Keys to a Successful Telecommunications Sourcing Initiative

Your wireless costs might increase because of COVID-19 – but they won’t if you follow these 3 steps.
telecommunications successWhen you go over the vast amount your company spends each month on all the various types of electronic communications being employed in the workplace the numbers can be staggering. This includes local and long distance calling on landlines, wireless phone use, data transmissions, conferencing and more. For most companies, the expenditures on telecommunications of all types represents a huge chunk of their expenses, but it’s a necessary part of doing business.

We know, however, that in almost every instance these costs are inflated and are incorrectly calculated to your disadvantage but also, in most cases, that they can be significantly reduced. You should also be able to obtain refunds on any past charges that were made in error. This is what we do here at Profit Advisory Group (PAG) and what we’ve done in the past to the tune of millions of dollars for all types and sizes of clients, from small businesses to major Fortune 100 companies. You can view our complete client list here.

Guaranteed Results or You Pay Nothing

Our extensive experience shows that, on average, somewhere between seven and twelve percent of a company’s telecom charges are in error, but that eight out of ten telecom invoices are never audited for accuracy. You may also be surprised to learn that your company may be losing 12-17% simply through unorganized telecom expense management. This includes paying for services and/or equipment not being used or being duplicated for a variety of reasons.

Our first objective is to determine where your company currently stands regarding telecom services. This is accomplished through an expert review and audit, line-by-line, of your telecom billing invoices. This will allow for the identification of any billing errors and for identifying any credits or refunds for which your company is due from your carrier(s). We’ll also be able to locate telecom services for which you are paying that are either under used or not being used at all. If we’re unable to uncover any savings to you during this process you pay nothing for the service.

Successful Telecommunications Sourcing Initiative

This review and audit, however, is just the initial stage of a comprehensive telecom sourcing initiative process. There’s more to regaining the upper hand on your telecom spending than merely fixing past errors and deleting underused or unused services. In order to produce a successful, long-term project outcome, three things are needed:

  • A complete understanding of all current telecom assets
  • A clear, well-defined strategy
  • Current market research and best intelligence directed toward obtaining the best in class possible options regarding available telecom services, pricing and terms

Ideally, you’ll be looking at a total savings on telecom costs of 20 percent or more and, with our proven process, we know this is easily attainable. For some larger companies these savings have equaled tens of millions of dollars annually, but even smaller companies enjoy significant savings to their bottom lines. Following the initial audit directed at identifying errors and wasted revenues currently going right down the drain, we will develop a complete inventory of all your telecom carrier services and contracts and measure their terms and rates against current benchmarked data. This process will take into account both existing and future requirements for services and hardware. Potential savings gained through the leveraging of services through the best available vendor(s) will be identified through a Request for Proposal (RFP) and, once preferred vendor(s) are selected, PAG will oversee negotiations of rates, terms, conditions and implementation of all telecom services. We do the work while you reap the rewards!


[author_bio username=”Ken” name=”yes”]

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