is like squeezing every last drop out of the lemon so come armed with as much information as you can get your hands on and then start the squeeze.
Not Consolidating & Optimizing Telecom
Consolidation and optimization is another problem of the telecom industry. So often service plans and terms are changing. If you signed up for a plan last year or even last month, it may no longer be the best deal around. Keep the pressure on your telecom service provider and make sure that you are getting the best deal possible One of the great ironies of this always unfolding business is that you may be paying more under your current terms of service for plans which offer you less. Don’t fall victim to that. Get out in front of every new offer and swap out your current plans for the best plans offered.
Paying for Unused Telecom Services
Again because of the constant shifting nature of the business you may find yourself paying for services and terms that you aren’t even using. Look over your usage each month to see where you are possibly incurring overages for service plans you aren’t even using. While “service plans” are bandied about on the telecom service provider literature, there are many more service plans which may fit your business better which operators are able to get you when pressed. Make sure you have your telecom service provider sell you on the best service plan for you and your business.
Avoid these three common mistakes and your private equity firm can start generating more revenue.
[author_bio username=”Ken” name=”yes”]