Telecom expenses are a huge line item, so they demand more than a cursory glance. In today’s frenzied business environment, a lot of companies out there just don’t have the human resources to give telecom costs sufficient attention.
That can mean you’re paying much more than you need to. Depending on the size of your business, these expenses can add up to thousands of dollars per month. But even small companies can get dinged.
This is especially true of your billings. Once upon a time, you could count on an accurate invoice. But that’s simply no longer the case. Due to the complexity of telecom carrier agreements, hidden charges can be buried in bundling. Erroneous line items and duplicate items are another challenge. But you could also be paying for anything from inactive phone lines to set-up fees.
Significant telecom savings are possible if you know how to find them. Let’s look at some key areas that require a keen eye.
E & OE
Errors and omissions excepted is an accounting term meaning “this invoice might be wrong, but we’re not liable”. I used to have a boss who’d put this on the bottom of every invoice we sent out. He was extremely paranoid and used to demand that all calls in and out of the office be documented in a log book.
We’ve all had bosses like this guy.
But telecom companies have their own version of E & OE, which places an onerous demand on customers. Some telecom companies have taken to limiting the time frame for applying credits for incorrectly billed amounts. Time frames can be as long as 6 months (after which the vendor is no longer liable), or as brief as 30 days.
This is one reason it’s so crucial that billings be combed over to ensure your company isn’t paying more than that it should be.
Documentation and expertise
There was a time when your telecom vendor was responsible for documenting every facet of your contract. That’s no longer the case. Telecom providers are increasingly moving documentation offline. As a result, it’s become more difficult for customers to access.
Telecom providers also suffer from high employee turnover, meaning expertise is routinely drained, leaving the onus on the customer to ensure the accuracy of invoices. “Caveat emptor” is the new watchword of the telecom client, challenged by the complexities of services and associated billings and forced to bird dog every invoice to ensure they’re not paying for what they haven’t agreed to pay for and for what they’re not using.
A renaissance in auditing
Because of all these changes, companies are increasingly turning to professionals like OpDecision to ensure that their billings are accurate prior to payment. But OpDecision goes well beyond that.
Because OpDecision’s team comes directly from the telecom industry, we approach your telecom costs with insider knowledge. We find savings, not only in your invoice, but in your provider agreement and in compliance with that agreement.
Contact us. We know what to look for.