How to Save Potentially Thousands of Business Dollars Each Month – Telecom Expense Management

In today’s economy, it is essential to wring every penny of profit available into your company’s bottom line. Efficiency is the key. Unfortunately, sometimes that means reducing your workforce, but there are other ways to stay profitable without needing to become Mr. Scrooge and laying off people.

Tell Me How

As I said above, efficiency can be the key. One of the top 3 expenditures of most companies nowadays is their telecom usage. Your business might be different, but telecom is still a large part of your expenses. The technology we have today has allowed us conduct business better than ever before, but paying for that technology shouldn’t negate the positive effects, should it?

No

If you have more than a handful of wireless devices in your company, you know that each month the mailman drops a stack of telecom provider bills on your desk, most of which simply get paid without any scrutiny. It’s just easier to send a check to them than to attempt to decipher the bill. Don’t let the fact that 10-15% of all invoices contain errors, most of which are in favor of the vendor bother you.

Another problem is wireless devices. Who controls the acquisition? Do you just trust your employee to sashay into the local cell phone dealer and get the right equipment? Tell me you don’t! If so, have you ever thought about how many lost or damaged devices you are still paying for because the employee didn’t bother to tell anyone? Don’t. It could cause you to have nightmares.

Vendors (bless their hearts) are out to make a buck like any business. If they can sell the most expensive service contract along with a device that has more whistles and bells than a NASA space shuttle, they will do it. Unfortunately, you are paying for the whistles and bells, but you aren’t realizing any benefit from them. If you could ensure that certain categories of employees could acquire only approved devices and contracts, you could save a bundle.

One other facet of telecom usage that can result in chaos is asset management. If you have no idea what equipment you have, or who has it, you might as well give up and just pay the monthly bills and hope they aren’t too far out of whack. It is critical to have an accurate and constantly updated inventory.

The Answer

One word. “Telecom Expense Management.” OK, that’s three words, but it is one important phrase. Telecom Expense Management (TEM) professionals have the skill, training and tools to comb though your telecom systems to find and eliminate waste. Some companies, such as H&R Block, save hundreds of thousands of dollars a year using the services of a TEM team. Obviously it isn’t a free service. TEM companies make it worth your while, though. Often they will charge a percentage of the savings they discover, so their incentive to make you telecom usage as lean and mean as possible is great. That way, everyone wins. Your company’s bottom line looks better, and the Telecom Expense Management company comes out smelling like a rose, too.

Contact a reputable TEM organization to find out more details about what they can do for your company.