Right to the head of the class if you know what OPM is, as you are clearly in the 1%. Before I tell you what it is, I will tell you what it's not. You will not find it on an annual report or in an Excel spreadsheet as an expense line item. There is no one from HR who can find anyone on a depth chart that is over the OPM Department. Neither is there anyone in procurement or sourcing who knows how to buy it, where it comes from or even how much it costs. Even though OPM exists at every layer of … [Read more...]
What You Need to Know About a Telecom Audit
For many businesses, telecom ranks as one of the top expense line items. If your business has not had a telecom audit recently, then it is very likely that you are overpaying for services. A telecom audit could be the solution. As you consider a telecom audit for your business, here are some questions that you may have, and the answers that you need to guide your decision making process: Why Are My Telecom Invoices So Confusing? Back when businesses relied on traditional telephone and “snail … [Read more...]
3 Ways to Increase your Bottom Line and Sadly Only One is Sustainable
Essentially there are only three (3) ways to increase profits: Increase the price you charge for your products/services and maintain sales volume Increase the sales of your product/service at the same cost per unit Reduce your costs The first solution is often not possible due to competitors whose strategy is to be the high volume/low-cost provider of your product/service (think Wal-Mart). While this plan may be able to work in certain markets or even … [Read more...]
MDM, WEM, TEM…OMG!
Give yourself 10 bonus points for knowing what the telecom acronyms stand for, another 10 if you know what the terms actually mean, and an outright A+ if you know the difference between them all! For the other 99% of us, let’s dive right in. MDM: Mobile Device Management WEM: Wireless Expense Management TEM: Telecom Expense Management Ok so there are clearly some similarities: they all are about the “management” of something that seems telecom-related that revolves around … [Read more...]
Is a Telecom Audit Right for Me?
The process of understanding your telecom bill has become complex, and can be time consuming and overwhelming. If you have a small company, then your employees probably wear many hats in order to accomplish everything that needs to get done. A larger company benefits from having IT and procurement departments, but members of these departments also have a full array of job responsibilities. It is unlikely that there is someone with the time, the expertise and the specific skill set necessary to … [Read more...]
How to Gain Leverage Over Your Telecom Services Provider
Wouldn’t it be great to have the upper hand when it comes to negotiating with your telecom services provider? The reality for many of us is that our telecom providers are in the drivers seat. They set prices and terms, and because you simply cannot run a business without telecom services, you play by their rules and pay each invoice as it rolls in. Despite what many people think, it IS possible to gain leverage when it comes to negotiating your telecom contract. Here are three negotiating … [Read more...]
How to Lower Your Current Telecom Bill
Telecom is a vital service in today’s business world. The many communication services provided by telecom carriers allow us fast and easy access to information, collaboration, and clients across the globe. The world of telecom has grown to be something much more advanced and complex than the simple hardwired phone lines that were our main source of connecting not so long ago. With all of the advances in telecom that have transformed the speed and accessibility of business in a positive way, … [Read more...]
Why Is My Telecom Bill So Confusing?
As a business owner, you receive many invoices that need to be paid on a regular basis. Some of them are easy to understand, so you pay them without question. This is NOT the case with the telecom bill. Telecom bills rank consistently as one of the most difficult invoices to understand, leaving many people asking themselves, “WHY is my telecom bill so confusing?” Here are some of the main factors that contribute to the telecom confusion: Multiple Telecom Billing Systems One of the main … [Read more...]
A Comprehensive Analysis of Your Telecom Charges
Whether you are a small business owner or a CFO of a large corporation, you have the same basic goal in mind: profitability. You are constantly weighing expenses against earnings, and trying to minimize expenses without cutting corners whenever possible. Telecom is a necessary expense for any business. Understanding your telecom charges so that you know exactly what you are paying for can help to minimize these expenses. Telecom Invoice Analysis Here is a breakdown of charges on a typical … [Read more...]
Telecom 101: Learning the Language of Telecom
When you try to make sense of the invoice from your telecom service provider, does it look like a foreign language filled with technical jargon and acronyms? The service providers know that the less you understand about your bill, the less likely you will be to challenge it! Though almost 80% of telecom invoices contain errors, customers can’t easily identify errors because they simply don’t understand the invoice. If you want to level the playing field with your telecom service provider, then … [Read more...]
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