Whether you are a Fortune 1000 company or medium-sized business, one of the biggest (and most complicated) line items on your corporate budget is your telecommunication service. With today’s fast-changing technology, and a shift to an all digital, cloud-based world has made understanding your telecom invoicing more complicated than ever. It is one reason telecommunications expense management was on the rise sharply in 2013—and why it will continue to be so crucial to your business in 2014 and beyond.
Investing in solid telecommunications expense management is one of the smartest moves you can do to ensure your company is running optimally, with less wasted resources and costs.
Three of the top benefits of using telecommunications expense management to save in 2014 include:
- Eliminating confusion and waste: streamline your expenses to reduce costs
- Put budget where it matters: Prevent cost reductions in vital areas
- Better value: Get improved service and a better bottom line
Let’s look at these benefits of telecommunications expense management a little closer.
Eliminate Telecom Confusion & Wasted Expense
Wasted expense is never good business, it doesn’t matter what size your budget. With good telecommunications expense management you can get a better understanding of your invoices, which will allow you to discover overcharges, errors and unneeded expenses. You could get a telecom audit that outlines your current invoices and services to show you exactly where your money is going and ways you can save. An audit is good way of streamlining your costs to save both time and money, while eliminating the confusion that you or your IT department might be having regarding your telecom bills. (And who isn’t confused by telecom invoicing? It’s been consistently voted one of the most complicated bills a company receives.) In fact, some research has shown as much as a thirty percent error rate on some telecom invoices.
Put budget where it matters: Prevent cost reductions in vital areas
If your company is currently trying to reduce expenses to improve profits, then you know the challenge you face. How do you trim expenses and not hurt your company’s performance? One area that many organizations turn to first is their workforce. But often cutting manpower—while a good way to quickly save money—won’t help you in the long run. You need talented professionals to ensure your ongoing success so reducing labor costs should be your last resort. Instead, telecommunications expense management can help you trim expenses where they are rampant and unneeded—your telecom services. Studies have shown that many companies waste thousands of dollars per month in telecom. This is money you could definitely re-prioritize to areas of your company where it would serve you better.
Better value: Get improved service and a better bottom line
The final and most important benefit of using telecommunications expense management to save money in 2014 is to improve your company’s bottom line. This really doesn’t need any more explanation that the fact that you don’t need to lose any more of your hard earned profit in unknown telecom errors or unused services. But there is another benefit too. You will quickly see that understanding, improving and streamlining your telecom service often yields much better telecom service as well. A good telecommunications expense management professional can help you find the right provider for you—saving you hassles, headaches and expenses all the way around.
Getting your telecommunication services under control and better managed will bring your company many healthy returns in 2014 and beyond.
[author_bio username=”Ken” name=”yes”]