Communication is vital for business. Every company needs telecom equipment and services to keep the communication flowing. With that being said, telecom has become one of the largest ongoing expenses for most companies. Where exactly is all of your telecom money going? Here are 5 telecom expenses that impact your bottom line:
Telecom Equipment Purchases
Wired telephones, cellular phones, tablets, laptops and personal wireless devices keep your employees connected with each other and with clients. Technology allows members of a company to stay connected and stay in business from the office or while traveling. In addition, technology improves at a rapid pace, and it always seems that there are upgrades available. With ongoing additions and improvements, telecom equipment purchases and upgrades have an impact on the bottom line of your telecom expenditures.
Telecom Billing Errors
In a perfect world, your telecom bill would be an exact match to the services that you utilized and agreed upon in your contract. However, the world of telecom billing is very confusing and far from perfect. Industry experts estimate that billing errors may account for up to ten percent of your bottom line bill.
When you contract for certain amounts of an ongoing service, such as data, you need to predict the amount that you will likely use. Unfortunately, sometimes the prediction does not match the reality, and that’s when overages come in to play. Paying for overages is a very expensive way to pay for a service, and can have a big impact on the bottom line of your telecom bill.
Underutilized Equipment and Services
With overages, you use more than the predicted amount of a particular service so you end up paying a higher price. On the other hand, if you underutilize services or equipment, then you are wasting money paying for something that you don’t use or need. As you can see, the telecom vendors earn a great deal of money when customers don’t make accurate predictions regarding the services that they will need. These areas have an effect on your bottom line.
Time Spent Managing Telecom
One expense that impacts your bottom line that doesn’t appear directly on your telecom bill is the time spent managing your telecom services. Time is valuable. Your company probably has an employee or team of employees who spend a significant amount of time managing purchases, double checking for billing errors, and analyzing the trends for service usage in order to avoid overages and underutilization. Time spent attempting to minimize the other factors effecting the bottom line of your telecom bill may in fact be a sizable expense in itself.
If it seems like you are at the mercy of the telecom vendors as you watch your telecom expenses increase to a point where they are out of control, then it is time to contact PAG. Our telecom consultants are industry experts who work for you, and will help you minimize your telecom expenses. Having an expert in your corner will be a great way to shrink that bottom line figure so that you can put your hard earned money to better use.
[author_bio username=”Ken” avatar=”yes” name=”yes”]