Three to six percent of a company’s gross revenue, according to Forrester Research, goes toward telecom expense. The Aberdeen Group, meanwhile, has discovered that seven to 12 percent of telecom service charges have errors. A lot of money, your company’s money, could be going to waste without systemic management of telecom expenses.
Your company’s telecom expense could be a total mess: buying too much capacity, paying for above-the-market rates, ill-chosen technologies, and not catching billing errors. It’s time you put an end to all that by hiring a telecom expense management provider.
Telecom expense management providers can help your business save 10 percent of its yearly telecom expense, a percentage that Gartner finds can be had by routinely and systematically checking billing errors.
And that is just by looking into erroneous billing. The Aberdeen Group projects 20 percent savings for companies that implement the appropriate telecom expense management solution. With the right TEM provider, you can certainly achieve that projection.
But how do you determine which one to hire?
Start with results. Has the TEM provider helped other businesses in cutting telecom costs? What other problems has the TEM provider identified with other businesses? Positive results achieved with many other organizations will mean the same for your company. You might not only be able to save a great deal of money on telecom bills but you might even improve efficiency by shifting to a better carrier that offers optimal technology.
Next, focus on longevity in the business. The most reputable TEM provider will have been in the industry for a long time. Longevity not only indicates that the business is solid but also that it has honed its expertise in telecommunications management, from negotiating carrier contracts to developing strategic use of telecom.
Another key benefit to hiring a TEM provider that has been in the industry a long time is its network of contacts. An extensive network of contacts will allow you greater access to unpublished carrier rates and corporate discounts. This would certainly go a long way in cutting your telecom expenses.
Telecom expense management has the power to cut your costs. It can also improve productivity by identifying optimal technology and pooling data that lead to appropriate strategies.
Don’t let your telecom expense management lead you down a disorganized path. Take control. Implement the appropriate telecom expense manage solution. And decrease spending while increasing efficiency by investing in the right TEM provider today.