The benefits of an audit are endless, and while many businesses understand that audits can save them money, they may not truly grasp the significance of those hidden savings and how they can be repurposed to serve other business needs. So what are some of the ways that audit results can help businesses? We’ll explore them below.
Repurpose Saved Money
Performing an audit in your business will likely result in surprise savings and leave you feeling some sense of shock at seeing how much you had been overspending. But did you know that the hidden benefits of an audit are far more than just finding some savings? Businesses who perform audits can use the money in various ways, including:
- Offset budgets
- Increase bandwidth
- Network expansion
- Technology change
- Equipment refresh and/or upgrade
One of the ways businesses can benefit greatly from an audit is by using the extra money for budget shortfalls. If your company is falling behind on its budget or is over the budget, you have the option to repurpose the money found in an audit to help finance projects or equipment you couldn’t afford in the past. More recently, businesses have begun to expand or improve their service delivery or network quality with the savings discovered in an audit.
Additional Benefits of an Audit
While it can be safe to assume that audits are simply financial benefits, audits can also come with non-financial benefits that include:
- Cleanup of invoicing: Frees up internal staff from having to track down line items.
- Bill consolidation: Results in less work for the A/P department as well as the IT department which no longer needs to track and monitor spending.
What’s more, choosing the right partner to perform an audit can help your business get the support it needs when it comes to your existing vendors and contracts. The right telecom advisor will ensure that your business has the right clauses in its agreement so issues such as incurring additional costs in case of early termination can be avoided. With the help of an expert, businesses can ensure the playing field is leveled and that everything works in their favor, not the vendors’.
Ready to Find Surprise Savings With an Audit?
At PAG, we’ve saved businesses between 17-23% and as a result, have seen our clients repurpose their savings in various ways. From hospitals buying iPads for doctors, doubling their bandwidth, and improving the redundancy in all their major facilities, to businesses implementing SD-WAN and paying for their appliances, we have seen the positive effects of performing audits firsthand.
If you’re ready to find surprise savings and start taking advantage of all the hidden benefits that come with an audit, contact PAG today. We’re the trusted telecom advisor you need to help you uncover those savings.